Bitcoin (BTC) stars are aligning, WHY?

Bitcoin’s journey has been tumultuous, but it seems to have finally found its footing. Not only in the financial world but also in the political arena, the winds of change seem to be blowing in Bitcoin’s direction.

The Anti-Crypto Tide Is Turning

Exciting news for the world of cryptocurrency, as the once hostile political terrain for Bitcoin is now shifting in its favor. The notorious adversaries of this revolutionary currency, such as the Security and Exchange Commission’s chairman Gary Gensler and his “handler” Senator Elizabeth Warren, are now facing fierce resistance from all corners of the political spectrum.

For far too long, the halls of Congress have echoed the false claims that bitcoin is nothing more than a fraudulent scheme used by criminals and terrorists. The idea of cryptocurrency was seen as a non-issue, easily swept under the rug by the older generation of politicians who were deeply entrenched in the traditional financial world.

Biden Administration Changing Tack?

The winds of change are blowing in Washington as the FIT21 bill, a game-changing legislation that strips power from the SEC, was overwhelmingly passed on Wednesday.

And that’s not all – President Biden, who initially opposed the bill, suddenly had a change of heart, hinting at a major shift in the administration’s stance. It seems they have finally realized the consequences of their anti-crypto stance, especially with the upcoming elections looming. This could be a pivotal moment for the future of cryptocurrency.

High Net Worth Investors Get First Shot At Bitcoin ETP In UK

Exciting developments are brewing in London as the UK financial watchdog, the FCA, has given the green light for the first-ever Bitcoin Exchange Traded Product (ETP) to hit the market.

Set to launch at the end of May, this groundbreaking ETP is poised to shake up the crypto world. But there’s a catch – only high net worth investors will have access to this exclusive opportunity, in line with the UK government’s stance on limiting retail investors from diving into the crypto craze.

8 Straight Days Of Bitcoin ETF Net Inflows

Revolutionary changes are brewing for bitcoin, both in the political and financial realms. Despite the ups and downs, the tide seems to be shifting in favor of this digital currency. In fact, the US Bitcoin ETFs are riding a wave of success with eight consecutive days of net inflows.

And get this – a whopping 2,019 BTC was withdrawn from circulation, surpassing the daily mining issuance by fourfold. That’s a clear sign of its growing popularity and value.

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Short Term Price Action Bullish For $BTC

Bitcoin (BTC) chart trading view 23 may

The current state of $BTC is nothing short of thrilling. On a grand scale, the price is showing great promise, but even on a smaller hourly scale, the excitement is palpable.

A miniature bull pennant is taking shape, with the $BTC price being tightly squeezed between the support and the top of the pennant. All signs point to a break in the upward direction, and if all goes according to plan, $BTC could soar back to its record-breaking all-time high.

Disclaimer: This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.

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