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In a recent development, there is disarray within the Democratic Party camp, potentially giving the pro-crypto Presidential candidate Trump a better chance at winning the upcoming Presidential Election. This has significant implications for the crypto market, as Trump has shown support for crypto in his campaign, appealing to the 52 million Americans who own crypto.
Furthermore, recent court rulings have raised questions about the SEC’s authority over cryptos. Judge Amy Berman Jackson’s rejection of the SEC’s claims regarding Binance’s BNB token and her reference to the XRP ruling suggest a possible shift in regulatory oversight. A Trump victory could further impact the regulation of the US digital asset space, potentially giving the Commodity Futures Trading Commission more authority.
In terms of technical analysis, Bitcoin (BTC) has shown both bullish and bearish signals, with the potential to target $100,000. It is crucial to monitor trends in US politics, SEC cases, and ETF flows to make informed investment decisions. With a careful eye on key support and resistance levels, investors can navigate the market with confidence.
Stay tuned to Extreme Investor Network for more in-depth analysis and expert insights on the stock market, trading strategies, and the latest developments in the world of finance. Join our network of savvy investors and unlock your full potential in the ever-evolving world of finance.