vetoed<\/a> the state\u2019s Bitcoin reserve bill, raising doubts over bipartisan backing for national crypto strategies.<\/p>\n<\/div>\n[ad_2]<\/p>\n","protected":false},"excerpt":{"rendered":"
[ad_1] XRPUSD \u2013 Daily Chart \u2013 050525See our full XRP forecast here. Bitcoin Drops Below $95,000 as US-China Trade Tensions Resurface XRP\u2019s losses coincided with bitcoin (BTC) pulling back from the May 2 high of $97,997. Uncertainty surrounding US-China trade talks weighed on risk sentiment, leaving BTC below the crucial $95,000 mark for the first time in four sessions. Reports of President Trump dismissing plans to speak with China\u2019s President Xi Jinping sank hopes for an end to the US-China trade war. Trump reportedly stated: \u201cChina is \u2018ripping us off\u2019 and Chinese and US officials are talking about \u2018different things\u2019.\u201d Risk-off sentiment spilled into broader markets. On May 5, US Futures opened in negative territory, with the Nasdaq 100 down 143 points, while gold rose 0.81% to $3,266 in early trade. Despite trade uncertainties, BTC\u2019s losses were relatively modest. US BTC-spot ETF net inflows from the week ending May 2 bolstered BTC price support. According to Farside Investors, the US BTC-spot ETF market logged total net inflows of $1,805.1 million. BTC Price Outlook: Policy and Legislation in Focus BTC fell 1.67% on May 4, adding to Saturday\u2019s 0.98% loss to close at $94,387. Near-term price action will likely reflect developments in US-China trade relations, Fed guidance, and ETF flow trends. Key drivers for BTC\u2019s near-term direction include: Bearish Scenario: Rising US-China trade tensions, a hawkish Fed stance, US recession concerns, resistance to the Bitcoin Act, and renewed ETF outflows. Bearish sentiment could send BTC below $90,000. Bullish Scenario: De-escalation in the US-China trade war, a dovish Fed outlook, strong US data, pro-crypto legislation, and sustained ETF inflows. Bullish sentiment could drive BTC above $100,000. Legislative developments may play a pivotal role. The Bitcoin Act\u2019s progress on Capitol Hill could be crucial for BTC\u2019s supply-demand outlook. Senator Cynthia Lummis reintroduced the Bitcoin Act, proposing the US acquire one million BTC over five years with a 20-year holding period, potentially a major demand catalyst. However, Governor Katie Hobbs of Arizona recently vetoed the state\u2019s Bitcoin reserve bill, raising doubts over bipartisan backing for national crypto strategies. [ad_2]<\/p>\n","protected":false},"author":1,"featured_media":45667,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"om_disable_all_campaigns":false,"_uf_show_specific_survey":0,"_uf_disable_surveys":false,"footnotes":""},"categories":[45],"tags":[],"class_list":["post-45666","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-financas"],"aioseo_notices":[],"aioseo_head":"\n\t\t\n\t\n\t\n\t\n\t\n\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t