BTC/USD forecast. The price of Bitcoin is declining
On Friday, the price of bitcoin declined amid the continued strengthening of the dollar, following the announcement of the results of the Fed meeting on Wednesday, at which it was decided to reduce the volume of bond purchases.
New York Mayor-elect Eric Adams said Thursday that he intends to receive his first three salaries in bitcoins. Earlier this week, the mayor of Miami announced that he would receive his next salary in digital currency. Adams also announced that New York will become the center of the cryptocurrency industry and other fast-growing innovative industries.
The statements by Adams and Miami Mayor Francis Suarez were made in response to a statement by crypto investor and co-founder of Morgan Creek Digital Assets Anthony Pompliano, who tweeted on Tuesday: “Who will be the first American politician to receive a salary in bitcoins?”
US lawmakers have called on the Securities and Exchange Commission to approve spot ETFs for bitcoin
Members of the House of Representatives Tom Emmer and Darren Soto sent a letter to the chairman of the Securities and Exchange Commission, Gary Gensler, stating that the Commission’s approach to regulating cryptocurrencies is unacceptable. Although the launch of Bitcoin futures ETFs is a big step forward for millions of American investors, there is no good reason why spot ETFs cannot also be approved.
They explained, “spot ETFs are based directly on an asset that inherently provides greater investor protection,” adding that futures products are “potentially much more volatile than spot ETFs and involve higher fees for investors.”
According to technical analysis, consolidation below the support of 60,000 will open the way to the level of 58300. In case of consolidation above 62450, an increase to 63700 is likely.