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XLM $0.1886 -2.44%
ZEC $1,181.43 +3.44%
BTC $78,683.45 -0.49%
ETH $2,492.71 +0.17%
BNB $755.33 +2.13%
XRP $1.42 +1.97%
SOL $103.75 +0.09%
TRX $0.3392 +1.42%
DOGE $0.0908 -0.35%
ADA $0.2204 -0.11%
BCH $259.31 -0.43%
LINK $12.55 -1.62%
HYPE $85.50 +0.51%
AAVE $129.40 -2.12%
SUI $0.8219 +0.37%
XLM $0.1886 -2.44%
ZEC $1,181.43 +3.44%

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first_img VanEck Research Director: Bitcoin Can Perform Well Under Democratic Governance

Matthew Sigel, the Head of Digital Asset Research at the asset management company VanEck, stated on CNBC that Bitcoin does not need a Republican president to perform well, and former President Biden is not anti-Bitcoin. Sigel pointed out that despite Republicans repeatedly criticizing Democrats for being anti-cryptocurrency, and the regulatory agencies under the Biden administration suing digital asset companies, Bitcoin can still develop healthily under Democratic governance.Sigel also discussed the delay in the legislation of the Clarity Act, which aims to establish a classification framework for digital assets and clarify the regulatory jurisdiction over securities, commodities, or payment stablecoins. Some Republican senators accused Democrats of delaying the legislation, while Coinbase's Chief Policy Officer Faryar Shirzad believes that the opposition mainly comes from older Democrats, and the younger generation better understands technological changes, making cryptocurrency potentially the most bipartisan issue in Washington.Recently, Bitcoin has shown strong price performance, rising nearly 24% in the past seven days, reaching as high as $81,160, and currently retreating to about $78,438. Previously, the Trump administration promoted the establishment of a Bitcoin strategic reserve and issued several executive orders supporting cryptocurrency.

Data: $63,000 has become the current battleground for Bitcoin bulls and bears, as well as an important market support level

According to Glassnode data, around $63,000 is becoming an important support and battle zone for Bitcoin (BTC) in the current market. Bitcoin has been oscillating between $60,000 and $67,000 in recent weeks, with over 3% of the circulating supply of BTC, approximately 515,000 BTC, having a cost basis concentrated around $63,000; additionally, over 362,000 BTC is concentrated in the $61,000 region.Glassnode points out that currently, only the supply density in the $78,000 to $82,000 range is higher than this area, which corresponds to Bitcoin's peak in May. Furthermore, the current price of Bitcoin nearly coincides with the 200-week moving average. Glassnode data shows that the 200-week moving average is currently around $63,657, while the BTC price is about $63,822, indicating a significant historical accumulation and strong cost support in this area.From the 30-day Accumulation Trend Score, all types of investors are currently in a net accumulation state, with retail buying pressure being the most evident; at the same time, whale addresses holding over 1,000 BTC are also continuously increasing their positions, indicating that long-term capital is still being deployed. The $63,000 area has become a key price zone in Bitcoin's short-term market structure, and investor accumulation behavior may provide important references for subsequent trends.
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