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➡️ #BitcoinStrategicReserveAct#
— On May 7, New Hampshire became the first U.S. state to include Bitcoin in its strategic reserves. The new HB 302 bill allows up to 5% of public funds to be invested in digital assets and precious metals with a market cap over $500B.
Will this boost Bitcoin’s price? Could it set a trend for other states or countries? Share your thoughts!
➡️ #FOMCMeeting#
— The Fed will announce its May rate decision on May 8. Despite pressure to cut, markets expect no change. How do you think this will impact the market?
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This Thursday, the single-day dumping scale of hedge funds reached a nearly 15-year high, close to the 2008 Lehman crisis.
According to ChainCatcher news and analysis from The Kobeissi Letter, hedge funds sold stocks worth $40 billion in a single day on Thursday, marking the largest single-day selling scale since 2010. Data shows that the short selling volume on that day was three times the buying volume, with North American stock trading volume accounting for 75% of the total trading volume. The previous record during the 2008 Lehman crisis was a market single-day dumping of 28 billion dollars, which is approximately equivalent to 42 billion dollars today after adjusting for inflation. During the COVID-19 shock in 2020, the net sell-off in a single week reached 52 billion dollars.