US Legislators Call on SEC to Move Forward with Trump's Cryptocurrency Retirement Initiative
Lawmakers Urge SEC Action: Nine US lawmakers have requested SEC Chair Paul Atkins to expedite the implementation of an executive order that would allow cryptocurrency investments in 401(k) retirement plans, emphasizing the need for updated regulations to democratize access to alternative assets for investors.
Potential Market Impact: Allowing crypto in 401(k) plans could unlock significant investment potential, with a mere 1% allocation of the $9.3 trillion market potentially generating $93 billion in new capital inflows, surpassing current investments in Bitcoin ETFs.
Public Pension Fund Activity: Some public pension funds, like the State of Michigan Retirement System, are increasing their cryptocurrency holdings, while others, such as the State of Wisconsin Investment Board, have divested from crypto investments, highlighting a mixed approach to crypto in retirement portfolios.
Growing Interest in Crypto Access: The push from lawmakers reflects a broader political and regulatory interest in expanding access to cryptocurrencies as part of retirement savings, aiming to modernize investment options for American workers.
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Technical Analysis for BTC
Technical Sentiment Analysis for Bitcoin (BTC) As of , Bitcoin (BTC) is exhibiting a Sell technical sentiment. Our proprietary analysis, which aggregates 3 technical signals, shows that 0 indicators are flashing buy, while 3 are indicating sell.
Momentum Indicators: RSI, MACD & Overbought/Oversold Status Currently, the Relative Strength Index (RSI) for BTC stands at -, which suggests a Neutral condition. Meanwhile, the MACD (12, 26) indicator is at -, providing a Neutral signal for short-term momentum. Other oscillators like the Stochastic Oscillator at - and the Commodity Channel Index (CCI) at - further confirm a - outlook for the stock.
Support, Resistance & Moving Averages From a structural perspective, BTC is trading below its 60-day moving average of $- and below its 200-day long-term moving average of $-. Key price levels to watch include the immediate resistance at $- and strong support at $-. A break above $- could signal a bull continuation, while falling below $- may test the next Fibonacci floor at $-.
Bitcoin (BTC) Support & Resistance Level
| Name | S3 | S2 | S1 | Pivot Points | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Classic | 36099.581 | 48049.791 | 60369.601 | 72319.811 | 84639.621 | 96589.831 | 108909.641 |
| Fibonacci | 48049.791 | 57320.938 | 63048.663 | 72319.811 | 81590.958 | 87318.683 | 96589.831 |
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