#夏日创作营 The Clarity Act election is a smokescreen amid the rally

Another piece of crypto-related legislation is making news in the U.S. It would prohibit the president and federal officials within the president’s administration from issuing digital currencies or digital assets. After this provision was published, coinb’s share price fell 5%, and Circle also fell 7%.

Judging from the overall trend of BTC, the small correction that shows up is not caused by policy; it’s a strategic pullback as the price is positioned at a heavily pressured point.

In this round of price action, ETH has instead gone against its usual weakness. The price broke out from a heavily pressured level, climbed to a strong point, and continued rising further on top of the existing foundation.

Looking only at the movements of BTC and ETH, the market is just experiencing a short-term pullback that doesn’t affect the overall upward trend. The bearish news that comes out is simply meant to shake people out. Since the market can’t keep falling anyway, the next phase is a mid-term uptrend. It won’t immediately jump up by a large margin, but it will rise gradually. A shakeout isn’t something to be afraid of—especially one where even the fluctuation range doesn’t move by more than a few points; that’s even less scary.

The above is purely my personal opinion and not investment advice!