Bitcoin (BTC) and other cryptocurrency market highlights review:

• the president of the Swiss central bank (SNB) said that he was not interested in holding bitcoin (BTC) at present, but he might act quickly at some time. He believes that bitcoin (BTC) does not meet the requirements of monetary reserve.

• cassiwood, founder of ark fund, said that the U.S. government is expected to introduce more new regulations in the field of encryption, and cryptocurrency will have a positive impact on 401 (k) retirement benefit plans.

• lawmakers from both parties in the United States are proposing a bill aimed at giving the U.S. Commodity Futures Trading Commission (CFTC) a greater role in supervising the cryptocurrency spot market.

• Goldman Sachs Group launched the first loan tool with bitcoin as collateral, which is considered to be an important step for major U.S. banks to accelerate the acceptance of cryptocurrency on Wall Street.

• the Central African Republic has passed the law on cryptocurrency as legal tender, and tax contributions can also be paid in cryptocurrency through a platform recognized by the government.

Technical analysis of bitcoin (BTC) price trend

The daily chart shows that bitcoin (BTC) has been supported near the upward trend line (37000-37500 area) since January. If it rebounds upward, pay attention to the 20 day moving average to 40000 area resistance, and there will be more upward space if it breaks 40000 effectively.

However, if bitcoin (BTC) breaks through the 37000-37500 area, it will mean that the upward trend line has been effectively broken since January, and the price will open the door to 30000.