Today two things happened, one - the well-known press conference of David Sacks, and the other - SEC Hester Peirce published an encryption task, the first, it seems, did not meet the market's expectations, but also explained some key points, the latter, may lead to changes in SEC.

Just David Sacks almost brought BTC below $98,000 because the expected strategic reserve currency of BTC or encryption was not directly expressed, and also emphasized adherence to stability in stable coins. Of course, regarding stable coins, David Sacks emphasized that this is an important step in the development of the dollar to make it a global reserve currency (dollar dominance).
At the end of the press conference, David Sachs also noted that the US is currently working on the issue of the strategic reserve #Bitcoin, and sovereign funds are independent. This provides a basis for sovereign funds to include encryption in the strategic reserve, this is my own conclusion, not stated by David Sachs.
Theoretically, David Sax's press conference had no negative impact, just a little slowdown starting with the stablecoin. This is not a mistake, the market just hoped for a more direct effect, which obviously did not happen. However, it can be seen that the issue of strategic reserves is advancing. The reason for the return of market opportunities is the SEC update.
Many small partners are looking forward to the real exchange of ETF funds and pledge ( #ETH ), which can be the most direct positive, followed by the definition of token registration and issuance, planning for the encryption currency market, and other issues discussed by the new SEC group on encryption currency. I believe that the results will not take much time. This is an unexpected situation in the market, but it is really positive.
What I mentioned earlier, although it is progressing slowly, but in terms of trends, it really seems that the US policy on cryptocurrency encryption is gradually opening up, especially regarding #BTC, strategic reserves may be more active than many of our friendly guys imagined, it just may take some time, but liquidity presents a great opportunity, and non-compliant altcoins are likely to face higher difficulties, that's all true.
However, at least from the SEC proposal at the moment, #BTC 和 ETH and future cryptocurrencies that may be accessible through a physical ETF may have better prospects, especially in terms of staking, and this applies not only to ETH servicing, but also to ETFs with POS.
According to BTC data, the turnover has increased even more today, and a pessimistic mood has reemerged in the market. Chinese tariffs early in the morning and David Sachs' press conference in the evening have started to irritate the nerves of the main investors in Asia and the United States. It seems that we need to expect a continuation of a period of low activity.
In my opinion, there is no problem with the trend, it's just a bit slow. Long-term holding of BTC is not a problem, but such a chaotic market really tests the faith and positions of investors, especially for everyone except #BTC.
However, at the moment, the support for BTC in the range of $92,000 to $98,000 is very strong, and there are no signs that it will collapse in the near future. However, there is still some imbalance. Honestly, it saddens me a little. Even if all the data and policies are good, there is still some purchasing power imbalance, making a one-time crossing difficult, such as an increase from $25,000 to $65,000 or a surge to $100,000.