Proposed US Crypto Mining Bill Will Boost Bitcoin Markets

The Bitcoin market will be boosted by an important factor according to the latest reports. The price of the most important digital asset out there is now just below $28k.

It’s been just revealed that there is an important crypto analyst who says he thinks he knows what’s fueling Bitcoin’s (BTC) most recent upward rally.

Crypto trader Michaël van de Poppe recently said the fact that he expected more downside out of BTC than he’s currently seeing.

“Bill to propose Bitcoin mining in the US is a positive thing for the markets, probably fueling the upwards rally.

Expected more downside, but broke through $27,700 and clearly going for the highs, have to see how we stand there.”

Van de Poppe had previously expected BTC to be on the downtrend. This happened following the Federal Open Markets Committee (FOMC) meeting.

“Powell stated the obvious. He needs to continue hiking the interest rates, while he’ll add more to the balance sheet to save banks.

Bitcoin corrects and I think we’ll go down some more. It’s not a great recipe to go bullish into a FOMC event.”

It’s been just revealed that with the Shanghai-Capella upgrade slated for April 12, industry participants and investors are now bracing for the initial impact from validators seeking to withdraw and sell their locked-up ether (ETH).

“ETH fell 4.7% Wednesday as part of a broader market sell-off following US Federal Reserve Chair Jerome Powell’s press briefing of the Fed’s latest interest rate hike and news of SEC enforcement actions against Justin Sun and Tron-affiliated groups and individuals,” the online publication Blockworks notes.

It’s also been revealed by the same online publication the fact that ETH holders depositing their ETH to new validators or liquid staking pools is at all-time highs.