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Recently, the Central Bank of Brazil expressed opposition to the proposal of Bitcoin as a strategic reserve. The Central Bank pointed out that the high Fluctuation of Bitcoin could affect the credibility of monetary policy. This bill is still under review and has not yet been finalized.
At the same time, the trends in the cryptocurrency market continue to attract close attention from investors. The price dynamics of Bitcoin and Ethereum (commonly referred to as 'the second') have sparked discussions among market participants. Yesterday, these two major cryptocurrencies reached highs of $114,500 and $437, respectively, successfully hitting some target price levels set by investors.
Given that the current news does not pose a significant threat to the market, today's market focus may shift to the key price levels of $111,500 and $410. This reflects that investors are seeking new support and resistance levels.
It is worth noting that market sentiment seems to be improving. Although some investors were previously skeptical about the price increase, recent trends have proven that maintaining patience in cryptocurrency investment often yields rewards. This once again confirms the applicability of the old wisdom 'patience is a virtue' in the field of investment.
However, investors should still keep in mind the high-risk characteristics of the cryptocurrency market, manage their portfolios wisely, and remain vigilant to changes in market dynamics and regulatory environments.