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Bitcoin needs to hold $96,500 or it could face a significant breakdown going into the new week — but what could trigger such a move?

Stablecoin legislation in the U.S. could change finance and transform crypto, according to an expert that Benzinga interviewed — here's what he envisions.

Plus, the Fed’s next move could spark serious volatility—and Matt Maley is going live to help traders prepare in real time. On Wednesday, May 7 at 6 PM ET, this 35-year Wall Street veteran will break down what the decision means for markets, how to interpret the first wave of price action and what short-term strategies he's using to manage risk and momentum over the next few days.

Register now and come prepared to trade the reaction.

TOP STORY

Bitcoin's Key Level Is $96,500, Analyst Warns, But Here's What Could Trigger A Breakdown

Bitcoin’s rally following its recent death cross has sparked a debate over whether it marks the start of a true breakout or another 2019-style bull trap.

Cryptocurrency analyst Cowen warns that Bitcoin's current pattern closely resembles its 2019 setup.

Back then, BTC surged 42% post-death cross, only to crash to a lower low weeks later.

Cowen emphasizes that unless Bitcoin closes the week above $96,500, the current move could also prove to be a fakeout.

What could trigger such a breakdown?

Read the full scoop here.

SPECIAL OFFER

Trading The Fed—Live This Wednesday

The Fed’s next move could spark serious volatility—and Matt Maley is going live to help traders prepare in real time. On Wednesday, May 7 at 6 PM ET, this 35-year Wall Street veteran will break down what the decision means for markets, how to interpret the first wave of price action, and what short-term strategies he's using to manage risk and momentum over the next few days.

Register now and come prepared to trade the reaction.

QUICK N DIRTY

Strategy has acquired a new batch of Bitcoin — here’s how much the company bought last week.

Shiba Inu is down 10% over the past week — what is going on with everyone’s favorite dog-themed meme coin?

Bitcoin is on the shopping list of corporations, according to asset management firm Bernstein — here’s how much they could buy till 2029.

FINTECH FOCUS

US Stablecoin Legislation Will Transform Crypto, Says Sui Foundation’s Christian Thompson

Christian Thompson, Managing Director of the Sui Foundation, stated that bipartisan U.S. stablecoin legislation will be a powerful mechanism for driving capital formation and retail onboarding into Web3 ecosystems.

Speaking with Benzinga on the sidelines of Sui basecamp in Dubai, Thompson, a former Meta Deputy Chief Information Security Officer and Libra/Diem project contributor, emphasized stablecoins’ role in enabling fast, inexpensive, and reliable cross-border transactions.

How could stablecoins change finance?

Read the full scoop here.

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