14.04.202613:52 Analisis Forex & Kajian: Yield on stablecoins poses no problem

Bitcoin has returned to its daily highs, clearly intending to continue an active rise. But be cautious buying at current levels: several times in the $75,000–$76,000 area, large sellers have appeared in recent months, quickly pushing the instrument back to the mid?channel area around $66,000.

While traders wait for a breakout above that range, I'd like to return to the CLARITY topic I raised this morning.

Yesterday, journalists asked Federal Reserve official Steven Miran a couple of timely questions. In the interview, he was asked for his view on a proposal to allow stablecoin issuers — digital assets pegged to the US dollar — to pay interest to holders. The idea has received some support within the Trump administration but faces fierce opposition from some banking groups, which fear it could pull depositors away and cause sharp deposit outflows.

"Honestly, I don't see this as such a big problem," Miran said. "Paying interest could reallocate some deposits from banks to stablecoins, but I'm not convinced the scale of that change would have meaningful economic significance."

The official said stablecoins' primary function is to provide liquidity and reduce transaction costs, not to compete with banks for deposits. He noted that if stablecoins can offer competitive interest rates, that would reflect market conditions rather than create a new systemic problem. "It's important that any new form of digital asset, whether stablecoins or something else, operate in a context of fair competition and not undermine financial stability," the Fed representative emphasized.

He added that regulators are closely watching the development of the stablecoin market and are ready to act if risks to financial stability emerge.

Trading recommendations

Bitcoin

Buyers are currently targeting a return to $74,600, which would open a direct path to $76,600 and then $78,400. The longer-term target is the high near $80,100; a break above that would signal an attempt to return to a bull market. On a pullback, I expect buyers to step in at $73,000. A drop back below that area could quickly push BTC toward $71,400, with a further target around $69,800.

Ethereum

A clear close above $2,410 would open a direct path to $2,499. The further target is the high near $2,585; a break above that would strengthen bullish sentiment and revive buyer interest. On the downside, I expect buyers to step in at $2,319. A return below that area could quickly push ETH toward $2,244, with a further target around $2,162.

What's on the chart

• The red lines represent support and resistance levels, where price is expected to either pause or react sharply.
• The green line shows the 50-day moving average.
• The blue line is the 100-day moving average.
• The lime line is the 200-day moving average.

Price testing or crossing any of these moving averages often either halts movement or injects fresh momentum into the market.