According to capital markets data provider PitchBook, investors poured roughly $30bn into crypto projects in both 20. The sector also drew sizeable investments from venture capital funds during the market’s record setting bull run. Publicly listed rival Coinbase is also facing similar charges from the SEC.Īt the height of enthusiasm for crypto in 2021, blockchain technology commanded mainstream attention, with exchanges securing celebrity endorsements, striking high-profile sponsorship deals, and several running multimillion dollar Super Bowl ads - including the now defunct FTX.
In June, the Securities and Exchange Commission followed the lead of the Commodity Futures Trading Commission in levelling charges against Binance, the world’s largest crypto exchange, for alleged trading violations. And this year has been defined by flashpoints between regulators and the blockchain industry. The collapse of FTX in November 2022 capped off a year of crisis in crypto markets in which price falls and scandals left a permanent black mark on the sector. The recent tumult in crypto markets, and ensuing regulatory crackdowns on the sector’s major players, have dented the appeal of their underlying blockchain technology to traditional finance operators. It does not reflect the views of Crypto Daily, nor is it intended to be used as legal, tax, investment, or financial advice.Simply sign up to the Blockchain myFT Digest - delivered directly to your inbox.
On 60-minute chart, SlowK is Bearishly below SlowD while MACD is Bullishly above MACDAverage.ĭisclaimer: Sally Ho’s Technical Analysis is provided by a third party, and for informational purposes only. On 4-Hourly chart, SlowK is Bullishly above SlowD while MACD is Bearishly below MACDAverage.
Technical Resistance is expected around 31986.16/ 32989.19/ 34658.69 with Stops expected above. Also, the 50-bar MA (hourly) is bullishly indicating above the 100 -bar MA (hourly) and above the 200 -bar MA (hourly). Traders are observing that the 50-bar MA (4-hourly) is bearishly indicating below the 100-bar MA (4-hourly) and below the 200-bar MA (4-hourly). Some Stops are cited above the 2706 areas. Technical support and potential buying pressure in appreciating ranges from the 1548.52 levels include the 23661, 22793, and 21725 levels. Stops are cited below the 24197.68 level, a downside price objective related to selling pressure around the 30222 area. Traders recently pushed BTC/USD as low as the 24900 area after Stops were elected below a related downside price objective around the 25106.61 area, but bears failed to sustain the downward break.Ī sustained break below the 25462.40 level will elevate bearish pressure as it is another downward price objective corresponding to significant recent selling pressure around the 28184.89 area.
Traders have recently found a bid above the 50-bar, 12-hour simple moving average but have been unable to sustain a test and break above the 200-bar, 4-hour simple moving average. The 26585 area represents a downside price objective linked to recent depreciating activity around the 3024.89 areas. Bitcoin (BTC/USD) experienced a slight bid early in the Asian session as the pair continued to orbit the 26585.66 level after testing the 26917.36 area, an upside price objective associated with recent appreciating activity around the 2493.43 areas.
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