Saturday, June 25

Cryptocurrency Regulation Closes In, But Bitcoin Traders Keep Buying The Drop By CoinTelegraph

© Reuters. Cryptocurrency regulation is coming, but Bitcoin traders keep buying the drop

Looking at the chart from a weekly or daily perspective presents a bearish outlook and it is clear that the price () has been steadily declining since hitting an all-time high at $ 69,000.

Bitcoin / USD on FTX. Interestingly, the November 10 price spike occurred just as the United States announced that inflation had hit a 30-year high, but the mood quickly reversed after fears related to the based real estate developer. in China Evergrande (HK 🙂 who defaulted on his loans. This appears to have had an impact on the overall market structure.

Traders still fear stablecoin regulation.This initial phase of correction was quickly followed by relentless pressure from regulators and policy makers on stablecoin issuers. First came the rejection of the VanEck Spot Bitcoin ETF by the U.S. Securities Commission on November 12. The rejection was directly related to the opinion that the stablecoin of (USDT) was not solvent and to concerns about the manipulation of the price of Bitcoin.

Read the full article on Cointelegraph

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