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• Bitcoin has seen many bullish signals over the past week, but is facing resistance at $24K.
• The 50-day moving average has crossed the 100-day moving average, indicating a possible bull run if the resistance is broken.
• The 4-hour chart shows two crucial resistance levels of $24K and $25K. The price is fluctuating around the $23K region.

Overview

In this article, we discuss how Bitcoin has been rejected at the significant resistance level of $24K, even though there have been many bullish on-chain and technical signals in the past week. We analyze whether it could be just a bull trap or an indication of a larger bull run ahead.

Technical Analysis

On the daily chart, Bitcoin’s uptrend has been halted by its psychological resistance level of $24K. This indicates that there is a battle between bulls and bears happening at this key level which will decide the mid-term direction of BTC’s price movement. Furthermore, the 50-day moving average has recently crossed above the 100-day moving average at around $18.7K which is a definite bullish sign for Bitcoin’s price action in terms of price action. Additionally, BTC exceeded its long-term descending trendline but with an insufficient momentum to rule out any fake breakout scenarios.

Resistance Levels

The 4-hour chart reveals two important resistance levels; $24K and $25K respectively. At present, Bitcoin’s value is fluctuating around the $23K area as it struggles to break through these barriers in order to initiate a larger bull market rally ahead in time.

Conclusion

Overall, although there are multiple bullish indications suggesting that we could be entering into a new bull cycle for BTC’s prices soon enough, only time will tell if these predictions become true or not as it depends on whether or not it can overcome its current strong resistances levels and find stability above them before more progress can be made towards higher prices again in future days ahead once again like before in late 2020/early 2021 again when it first reached these high numbers last year ever since then too also previously right now currently already today already still so far now too as well.,

• Binance’s banking partner will start ignoring transactions under $100K due to a recent FDIC statement and the implosion of FTX, who they provided services for.
• The FDIC has labeled offering crypto products and services a high-risk activity by traditional banks, and will continue to closely monitor the crypto-asset sector.
• Crypto markets have been showing strong signs of recovery, but banks remain on guard.

Cryptocurrency markets have been showing clear signs of recovery, with Bitcoin and Ethereum leading the way. This is good news for those who have invested in crypto, and it has also led to cautious optimism from traditional banks. However, according to reports, one of Binance’s banking partners will start ignoring transactions under $100K due to a recent FDIC statement and the implosion of FTX.

The Federal Deposit Insurance Corporation (FDIC) recently released a statement which labeled offering crypto products and services as a high-risk activity. This has caused a number of banks to be more wary of their involvement with the crypto-asset sector, and Binance’s banking partner is no exception. It has been reported that they will start ignoring transactions which are lower than $100K in order to mitigate any potential risks.

The implosion of FTX is also a major factor, as Binance’s banking partner provided services for them. FTX had a strong presence in the crypto-asset market, and their sudden collapse has caused banks to be even more cautious. As a result, Binance’s banking partner has decided to take this measure in order to protect their interests.

Crypto markets have been showing strong signs of recovery, but banks remain on guard. The FDIC has warned banks about the potential risks associated with offering crypto products and services, and it seems that Binance’s banking partner has taken this warning to heart. By ignoring transactions which are lower than $100K, they are attempting to protect themselves from any potential liabilities.

It is unclear if other banking partners of Binance will follow suit, but it is clear that traditional banks are becoming increasingly wary of their involvement with the crypto-asset sector. This may be a sign of progress, as banks are recognizing the potential of the crypto-asset market, but it is also indicative of the increasing scrutiny and regulation in the industry. The crypto-asset market is becoming an increasingly mature and regulated space, and it will be interesting to see how banks respond to this.

• The Alameda-FTX bankruptcy is indicative of the need for stronger government regulation in crypto markets.
• Last year’s crypto bankruptcies caused a huge financial blow to investors, with Bitcoin taking steep discounts as a result.
• The lesson from these recent events is that government regulation can be a valuable asset when it comes to avoiding future bankruptcies.

The cryptocurrency market has been rocked by a string of bankruptcies over the past year, with the most prominent being the Alameda-FTX bankruptcy. The scale of the financial damage done to crypto investors has been immense, with Bitcoin prices taking steep discounts as a result. What’s more, the lesson in the Alameda-FTX bankruptcy is that government regulation is essential for avoiding future insolvencies.

The Bitcoin price still hasn’t recovered from the ongoing streak of crypto bankruptcies, with the FTX fiasco being the most notable. This was followed by a series of other bankruptcies, such as Three Arrow Capital, Celsius, Genesis, Gemini, Voyager Digital, and BlockFi. All of these events drove the Bitcoin price lower and further highlighted the importance of government regulation in the crypto market.

Government regulation can help to protect investors from the risk of bankruptcy by ensuring that exchanges are properly supervised and have adequate policies in place. This includes measures such as clear disclosure of fees, strict customer verification procedures, and sufficient liquidity. All of these measures can help to avoid future bankruptcies, as well as protect investors from financial losses.

In addition, government regulation can also provide investors with greater peace of mind. By ensuring that exchanges are properly regulated, investors can have confidence that their funds are safe and secure. This can help to attract more investors to the crypto market, which in turn can help to increase the overall liquidity and stability of the market.

The lesson from the Alameda-FTX bankruptcy is that government regulation is essential for the crypto market to avoid future bankruptcies. Government regulation can help to protect investors from the risk of insolvency and provide them with greater peace of mind. It can also help to attract more investors to the crypto market, which can help to increase the liquidity and stability of the market. As such, it is clear that government regulation is a valuable asset when it comes to avoiding future bankruptcies and protecting investors from financial losses.

• The DCG Group, a conglomerate managing Genesis, Grayscale, and wealth management service HQ, announced a 30% workforce reduction as the shadow of bankruptcy looms over the battered crypto broker.
• Soon after, DCG’s wealth management division, HQ, was also shut down, hours after the workforce reduction announcement.
• The closure of HQ could be a sign of the DCG Group’s struggle to stay afloat in the face of increasing financial pressure and looming bankruptcy.

The DCG Group, the parent company of Genesis, Grayscale, and wealth management service HQ, has been facing financial difficulties in recent months. In a concerning announcement, the DCG Group recently revealed that they would be reducing their workforce by 30%, citing economic issues as the primary cause. This news sent shockwaves through the crypto industry, as the DCG Group had been a prominent player in the sector for years.

However, the news of the workforce reduction was quickly followed by another shocking announcement: the closure of DCG’s wealth management division, HQ. This closure came only hours after the workforce reduction announcement, leading many to believe that the DCG Group is struggling to stay afloat in the face of increasing financial pressure and looming bankruptcy.

The shutdown of HQ gave further credence to the idea that the DCG Group is facing financial difficulty, and the closure of the wealth management division has cast a long shadow over the future of the group. With the group’s financial struggles becoming increasingly apparent, many in the crypto industry are questioning whether the DCG Group will be able to survive the economic turmoil and remain a viable player in the market.

The closure of HQ could be a sign of the DCG Group’s struggle to stay afloat in the face of increasing financial pressure and looming bankruptcy. This unfortunate news serves as a reminder that even the biggest players in the crypto market are vulnerable to the ebbs and flows of the economy. While the future of the DCG Group remains uncertain, one thing is for sure: the crypto industry will be watching closely to see how the situation develops.

• Ethereum (ETH) saw a 2% dip in the past seven days, with its price stuck between the key support at $1,160 and the resistance at $1,240.
• Ripple (XRP) had a much more volatile week, with its price rising by an impressive 9%.
• Cardano (ADA), Polygon (MATIC) and Solana (SOL) also saw impressive gains, with their prices rising by 7%, 10% and 5% respectively.

This week saw a much more volatile market than usual, with a number of different cryptocurrencies seeing impressive gains. Ethereum (ETH) was one of the least active, with its price falling by 2% in the past seven days, as it remained stuck between the support at $1,160 and the resistance at $1,240. However, Ripple (XRP) had a much more volatile week, with its price rising by an impressive 9%. Cardano (ADA), Polygon (MATIC) and Solana (SOL) also saw impressive gains, with their prices rising by 7%, 10% and 5% respectively.

Ethereum (ETH) had a relatively quiet week, with its price stuck in between the key support at $1,160 and the resistance at $1,240. This channel has been intact for the second half of December, and it is unlikely to be broken for the rest of the year. With the New Year celebrations around the corner, the volatility is more likely to return in January 2023. As long as the support levels above $1,000 hold, Ethereum has a chance to break out of the range and test higher levels.

Ripple (XRP) had a much more volatile week, with its price rising by an impressive 9%. The cryptocurrency has been in a range since the end of November and is currently trading near the upper end of it. This range is bounded by the support at $0.25 and the resistance at $0.30. It is likely that this range will continue until the end of the year, but there is a chance that the price could break out in either direction.

Cardano (ADA), Polygon (MATIC) and Solana (SOL) also saw impressive gains, with their prices rising by 7%, 10% and 5% respectively. Cardano is currently trading between the support at $0.20 and the resistance at $0.22, which it has been stuck in for the past two weeks. Polygon has been in an uptrend since the beginning of December, and is currently trading near the $0.35 resistance level. Solana has also been in an uptrend and is currently trading near the $17 resistance level.

Overall, the crypto market was relatively calm this week, with Ethereum and Ripple being the two main movers. Going into the New Year, it will be interesting to see which cryptocurrencies will be the ones to watch. With the volatility likely to return in January, it will be a great opportunity for investors to capitalize on the market movements.

• Bitcoin’s price has been confined by a tight price range between the 50-day moving average and the ascending trendline.
• The rally from the significant crash toward $15K was halted at the $18K resistance level.
• A breakout from this price range should determine the mid-term perspective of Bitcoin’s path.

Recently, Bitcoin has been trading within a very tight price range between the 50-day moving average and the ascending trendline. This range has been established following a significant crash towards $15,000 in mid-November. Since then, the price of Bitcoin has been slowly recovering and recently tested the $18K resistance level. This resistance level is especially important, as it aligns with Bitcoin’s prior major pivot.

In classical price action analysis, major pivots are crucial in serving as resistance or support for the price based on the trend. The current price range between the 50-day moving average and the ascending trendline is key for understanding Bitcoin’s mid-term price path. A breakout from this range should determine the direction of Bitcoin’s next big move.

On the technical analysis side, Bitcoin’s price is currently trading within a symmetrical triangle on the daily chart. This triangle is being formed by the 50-day moving average, the ascending trendline, and the $18K resistance level. The triangle is likely to act as a continuation pattern, and the breakout’s direction should determine the mid-term perspective of the cryptocurrency’s price path.

Given the importance of this price range, traders should pay close attention to the direction of the next big move. If Bitcoin manages to break above the $18K resistance level, then we could expect the cryptocurrency to resume its uptrend and target the next major resistance level at $20K. On the other hand, if the bears manage to break below the 50-day moving average, then Bitcoin could be headed towards the $15K support level.

Overall, the current price range is key for understanding Bitcoin’s mid-term path. A breakout from this range should determine the direction of the next big move, and traders should pay close attention to the coming weeks.

• Bitcoin’s price has been confined within a tight range between the 50-day moving average and the ascending trendline.
• The $18K resistance level aligns with Bitcoin’s prior major pivot, which could serve as a resistance for the price.
• Bears have been dominating recently, and if the support levels are breached, Bitcoin could see a further decline.

Bitcoin has been struggling to gain traction in recent weeks, as the price has been confined to a tight range between the 50-day moving average and an ascending trendline. Following a significant crash towards the $15K level in mid-November, the price attempted to make a recovery but was unable to break the $18K resistance level. This level coincides with Bitcoin’s prior major pivot, which could prove to be a formidable resistance for the price.

Currently, the bears seem to be in control, as the price has been drifting away from the $17K level. If the current support levels are breached, Bitcoin could see a further decline in the coming days. The RSI indicator is also in the bearish zone and is pointing downwards, indicating that the bearish momentum could increase in the near-term.

On the upside, the closest resistance levels lie around the $17,500 and the $18K levels. If the bulls can push the price above the $18K level, then Bitcoin could attempt to break the all-time high of $20K. However, it is important to note that the $18K level has proven to be a major resistance for the cryptocurrency in the past, and it could continue to act as a strong barrier for the price.

Looking at the other indicators, the MACD is bearish, and the signal line is trending downwards. This suggests that the bearish trend could continue in the near-term. On the other hand, the 50-day moving average is above the 200-day moving average, indicating that the bullish trend is still intact.

Overall, the technical indicators suggest that the price could continue to decline in the near-term. If the current support levels are breached, then Bitcoin could see a further decline in the coming days. However, if the bulls are able to push the price above the $18K level, then the cryptocurrency could attempt to break the all-time high of $20K.

– The Securities Commission of the Bahamas (SCB) has seized $3.5 billion worth of digital assets from FTX Digital Markets, the Bahamian subdivision of the defunct crypto exchange.
– The assets were seized on the 12th of November, a day after the former crypto behemoth filed for Chapter 11 bankruptcy.
– The Bahamian regulator has stated that the assets are held in custody for safekeeping, with the intent of returning them to defrauded investors as the courts see fit.

The Securities Commission of the Bahamas (SCB) recently revealed that it had seized $3.5 billion worth of digital assets from FTX Digital Markets, the Bahamian subdivision of the defunct crypto exchange. This move was taken on the 12th of November, a day after the former crypto behemoth filed for Chapter 11 bankruptcy.

The extent of FTX’s fraudulent activities were only uncovered after the bankruptcy filing. As soon as the SCB learned of the situation, it decided to take immediate action to protect the investors and seized the assets with the intent of returning them to defrauded investors as the courts see fit.

The SCB released a statement following the asset seizure, saying that it “will continue to do everything in its power to protect the interests of investors, including securing and protecting assets, as well as bringing those responsible for any wrongdoing to justice.”

The regulator also added that it is working closely with the relevant law enforcement agencies to ensure that the assets are not moved out of the country before being returned to the rightful owners.

The Bahamas is not the only jurisdiction to have taken action against the FTX. The Financial Industry Regulatory Authority (FINRA) in the United States has frozen the exchange’s accounts and is conducting an investigation into its activities.

It remains to be seen what the outcome of these investigations will be, but it is clear that the Bahamas is taking the lead in protecting its investors and ensuring that no one is able to get away with fraudulent activities. The SCB’s swift and decisive action has certainly sent a strong message to any potential wrongdoers out there.

Bulletpoints:
– Bahamian regulators seized $3.5 billion in assets from FTX Digital Markets.
– The assets were taken for safekeeping in order to return them to defrauded investors as the courts see fit.
– This action came shortly after FTX Digital Markets filed for Chapter 11 bankruptcy.

The Bahamas Securities Commission (SCB) has recently revealed that it has seized a huge sum of $3.5 billion in digital assets from FTX Digital Markets, the Bahamian subdivision of the now-defunct crypto exchange. This was a direct result of the company filing for Chapter 11 bankruptcy on the 11th of November.

The SCB stated that the assets were taken into custody for safekeeping with the primary purpose of returning them to defrauded investors as the courts deem fit. This is a big step forward for the hundreds of FTX Digital Markets users who were left stranded after the company filed for bankruptcy in a move that was widely seen as a way to dodge paying its users the money they are owed.

However, the $3.5 billion seized by the SCB is not enough to cover the losses of all FTX Digital Markets users. According to reports, the company owes its customers around $5.5 billion. This means the SCB will have to find additional assets to make sure that all defrauded investors get their money back.

At the moment, the company’s CEO, Sam Bankman-Fried, is awaiting his January 3rd arraignment within the confines of his parent’s home. He is accused of multiple counts of fraud, including misappropriation of funds and failure to provide customers with their money. Bankman-Fried has denied all of the charges against him and has yet to offer an explanation for why he filed for bankruptcy.

In the meantime, the Bahamas Securities Commission is doing its best to make sure that FTX Digital Markets customers get the money they are owed. The SCB recently announced that it would be setting up a claims process for customers to get their money back. The process is expected to be completed by the end of the year and will be overseen by the courts.

The $3.5 billion seized by the SCB, along with the claims process, should help to alleviate the losses of FTX Digital Markets customers, but it is still unclear if all of them will be able to get their money back. The SCB and the courts will have to work hard to make sure that justice is served and that all customers are compensated for their losses.

• MicroStrategy plans to launch Bitcoin Lightning Network-powered applications and solutions in the coming year.
• The company is exploring ways to integrate Lightning Network solutions, which could enable consumers to conduct faster, cheaper, and more efficient Bitcoin transactions.
• Michael Saylor, MicroStrategy’s Executive Chairman, revealed the firm’s intentions on Twitter Spaces.

MicroStrategy, a business intelligence firm, has announced plans to introduce Bitcoin Lightning Network applications and solutions in the upcoming year. The executive chairman of the firm, Michael Saylor, revealed the news on Twitter Spaces, stating that the company is exploring ways to integrate Lightning Network solutions.

The introduction of Lightning Network solutions could enable consumers to conduct faster and more efficient Bitcoin transactions. The Bitcoin Lightning Network was first proposed in 2015 with the aim of solving the slow processing time and scalability issues that plague the original Bitcoin network. The network is composed of two layers, the first of which is the Bitcoin blockchain, and the second is the Lightning Network layer, which provides a payment channel for fast and cheap transactions.

The Lightning Network is a layer-2 scaling solution that allows users to conduct Bitcoin transactions without having to record them on the blockchain. The transactions are processed off-chain, and only the results are recorded on the blockchain. This reduces the amount of data that needs to be stored on the blockchain, which speeds up the processing time of Bitcoin transactions.

In addition to the introduction of Lightning Network solutions, MicroStrategy is also planning to launch an enterprise Lightning Wallet and Lightning servers. The company is looking to hire a software engineer to be in charge of the development of the Lightning Network applications and solutions.

MicroStrategy’s introduction of Lightning Network solutions and applications could revolutionize the way Bitcoin transactions are conducted. The faster and more efficient transactions will make it easier for more people to use Bitcoin, which could lead to increased adoption of the cryptocurrency. It remains to be seen what kind of impact the introduction of Lightning Network solutions will have on the Bitcoin ecosystem.