Bitcoin Rejection at $39K and Growing Regulatory Concerns Hit Markets Again
BTC prices are refusing to approach $40,000 as investors balk at the upcoming Biden administration’s executive order on cryptocurrency regulation.
CointelegraphBTC prices are refusing to approach $40,000 as investors balk at the upcoming Biden administration’s executive order on cryptocurrency regulation.
CointelegraphBitcoin price action has stabilized on the first day of the week, which should provide several tests of traders' resolve.
CointelegraphMultiple factors are pushing BTC price below $40,000, but derivatives data shows pro traders are neutral, and holding out hope for a quick trend reversal.
CointelegraphHolding BTC price below $39,000 will give bears a $350 million profit in this week’s $1.9 billion options expiry.
CointelegraphSo far, so good for markets pricing in a 50-basis-point hike from the Fed, with chair Jerome Powell still to speak.
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