© Courtesy of BenzingaMajor currencies traded higher on Tuesday evening as investors continued to weigh in on the Commodity Futures Trading Commission's (CFTC ) decision against Binance and its founder Changpeng Zhao.
| Cryptocurrency | Advantages (+/-) | Prices (displayed at 10:00 p.m. EST) |
|---|---|---|
| Bitcoins: | +0.94% | $27,309 |
| Ethereum: | +3.62% | 1778 dollars |
| Dogecoin: | +1.76% | 0.073 USD |
What happened? At the time of writing, the global cryptocurrency market cap is $1.15 trillion, up 1.99% from the previous day.
| Cryptocurrency | Advantages (+/-) | Prices (displayed at 10:00 p.m. EST) |
|---|---|---|
| mesh mask | +18.24% | $6.63 |
| confusion | +17.23% | 0.36 USD |
| lido cad | +14.80% | 2.36 USD |
US stock markets fell sharply on Tuesday, with the tech-heavy S&P 500 and Nasdaq down 0.16% and 0.58%, respectively, amid fears of an uncertain future for banks in the country.
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In a blog post on Monday, Zhao expressed disagreement with the CFTC's latest lawsuit, calling it a "distortion of facts." However, CFTC Chairman Rustin Behnam insisted on Tuesday that the move "looks like a fairly mild case of evasion and something we need to take drastic action and do as soon as possible." ".
Analyst Note : Cryptocurrency analyst Justin Bennett said in a blog post that Bitcoin has been in a sideways cycle since the 18th of this month after attempting to break the key $26,500 level. A daily close below this level is likely to put Bitcoin in a range between $25,200 and $26,860 from August 2021 to February 2023.
“However, the most important test for the bulls is the $27,700 resistance for the $28,900 hole. I remain cautious as Bitcoin is below $28,900 on higher timeframes. As mentioned last week on Discord, I still have a short BTC average at $28,133. So I am not ready to sell Bitcoin more strongly than $26,500 and $25,200.”
A pseudonymous Kaleo analyst believes that we are still in the middle of a Bitcoin rally and that FUD (Fear, Uncertainty, and Doubt) has caused a deflation that presents a huge opportunity for accumulation.
“Bitcoin is less than $30,000 a day [it's] free.”
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