The world’s largest cryptocurrency Bitcoin(BTC) continues to show strength since the beginning of this month. As of press time, Bitcoin is up by 4.37% and is currently trading at a price of $51,273 with a market cap of $971 billion. Bitcoin is currently trading at levels that’s hinting at the beginning of the next bull run.
Solana drops under $160, support marked by the 61.8% Fibonacci level as declines linger toward $150. Axie Infinity embraces support at $120, while a daily close above $130 will pave the way for a formidable recovery.
Gary Gensler, the head of the U.S. The Securities and Exchange Commission has confirmed that his agency does not have the authority or intention to ban cryptocurrency.
Over the past few weeks, the larger financial markets have been under serious stress as traditional market stocks and cryptos witnessed a month-long drawdown in September. S&P 500, Dow Jones, and now Facebook (after its recent server outrage) bled in the markets, and Bitcoin exhibited a similar picture.
Hedge fund manager Ken Griffin signaled out crypto as a threat to the US dollar, and stated that "I wish all this passion and energy that went to crypto was directed towards making the United States stronger."
As the price of Ethereum enters the early phases of another bull rise, it has regained its energy. Following a long period of suffering in September, the price of ETH had fallen below $3,000, leaving the digital currency in a precarious position as bears tightened their grip on the market. Reduced interest didn’t improve matters, as the market had returned to a state of severe dread.
BTC price broke out of its multi-month long range, securing a daily close above $50,000 and prompting traders to extend their short-term target to $56,000.
The Ransom Disclosure Act aims to help the Department of Homeland Security gather critical data on ransom payments in cryptocurrency and fiat.
American cinema giant AMC Theatres is steadily approaching its goal of accepting cryptocurrency payments by year-end, now debuting crypto purchases for electronic gift cards.