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Bitcoin bulls risk losing $365 million upon Friday’s BTC options expiry
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Bitcoin’s (BTC) price action hasn’t been bullish despite the $69,000 all-time high on Nov. 10. Some argue that that descending channel formed 40 days ago is the dominant trend, and $56,000 marks its current resistance.
Such bearishness follows scrutiny from United States regulators, after a Nov. 1 report from the President’s Working Group on Financial Markets suggested that stablecoin issuers in the U.S. should be subject to “appropriate federal oversight,” similar to banks and savings associations.
On Nov. 12, the Bitcoin-backed exchange-traded fund (ETF) request was rejected by the U.S. Securities and Exchange Commission. To justify the denial, the regulator cited the lack of ability of its participants to deter fraud and market
Read more on cointelegraph.comAbout this in other media
Bitcoin jumps past $50K as US CPI data shows highest inflation in nearly 40 years cointelegraph.com /3 years ago
Bitcoin hovers near $48K ahead of fresh key US inflation data cointelegraph.com /3 years ago
Bitcoin dips below $50K as Evergrande defaults on US dollar debt cointelegraph.com /3 years ago
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