SEC Gets Cropped, Bitcoin Benefits – We just learned that a federal court has asked the SEC (Securities and Exchange Commission) to review its copy in the face of the request to convert the Grayscale Bitcoin Trust into an ETF. The price of Bitcoin quickly exploded higher after this news, posting a rise of more than 7% in just a few hours.
Rain of liquidations on the cryptocurrency market
The course has exploded upwardand the market has punish the sellers. This time, it is the sellers who see their positions being liquidated. In the space of just 4 hours, the market registers $100 million in sell-side liquidations :
It would seem that the traders continue to short the market. In one hour, the market continues to record liquidations of up to $20 million. It’s the Bitcoin which is the asset that records the most liquidations in 24 hours with a total of more than $62 million. At the same time, the exchange that records the most liquidations is the OKX platform, with more than 45 million liquidations.
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Bitcoin price hits $28,000
The Bitcoin price rebounded to the level of bracket at $26,000. Buyers have defended the supportand the course climbs more than 8% :
For the course, the next resistance is found around $28,500. In the event of a fall, the price could find buyers at the level of the rack at $27,300 or at the level of the next bracket at $26,700. Thanks to this movement, the price confirms a momentum with rising troughs and peaks. Buyers have control over the short-term price again. The RSI displays a bullish momentumbuyers have their hands on the momentum in 4H.
The price of Bitcoin explodes on the rise following the victory of Grayscale against the SEC. The price exploded by more than 8% in just a few hours. Also, in a few hours, the market recorded significant liquidations. Indeed, more than 100 million liquidations (shorts) have been recorded by the market. The price of Bitcoin touched $28,000, it could block at the resistance level in 4H at $28,500. Another good news of the day: X (Twitter) could set up cryptocurrency payments.
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