Bitcoin fell on Tuesday morning in Asia along with most major cryptocurrencies on speculation the U.S. regulator will appeal a decision in the Ripple case and enthusiasm waned for a Bitcoin ETF.
Bitcoin will have to remain above US$29,500 to prevent further bearish momentum, industry experts told Forkast.
Already home to most of the world’s gamers, Asia has a rich pedigree in seeding and embracing new technologies, writes Robbie Ferguson of Immutable.
Bitcoin rose on Monday morning in Asia to reclaim the US$30,000 support level. Ether moved higher, while most other top 10 non-stablecoin tokens also gained.
Bitcoin fell under US$30,000, despite the SEC accepting eight spot Bitcoin ETF applications for review this week. A weekly close under that psychological level could lead to more panic selling, industry experts told Forkast.
Bitcoin and Ether both remained below key support levels, as investor sentiment failed to pick up even after the Securities and Exchange Commission (SEC) accepted eight spot Bitcoin exchange-traded fund (ETF) applications for review.
Bitcoin fell on Friday morning in Asia as other top 10 cryptocurrencies traded mixed. Bitcoin again slipped below support at US$30,000.
Bitcoin and Ether both recaptured key support levels. Institutional interest remains upbeat following a slew of Bitcoin exchange-traded fund (ETF) applications, industry experts told Forkast.
Shanghai on Tuesday published a set of guidelines to promote use of blockchain, the digital yuan, and the metaverse in the city’s legacy industries.