Up until this week, when it fell to $22,000, Bitcoin was able to hold onto its $30,000 price. The total market value of cryptocurrencies has decreased by approximately $100 billion. Additionally, markets are currently in an extreme fear zone, which has caused most cryptocurrency prices, including Bitcoin, to once again decline (BTC).
The next level of support for BTC might be $18,000 or perhaps $16,000 if the defense of the $20,000 level is eroding.
Bitcoin has only ever fallen this far below its 200-week moving average of $21,700 five times in its history. After falling below the $20,300 level, BTC is likewise not showing any signs of recovery.
Since it is extremely uncommon for BTC to drop below the 200-week mean in a single week, investors are also making sure to pay attention to the weekly close.
This happened most recently when BTC deflected the 200-weekly average. The euro hasn’t drawn much attention in the bitcoin community despite being the second-largest global reserve currency.
In order to provide stability and security, Circle asserts that the new stablecoin is governed and fully guaranteed by reserves held in euros by financial institutions subject to U.S. regulatory oversight.
At the end of June, the Markets in Crypto Assets (MiCA) law, which will establish a regulatory framework that will apply to all stablecoin issuers, is expected to be approved.
By incorporating multi-currency digital banking and on-chain foreign exchange, Circle claims that this new stablecoin service, along with USDC, intends to provide affordable transactions to international trade.
The CEO of Binance has discussed his plans to reenter the Korean cryptocurrency industry. The CEO is still upbeat about the potential of Web 3.0 technology.
Zhao had a meeting with Maeil Economic Daily at the VivaTech facility in France to go over his intentions for the platform’s re-entry into the Korean market.
Elon Musk, SpaceX, and Tesla Inc. are all defendants in a lawsuit seeking an astounding $258 billion in damages for engaging in a crypto pyramid scheme involving Dogecoin (DOGE).
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