4 hours ago
Over the past week, Bitcoin has experienced a strong market correction with prices falling as low as $80,000. Based on a double top formation, Bitcoin is expected to head to $76,000 before re-establishing an uptrend. However, market analyst Cryptododo7 has indicated the possibility of a lower market bottom. Related Reading: Bitcoin Miners Are Hoarding Their Crypto Despite Plunge—Here’s What It Means Bitcoin Bears In Control: Will $67,000 Emerge As Ultimate Support Level? The Bitcoin market fell under siege in the last week with total liquidations reaching $670 million. During this period, the assets crashed by over 15% from an opening market price of $95,000 confirming the formation of a double-top pattern. For context, the double top is a bearish reversal chart pattern that appears after an uptrend. It consists of two peaks at a similar price level, separated by a pullback. This formation is well represented by Bitcoin’s price at $108,000 in December and $109,000 in January separated by the price correction in late December. Amid the falling prices in the past week, Bitcoin dipped below the double top neckline level at $91,500 confirming a price reversal. In accordance with the bearish signal, Bitcoin is expected to return to $76,000 around which it embarked on its price rally to its initial peak at $108,000. However, Cryptododo7 explains there is potential for BTC to rapidly drop to its maximum Fibonacci level at $67,000 which would serve as the support level with no further downside. In gauging the eventual ultimate Bitcoin support level, Cryptododo7 notes that market reaction at $73,000-$76,000 will be quite important as strong buying pressure at this level could result in a sharp price rebound. Related Reading: Don’t Call Bitcoin Bottom Just Yet, CryptoQuant Head Says: Here’s Why BTC Active Addresses Rise Amid Price Fall In other news, blockchain analytics firm IntoTheBlock reports that the number of Bitcoin active addresses is increasing despite the ongoing price fall. Notably, this metric has reached its highest daily level since December 2024 suggesting a significant surge in on-chain activity. Historically, such developments usually occur at major market turning points i.e. either peaks driven by new entrants rush or bottoms due to panic selling and opportunistic buyers. According to IntoTheBlock, this surge in on-chain activity could indicate that the BTC market could be at a crucial turning point, however, investors should note that no single metric guarantees a price reversal. At press time, BTC trades at $84,961 with a 2.54% increase in the past day. Meanwhile, daily trading volume is up by 13.69% and valued at $71.43 billion. Featured image from iStock, chart from Tradingview
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Ukraine Takes Bold Steps to Tax Cryptocurrency Transactions
Ukraine plans to tax cryptocurrency transactions between 5% and 10%. Untraceable assets could face a hefty 23% tax rate. Continue Reading: Ukraine Takes Bold Steps to Tax Cryptocurrency Transactions The post Ukraine Takes Bold Steps to Tax Cryptocurrency Transactions appeared first on COINTURK NEWS . NewsBTC
![JPMorgan Chase CEO Jamie Dimon is addressing controversy over how and why some American citizens and businesses are abruptly finding themselves kicked out of the banking system. After meeting with Republican lawmakers in Washington, D.C. on the subject of “debanking,” Dimon told reporters that Chase never drops customers over their religious or political affiliations. Instead, Dimon said unclear federal guidelines, especially around anti-money laundering rules, force banks to deny services out of compliance fears, reports Yahoo Finance. When squarely asked if regulators are to blame for debanking, Dimon responded, “Pretty much, yeah.” “There are a lot of things that should be fixed. [Anit-Money laundering laws] are extraordinary, and it does cause a lot of people to be pushed out of the system because banks were afraid of being sued, fined, because if, after the fact, something goes wrong — coulda, woulda, shoulda — you could pay a billion dollars.” Dimon’s remarks come after President Trump hammered Bank of America and JPMorgan Chase during a virtual World Economic Forum session, accusing them of wrongly denying conservatives access to bank accounts. Republican lawmakers are now pushing for legislation that would clearly explain when banks can and cannot reject services for customers. The list of bankers included in the closed-door meeting in Washington included Bank of America CEO Brian Moynihan, Wells Fargo CEO Charles Scharf, Capital One CEO Richard Fairbank and CEOs from several other large US financial institutions. Don`t Miss a Beat – Subscribe to get email alerts delivered directly to your inbox Check Price Action Follow us on X , Facebook and Telegram Surf The Daily Hodl Mix Disclaimer: Opinions expressed at The Daily Hodl are not investment advice. Investors should do their due diligence before making any high-risk investments in Bitcoin, cryptocurrency or digital assets. Please be advised that your transfers and trades are at your own risk, and any losses you may incur are your responsibility. The Daily Hodl does not recommend the buying or selling of any cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing. Generated Image: Midjourney The post JPMorgan Chase CEO Admits US Banks ‘Push People Out of the System’ After Trump Hammers Chase, Bank of America Over Abrupt Account Terminations appeared first on The Daily Hodl .](/image/67c349f81f0bd.jpg)
JPMorgan Chase CEO Admits US Banks ‘Push People Out of the System’ After Trump Hammers Chase, Bank of America Over Abrupt Account Terminations
JPMorgan Chase CEO Jamie Dimon is addressing controversy over how and why some American citizens and businesses are abruptly finding themselves kicked out of the banking system. After meeting with Republican lawmakers in Washington, D.C. on the subject of “debanking,” Dimon told reporters that Chase never drops customers over their religious or political affiliations. Instead, Dimon said unclear federal guidelines, especially around anti-money laundering rules, force banks to deny services out of compliance fears, reports Yahoo Finance. When squarely asked if regulators are to blame for debanking, Dimon responded, “Pretty much, yeah.” “There are a lot of things that should be fixed. [Anit-Money laundering laws] are extraordinary, and it does cause a lot of people to be pushed out of the system because banks were afraid of being sued, fined, because if, after the fact, something goes wrong — coulda, woulda, shoulda — you could pay a billion dollars.” Dimon’s remarks come after President Trump hammered Bank of America and JPMorgan Chase during a virtual World Economic Forum session, accusing them of wrongly denying conservatives access to bank accounts. Republican lawmakers are now pushing for legislation that would clearly explain when banks can and cannot reject services for customers. The list of bankers included in the closed-door meeting in Washington included Bank of America CEO Brian Moynihan, Wells Fargo CEO Charles Scharf, Capital One CEO Richard Fairbank and CEOs from several other large US financial institutions. Don`t Miss a Beat – Subscribe to get email alerts delivered directly to your inbox Check Price Action Follow us on X , Facebook and Telegram Surf The Daily Hodl Mix Disclaimer: Opinions expressed at The Daily Hodl are not investment advice. Investors should do their due diligence before making any high-risk investments in Bitcoin, cryptocurrency or digital assets. Please be advised that your transfers and trades are at your own risk, and any losses you may incur are your responsibility. The Daily Hodl does not recommend the buying or selling of any cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing. Generated Image: Midjourney The post JPMorgan Chase CEO Admits US Banks ‘Push People Out of the System’ After Trump Hammers Chase, Bank of America Over Abrupt Account Terminations appeared first on The Daily Hodl . NewsBTC
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