4 hours ago
Bitcoin price started a fresh increase above the $104,000 zone. BTC is consolidating above $105,000 and might aim for a new all-time high. Bitcoin started a decent increase above the $102,500 resistance zone. The price is trading above $104,500 and the 100 hourly Simple moving average. There was a break above a connecting bearish trend line with resistance at $104,000 on the hourly chart of the BTC/USD pair (data feed from Kraken). The pair could start another increase if it stays above the $103,500 support zone. Bitcoin Price Regains Traction Bitcoin price started a decent upward move above the $102,500 zone. BTC was able to climb above the $103,500 and $104,000 levels. The bulls even pushed the price above the $105,000 level. Besides, there was a break above a connecting bearish trend line with resistance at $104,000 on the hourly chart of the BTC/USD pair. The pair surpassed the 50% Fib retracement level of the downward move from the $109,112 swing high to the $100,114 low. Bitcoin price is now trading above $104,500 and the 100 hourly Simple moving average . On the upside, immediate resistance is near the $107,000 level. It is close to the 76.4% Fib retracement level of the downward move from the $109,112 swing high to the $100,114 low. The first key resistance is near the $107,500 level. A clear move above the $107,500 resistance might send the price higher. The next key resistance could be $109,000. A close above the $109,000 resistance might send the price further higher. In the stated case, the price could rise and test the $110,000 resistance level and a new all-time high. Any more gains might send the price toward the $112,500 level. Downside Correction In BTC? If Bitcoin fails to rise above the $107,000 resistance zone, it could start a downside correction. Immediate support on the downside is near the $104,500 level. The first major support is near the $103,500 level. The next support is now near the $102,800 zone. Any more losses might send the price toward the $100,500 support in the near term. Technical indicators: Hourly MACD – The MACD is now gaining pace in the bullish zone. Hourly RSI (Relative Strength Index) – The RSI for BTC/USD is now above the 50 level. Major Support Levels – $104,500, followed by $103,500. Major Resistance Levels – $107,000 and $108,500.
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SEC Appoints Hester Peirce to Cryptocurrency Task Force: The Bullish Development Everyone Expected Could Be Coming Soon
The U.S. Securities and Exchange Commission (SEC) has appointed Commissioner Hester Peirce, widely known as “Crypto Mom,” to lead its newly established cryptocurrency task force. Crypto journalist Zack Guzman called the appointment “insanely bullish” for the industry, noting that Peirce had previously outlined three key predictions about the future of a pro-crypto SEC, and that those predictions are increasingly likely to come true. One of Peirce’s main criticisms of the SEC has been its reliance on enforcement actions as a regulatory tool. Under his leadership, a newly formed crypto task force aims to create a comprehensive and transparent framework for compliance. “Today’s announcement to establish a task force to finally establish clear rules confirms the ‘day one’ changes he envisioned,” Guzman said. The move away from retroactive sanctions marks a potential turning point for the industry by offering a roadmap for compliance instead of vague guidelines. Related News: Are Big Market Cap Altcoins or Small Market Cap Altcoins Better for a Portfolio? Analytics Company Shares Its Strategy Peirce has long advocated an approach that fosters innovation while protecting investors. He envisions a regulatory environment where developers and founders can create new technologies without constant fear of sanctions. Peirce Predicted Staking Could Be Allowed in Ethereum Spot ETFs in New Administration Perhaps the most significant of Peirce’s predictions involves the SEC potentially approving staking-based exchange-traded funds (ETFs), which Guzman noted could be one reason why the Ethereum Foundation recently made strategic moves regarding staking. “Peirce predicted that the SEC could possibly move ‘early’ to greenlight staking through ETFs, which would be a huge development,” Guzman said. *This is not investment advice. Continue Reading: SEC Appoints Hester Peirce to Cryptocurrency Task Force: The Bullish Development Everyone Expected Could Be Coming Soon NewsBTC
Crypto Legislation in the US May Be Finalized by 2026, Says TD Cowen, But!
The post Crypto Legislation in the US May Be Finalized by 2026, Says TD Cowen, But! appeared first on Coinpedia Fintech News According to investment bank TD Cowen, the United States is expected to finalize its long-awaited crypto regulations by 2026. This timeline may bring hope to crypto investors and businesses alike, but challenges remain, including political disagreements and unexpected distractions like the TRUMP memecoin. Why Crypto Regulations Are Crucial? A note from TD Cowen’s Washington Research Group, led by Jaret Seiberg, highlighted the importance of bipartisan support in advancing the crypto market structure bill. The absence of clear regulations has limited the growth of the crypto market in the U.S. Without legal certainty, potential investors remain hesitant, and businesses face operational uncertainties. Such legislation is crucial for resolving regulatory gray areas, which have slowed the growth of the crypto sector. Seiberg’s team notes that political divides could delay these critical advancements. Impact of the TRUMP Memecoin One unexpected factor affecting crypto legislation is the launch of the TRUMP memecoin, a cryptocurrency introduced by former President Donald Trump. The token launched days before his inauguration, saw an initial market capitalization of over $14 billion before losing nearly half its value. It now trades at around $42 with a market cap of $8 billion. TD Cowen’s analysts warned that the launch of TRUMP could worsen partisan disagreements, further delaying progress on crypto legislation. Democrats are expected to investigate the token’s price movements and whether it was used by foreign entities to gain influence. Republicans, on the other hand, are likely to defend Trump, making it harder to build the bipartisan cooperation needed to pass the bill. Reputational Risks for the Crypto Industry Critics from both the crypto industry and the policy community have expressed concerns about the TRUMP memecoin. Many believe it distracts from the industry’s broader goals and adds reputational risks. However, Jaret Seiberg’s team at TD Cowen notes that bipartisan cooperation is crucial for passing crypto legislation. NewsBTC
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SEC to Hold First Meeting Under Mark Uyeda’s Leadership
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