Bitcoin Price Prediction as BTC Challenges $36,000 Resistance: Is a Breakout Imminent?
‘s tenacious battle against the $36,000 resistance mark has captured the attention of investors and analysts alike, with the cryptocurrency exhibiting marginal gains of 0.02% to position itself at $34,730 on Saturday.
This comes amidst a broader regulatory sweep, as U.S. authorities set their sights on executives within the cryptocurrency domain, signaling a tightening of oversight.
Concurrently, global spot Bitcoin ETF assets have swelled to an impressive $4.16 billion, reflecting a growing institutional interest in the digital currency.
In an intriguing turn of events, an English school in China has pivoted towards cryptocurrency mining, significantly bolstering its operational capacity with the addition of 220 new mining machines.
As Bitcoin navigates through these developments and inches closer to the crucial $36,000 threshold, the crypto community is abuzz with speculation: is a breakout on the horizon?
Recent government investigations into several prominent figures in the cryptocurrency space could influence market sentiment. Sam Bankman-Fried, once a poster child of the industry, has been convicted of defrauding users of his now-defunct exchange, FTX.
Additionally, the Commodities Futures Trading Commission (CFTC) and the U.S. Securities and Exchange Commission (SEC) have filed a lawsuit against Binance CEO Changpeng “CZ” Zhao, alleging various infractions on his platform.
The other crypto bosses in US authorities' crosshairs https://t.co/ca816wtG52 pic.twitter.com/x7LoAGvzdg
— Reuters (@Reuters) November 3, 2023
Do Kwon, a co-founder of Terraform Labs, was arrested in Montenegro and is also accused of fraud. The SEC charges him with orchestrating a multi-billion-dollar securities fraud involving crypto assets.
Alex
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