Here is what happened yesterday in the crypto market:
Top Traders Shift Bearish on Bitcoin and Ether
Following recent record highs, some prominent crypto traders are now expressing bearish sentiment and warning of potential downside risks for both BTC and ETH. This marks a significant shift from previous optimistic price targets.
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Crypto Exchange Bybit Introduces 10x Spot Margin Trading in Europe
Bybit, a leading cryptocurrency exchange, has launched spot margin trading with up to 10x leverage for its European users. This new offering complies with the region’s Markets in Crypto-Assets (MiCA) regulation.
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US Treasury Department Seeks Input on Illicit Crypto Activity Detection
The U.S. Treasury Department has begun work on its “Guiding and Establishing National Innovation for US Stablecoins” (GENIUS) Act, seeking public comments and new ideas to detect and prevent illicit financial activities involving cryptocurrencies.
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Ether Market Volatility Expected Below $4.2K
Crypto traders should be prepared for increased volatility if Ether (ETH) drops below $4,200, as this price point could trigger significant long liquidations. Over 56,638 ETH is currently at risk.
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South Korea’s Jeju City Targets Crypto Holdings of Alleged Tax Dodgers
Tax authorities in Jeju City, South Korea, have initiated actions to freeze and seize crypto assets from individuals suspected of tax evasion. This move highlights a growing trend of authorities targeting digital assets for tax compliance.
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