CryptoMediaClub
Friday, August 1, 2025
  • All news
  • Bitcoin
  • Ethereum
  • Altcoins
  • NFT
  • Blockchain
  • Analysis
No Result
View All Result
  • All news
  • Bitcoin
  • Ethereum
  • Altcoins
  • NFT
  • Blockchain
  • Analysis
No Result
View All Result
CryptoMediaClub
No Result
View All Result
Home All news

Bitcoin whales aim to reclaim $42K after BTC price dives over 3%

15.12.2023
A A
0
122
VIEWS
ShareShare

Bitcoin (BTC) tapped lows beneath $41,700 after the Dec. 15 Wall Street open as BTC price action fielded fresh sell-side pressure.

BTC/USD 1-hour chart. Source: TradingView

Bitcoin balks at SEC Coinbase rejection

Data from Cointelegraph Markets Pro and TradingView showed BTC/USD diving over $1,300 or 3.2% on the day.

The largest cryptocurrency, fresh from a recovery from snap volatility the day prior, failed to hold its ground at $43,000 as Bitcoin bulls were denied upside continuation.

BTC price weakness accompanied news that United States regulator, the Securities and Exchange Commission (SEC), had refused a request by major exchange Coinbase to rework the rules for crypto.

“Today, the Commission denied a Petition for Rulemaking filed on behalf of Coinbase Global, Inc.,” a statement from SEC Chair Gary Gensler read.

“I was pleased to support the Commission’s decision for three reasons. First, existing laws and regulations apply to the crypto securities markets. Second, the SEC addresses the crypto securities markets through rulemaking as well. Third, it is important to maintain Commission discretion in setting its own rulemaking priorities.”

The SEC is already implicated in the current crypto market narrative thanks to expectations for it to approve the first U.S. Bitcoin spot price exchange-traded funds (ETFs) in early 2024.

In an interview with Bloomberg on Dec. 13, Gensler acknowledged recent legal proceedings linked to the agency’s repeated rejections of Bitcoin spot ETF applications.

The SEC, he said, “does things according to our authorities and how courts interpret our authorities, and that’s what we’ll do here as well.”

Analyzing the latest setup on order books, popular trader Skew flagged increasing bid support intensifying at $41,000.

“Increasing bid depth around $41K, will be interesting from here. Active supply around $44K,” part of a post on X (formerly Twitter) noted.

BTC/USDT order book data for Binance. Source: Skew/X

Subsequent analysis highlighted low-timeframe exponential moving averages, or EMAs, now back in play.

BTC price bulls in Fibonacci showdown

Zooming out, meanwhile, Keith Alan, co-founder of trading resource Material Indicators revealed an ongoing struggle to flip a key weekly level back to support.

Related: US dollar hits 4-month low as Bitcoin trader predicts 10% drop to come

This came in the form of the 0.5 Fibonacci retracement line near $42,500, one of several key hurdles to overcome on the way toward $69,000 all-time highs.

Material Indicators further showed large-volume traders increasing buying activity at the time of writing.

“Mega Whales are buying, and trying to reclaim $42k,” part of X commentary summarized.

BTC/USDT liquidity heatmap for Binance. Source: Material Indicators/X

This article does not contain investment advice or recommendations. Every investment and trading move involves risk, and readers should conduct their own research when making a decision.

Share9Tweet6ShareSharePin2

Related Posts

Tourists in South Korea to Exchange USDT via Crypto ATMs
All news

Tourists in South Korea to Exchange USDT via Crypto ATMs

01.08.2025
0

Visitors to popular tourist spots in South Korea will be able to exchange the stablecoin USDT for fiat through DaWinKS...

Read moreDetails
BNB Holders Can Now Earn Daily Passive Income Through the Officially Launched BNB Payment Integration by Find Mining

BNB Holders Can Now Earn Daily Passive Income Through the Officially Launched BNB Payment Integration by Find Mining

01.08.2025
23% of CFOs in North America Ready to Implement Crypto

23% of CFOs in North America Ready to Implement Crypto

01.08.2025
Coinbase Accuses FDIC of Hiding Operation Chokepoint 2.0 Files 

Coinbase Accuses FDIC of Hiding Operation Chokepoint 2.0 Files 

01.08.2025
Trump Tariffs Return — What Does It Mean for Bitcoin, Ether, XRP, Crypto?

Trump Tariffs Return — What Does It Mean for Bitcoin, Ether, XRP, Crypto?

01.08.2025
Load More
Next Post
SATS (Ordinals) Soars By 50% Following Listing On OKX

SATS (Ordinals) Soars By 50% Following Listing On OKX

0 0 votes
Рейтинг статьи
Subscribe
Notify of
guest
guest
0 комментариев
Oldest
Newest Most Voted
Inline Feedbacks
View all comments

Recommended

Is VINE Elon Musk’s New Favourite Meme Coin?

Is VINE Elon Musk’s New Favourite Meme Coin?

6 months ago
Bitcoin miner Marathon mines invalid block in failed ‘experiment’

Bitcoin miner Marathon mines invalid block in failed ‘experiment’

2 years ago
UAE signs deal to develop carbon credit system on Venom Foundation blockchain

UAE signs deal to develop carbon credit system on Venom Foundation blockchain

2 years ago

Bahamas Court Favors SBF’s Bid to Contest Post-Extradition Charges

2 years ago

Categories

  • All news
  • Altcoins
  • Analysis
  • Bitcoin
  • Blockchain
  • Ethereum
  • NFT
No Result
View All Result

Highlights

23% of CFOs in North America Ready to Implement Crypto

Coinbase Accuses FDIC of Hiding Operation Chokepoint 2.0 Files 

Altcoins lead crash as $751M liquidated in last 24 hours and Bitcoin falls to July low

Trump Tariffs Return — What Does It Mean for Bitcoin, Ether, XRP, Crypto?

Senator Warren Presses US Banking Regulator Over Trump Family’s Crypto Business Links

Ex-OpenSea Employee Cleared in First NFT Insider Trading Appeal — Here’s What Changed

Trending

Tourists in South Korea to Exchange USDT via Crypto ATMs
All news

Tourists in South Korea to Exchange USDT via Crypto ATMs

01.08.2025
0

Visitors to popular tourist spots in South Korea will be able to exchange the stablecoin USDT for...

BNB Holders Can Now Earn Daily Passive Income Through the Officially Launched BNB Payment Integration by Find Mining

BNB Holders Can Now Earn Daily Passive Income Through the Officially Launched BNB Payment Integration by Find Mining

01.08.2025
BlackRock’s BUIDL fund hit by $447M outflow after 18-month record breaking $2.8B inflow

BlackRock’s BUIDL fund hit by $447M outflow after 18-month record breaking $2.8B inflow

01.08.2025
23% of CFOs in North America Ready to Implement Crypto

23% of CFOs in North America Ready to Implement Crypto

01.08.2025
Coinbase Accuses FDIC of Hiding Operation Chokepoint 2.0 Files 

Coinbase Accuses FDIC of Hiding Operation Chokepoint 2.0 Files 

01.08.2025
  • All news
  • Altcoins
  • Bitcoin
  • Blockchain
  • Ethereum
  • NFT
  • Analysis
Editor: cryptomediaclub.com@gmail.com
Advertising: digestmediaholding@gmail.com

Disclaimer: Information found on CryptoMediaClub is those of writers quoted. It does not represent the opinions of CryptoMediaClub on whether to sell, buy or hold any investments. You are advised to conduct your own research before making any investment decisions. Use provided information at your own risk.
CryptoMediaClub covers fintech, blockchain and Bitcoin bringing you the latest crypto news and analyses on the future of money.

© 2023 Crypto News. All Rights Reserved

No Result
View All Result
  • All news
  • Bitcoin
  • Ethereum
  • Altcoins
  • NFT
  • Blockchain
  • Analysis

Disclaimer: Information found on CryptoMediaClub is those of writers quoted. It does not represent the opinions of CryptoMediaClub on whether to sell, buy or hold any investments. You are advised to conduct your own research before making any investment decisions. Use provided information at your own risk.
CryptoMediaClub covers fintech, blockchain and Bitcoin bringing you the latest crypto news and analyses on the future of money.

© 2023 Crypto News. All Rights Reserved

wpDiscuz