Coinbase Indicates SEC Requires Only BTC to Be Retained, Delisting All Coins Including ETH, Institutional Funds Flee, Market Expected to Decline.
The US Securities Commission has stated that, apart from BTC, all other coins are considered securities.
Fortunately, the interest rate law passed at the end of July recognizes CFTC's management of digital assets. Otherwise, the US version of 94 might come, and mainstream coins could collapse across the board.
In the past few days, the popular BALD has plummeted to zero. There are rumors that BALD was created by the bald-headed SBF. Isn't this guy under house arrest? It is said that the bald-headed individual can only use a flip phone at the moment, and that's it.
In the past few days, there has been significant movement in whale addresses. Not only has CRV almost dropped to zero, but a16z has also transferred all MKR to Coinbase, which is expected to exert downward pressure on the market. Pay attention to hedging.
BTC:
BTC has fallen below $29,000, probing along the 5-day moving average, entering a downward trend. The key point for the 120-day moving average is $28,000. If it holds above $28,000, it will continue to support the market and rise. Patience is required to wait for BTC to continue probing the bottom.
ETH:
Yesterday, it was mentioned that dormant ETH addresses were activated, which has led to a bearish expectation for ETH. ETH has broken the $1,850 box support and $1,780 is the 200-day support line for ETH. If it holds above $1,780, it will continue to build a base and strengthen.
BCH:
BCH is trading sideways along the 5-day moving average, with the hourly chart showing a V-shaped decline, confirming the top selling pressure. Patience is required to wait for entry opportunities.
FTT has submitted a restructuring, and FTT has risen in response. Nigeria has stated that BN is an illegal platform, and all digital assets belong to the securities business. Pay attention to the selling pressure on BNB in the near future. Just now, the US has stated that staking rewards also need to be taxed, which has a bearish expectation effect on DeFi-related coins.
For more information, follow the public account: Cryptocurrency Wolf King
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