The US Department of Justice has sued KuCoin for illegally trading funds exceeding $5 billion. Just now, there was a large amount of ETH transferred out of KuCoin. Another platform has collapsed?
Most of KuCoin's main users are foreigners. The movement of funds has caused panic among foreign users, and it is remembered that last year there were reports of legal personnel being taken away from KuCoin. After a year, the Americans finally took action.
Times have changed, and no one expected that in the platform battle of 2018, only Binance and OKEx would have the last laugh. The previously highly anticipated FT and FTX collapsed, and third-tier platforms also shut down one after another, leaving a mess behind.
Platforms have a winner-takes-all effect. The more popular the platform, the more users it will attract. Small platforms can only retain users through high staking interest rates, but ultimately, due to high risk, they go bankrupt and shut down. Therefore, it is safer to keep funds in large platforms.
BTC:
The hourly chart is flat, still in a short-squeeze situation. The top of the hourly chart is decreasing, facing resistance, and accompanied by weakening bullish volume. It needs to test the bottom support. The key support level below is $68,985. Once the volume breaks below $68,985, it will quickly test the bottom and weaken. Next, BTC will rebound at $68,985.
Resistance levels: $70,564, $71,637, $72,356
Support levels: $68,985, $67,835, $66,536
ETH:
10,000 ETH are being transferred to Crypto.com, which has a selling effect on ETH. ETH is still in a rebound situation. The key support level below is $3,515, formed on March 25. If ETH breaks below $3,515 with volume, it will break the deadlock and weaken. Next, ETH will rebound at $3,515.
Resistance levels: $3,592, $3,688, $3,756
Support levels: $3,515, $3,446, $3,398
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