Binance Under Investigation in France
We see that Binance has experienced negative developments in many countries after the SEC lawsuit was filed in the US. Finally, on Friday, France opened an investigation. The exchange is under investigation in France for failing to fulfill anti-money laundering obligations and illegally influencing customers. Binance also announced last week that they decided to stop their operations in the Netherlands due to failure to reach an agreement with regulators, while it is known that they have some problems in Nigeria.
Blackrock ETF Application
Last week, we shared the news that BlackRock, the world’s largest asset management company, applied for the Spot Bitcoin ETF. While this application was one of the most important developments of the past week and weekend, positive and important evaluations on this issue continue to come. According to the statistics shared by Finbold, 575 of BlackRock’s 576 ETF applications were approved. Its only other rejected application was in 2014, when it rejected an ETF’s request to create an ETF that was actively managed but not disclosed on a daily basis.
Important Statement on Ethereum from JPMorgan
JPMorgan strategists believe that the US Congress could put Ethereum’s classification in the category of other assets so that it is not a security. The reason why Congress does not want to classify Ethereum as a security is seen as not wanting to victimize millions of investors. It was also noted that these assessments follow the release of the Hinman Files. It was also stated that if they did not prefer this path, they could be evaluated in the same category as Bitcoin.
On-Chain Data Individual Customers Collect Bitcoin
When on-chain data was analyzed, it was seen that investors holding between 0.01-1 BTC, which are considered as individual investors, bought the $ 25,000 drop. When individual investor behavior was analyzed, it was seen that individual investors had a similar behavior in the SVB collapse in March and that individual investors had an impact on the rise in the price.
US Court Approves Binance.US-SEC Agreement
Following the SEC’s filing of the Binance case, the SEC applied for an asset freeze on Binance and its subsidiaries. However, afterwards, the parties sought a joint solution to avoid victimization of customers and agreed not to freeze assets pending the outcome of the litigation.
BITCOIN [BTC]
Bitcoin is pricing at $ 26,440 with a 0.38% gain in value as of today morning hours. With the support seen in the range of 24,800-25,000 in Bitcoin, we see that a rise came from the critical zone and the price rose to the 26,900 region at the weekend, but retreated without breaking the 26,800 resistance upwards. We can say that the resistance in the 26,600-26,800 region of the 4-hour descending movement in Bitcoin needs to be broken, if there is no breakthrough, it may see a pullback, but for now, we can say that the 21-day EMA is working well in the morning hours and can serve as support in this process.
ETHEREUM [ETH]
ETH, which gained 0.36% as of morning hours, is priced at $ 1672. After retreating to the 1630 level, which is the downside breakout target of the horizontal channel in Ethereum, it made a nice turn and returned to the 1670 region. We can say that the target price in Ethereum is the range of 1710-1720 and that it will be very important to exceed this region again in terms of rising and returning to old levels, the break of the 1720 level has not occurred for quite a long time, and in such a case, we can say that earlier selling pressures may occur due to the high level of unease in the market compared to the previous period.
