Sam Bankman-Fried faces challenges in jail, Tornado Cash's developer is arrested, and a Bitcoin whale holding $3 billion is identified.
Bitcoin ‘overconfidence reigns’ but bulls must reclaim $27.8K — Traderto “regain its bullish status,” argues popular pseudonymous analyst CryptoCon, warning that bulls remained too optimistic about the $26,000 BTC price support holding.
For CryptoCon, the 20-week exponential moving average , now at $27,750, must be won back as support in order for the uptrend to be safe. “I have been covering this moving average a lot recently, but I believe it is critical for Bitcoin to regain its bullish status,” he wrote. The analysis compared current BTC price action to its rebound from 2018 cycle lows. “It is very important that Bitcoin both rises above and retests the 20 Week EMA as support,” CryptoCon noted with a chart showing the similarities between 2019 and 2023, with the retest and subsequent successful EMA reclaim circled.A Chinese government officialfor illegitimate business operations related to running a 2.4 billion Chinese yuan Bitcoin mining enterprise and for unrelated charges of corruption.
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