Bitcoin maintains $25,000 support | CoinDesk JAPAN | Coin Desk Japan

Last week was a tough week.

U.S. regulators have taken a militant stance, suing major cryptocurrency exchanges and deeming several major altcoins to be “securities.”

But crypto assets show resilience.

Bitcoin (BTC) entered the new Asian week with a 0.4% gain over the 24-hour period near $25,900 and Ethereum (ETH) falling slightly near $1,750.

“The liquidity situation has deteriorated significantly. This has been exacerbated by institutional investors staying out of the market, especially with US market makers staying out of the market fearing a possible SEC crackdown. There are,” LBank Labs senior researcher Johnny Teng told CoinDesk.

“While the S&P 500 continues to hit new monthly highs, the crypto markets are still in trouble.”

Teng said bitcoin’s performance has been solid while bitcoin and ethereum’s sell-off have been minimal and the team should be looking at factors — interest rates, stablecoin outflow trends, the United States, China, He said he is closely monitoring European policy news and developments in the crypto sector to see what will ultimately drive prices.

BitBull Capital’s Joe DiPasquale says bitcoin’s $25,000 support is still “somewhat” maintained, but that could change depending on the upcoming Federal Open Market Committee (FOMC) agenda. said to be sexual.

“Going forward, market participants would do well to monitor regulatory developments and decisions by exchanges such as Binance and Coinbase,” he said.

｜Translation: coindesk JAPAN
｜Editing: Takayuki Masuda
| Image: CoinDesk
｜ Original: First Mover Asia: Here’s Why Bitcoin’s Support is Holding at $25K