Bitcoin (BTC) has been consolidating between $94,000 and $100,000 since early February. Amid this consolidation, investor sentiment remains indecisive, with US spot Exchange Traded Funds (ETFs) recording a $540 million net outflow last week, signaling institutional demand weakness. At the same time, QCP’s report explains Bybit’s ability to swiftly secure a bridge loan to cover the liquidity gap after its recent hack worth $1.4 billion on Friday.
The SEC ends its probe into OpenSea without legal action, rejecting NFTs as securities, marking a win for the NFT and web3 community.
The SEC has closed its investigation into OpenSea without taking any legal action or classifying NFTs as securities. This marks a major win for the NFT sector and a relief for the marketplace as it prepares to launch its token in 2025.
Bitcoin continues to move strictly to the side, while the crypto market dynamics generally resemble a bouncing ball, getting lower and lower over time. The local resistance has moved to the $3.20 trillion area, while the lower boundary has remained near $3.10 trillion for the last three weeks. Thus, the market is accumulating risks that we will get a compressed spring effect with a sharp move in one direction in the coming days.
