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Bitcoin bears are closing in on a rare win, as they have the advantage in this week’s $600 million BTC options expiry. This week’s Bitcoin (BTC)  options expiry on Friday, July 21, could solidify the $30,000 resistance level and give the bears the upper hand for the first time since the 21% rally between June 14 and June 21. Bitcoin options expiries coincide with volatility A review of Bitcoin’s recent price action shows that three out of the last four BTC options expiries triggered significant price movements, making it crucial for traders to pay close attention to these events. Bitcoin/USD price index, 4-hour. Source: TradingView Notably, Bitcoin’s price has consistently shown strong reactions following the weekly 8:00 am UTC options expiry. While causation cannot be established, the magnitude of these price swings warrants extreme caution leading up to the weekly expiry on July 21. Bitcoin bears benefit from stricter regulations While this week’s options expiry could give bears ...

SEC Files Lawsuit Against Coinbase The SEC’s complaint, based on information obtained, alleges that Coinbase has been functioning as an unregistered broker since at least 2019. The exchange is accused of soliciting potential investors, handling customer funds and assets, and charging transaction-based fees without obtaining the necessary registration. advertisement Read More: Who Will Win, US SEC Or Crypto Giant Binance? Furthermore, the SEC claims that Coinbase has operated as an unregistered exchange, providing a marketplace that brings together buyers and sellers of various crypto assets and executing transactions without proper authorization. Additionally, the complaint states that Coinbase has operated as an unregistered clearing agency, holding customers’ assets in Coinbase-controlled wallets and facilitating transactions by debiting and crediting relevant accounts. SEC Targets Coinbase’s Staking Program Notably, the lawsuit a...

Crypto traders expecting a price reversal could use this options strategy to get positioned in Bitcoin. Bitcoin’s price broke below its 55-day resistance at $27,000 on May 12, down 12.3% in 30 days. But more importantly, it decoupled from the S&P 500 Index, which is basically flat from 30 days ago and 15% below its all-time high. Bitcoin price in USD (right) vs. S&P 500 futures (left), 12-hour. Source: TradingView As the chart indicates, for some reason, Bitcoin (BTC) investors believe that the favorable macroeconomic trends for risk markets were overshadowed by the increasing risk perception of the cryptocurrency sector. Financial crisis could fuel Bitcoin’s price increase For starters, there’s the impending United States government debt ceiling crisis, which, according to U.S. Treasury Secretary Janet Yellen, could cause an “economic and financial catastrophe." The increased risk of default should, in theory, be beneficial for scarce assets, as investors seek shelter f...

The crypto industry has struggled to thrive in the U.S. The uncertain regulatory environment and the hostility of lawmakers towards the industry have curbed its growth. As this rocky relationship between the crypto market and the U.S. government persists, businesses may soon move out of the region. Brian Arm strong , the CEO of Coinbase seems to be stirred by the lack of regulatory clarity in the U.S. This has further prompted him to highlight the possibility of the firm moving out of the U.S. Appearing at the Fintech Week in London, Arm strong stated while answering a question put forth by U.K.’s former Chancellor George Osbourne, “Anything is on the table, including relocating or whatever is necessary.” Coinbase has a strong hold on the U.S. market. Now that Binance is under the radar of the government, the Armstrong-led exchange could have had an upper hand. However, it seems like regulators were targeting the entire industry and not just one firm. He further added, ...