Robinhood disclosed its crypto arm received warning from the SEC that could foreshadow enforcement action.A move to above $65,000 early Monday quickly reversed and prices were pressured further after popular brokerage Robinhood discloseda Wells Notice over the weekend from the U.S. Securities and Exchange Commission , a move that often foreshadows an enforcement action against a company.
Despite the halt in the rally, crypto hedge fund QCP Capital observed renewed demand for bitcoin call options for September with a strike prices of $75,000 and $100,000, underscoring the increased optimism that BTC will climb to higher prices over the next few months. Richard Byworth, managing partner of Syzcapital, said in an X post that"there's talk" in Hong Kong about adding the crypto products to the so-called Stock Connect facility, which would allow qualified mainland Chinese investors to access eligible shares listed in Hong Kong.
"Although the dip to $56,500 may have completed the correction, I still expect to see a price of $52-55,000 before wave 4 completes," Glover said, referring to the Elliot Wave theory, a technical analysis that assumes that asset prices move in repetitive wave patterns.
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Source: CoinDesk - 🏆 291. / 63 Read more »
Source: CoinDesk - 🏆 291. / 63 Read more »