Popular cryptocurrency analyst Ali Martinex stated that Bitcoin's "most important support level" is between $26360 and $27160. This range is worth noting as it represents an important quantity of cryptocurrencies
Popular cryptocurrency analyst Ali Martinex stated that Bitcoin's "most important support level" is between $26360 and $27160. This range is worth noting as it represents an important quantity of cryptocurrencies.
According to Martinez's observation, over 2.36 million unique Bitcoin addresses have purchased over 1 million Bitcoins within this price range. This data indicates that a large number of Bitcoin holders have purchased their Bitcoin within this price range, and may therefore be incentivized to prevent prices from falling below that price.
If the price really falls to this level, these holders may purchase more Bitcoin to "support" the price, or refuse to sell their Bitcoin, both of which help keep the price above this range.
However, although the existence of this support level is based on historical trading facts, it is important to note that it does not guarantee future price behavior. The price of Bitcoin is determined by various factors, including global economic conditions, regulatory news, technological advancements, and overall sentiment in the cryptocurrency market.
Support level is a tool used by traders and analysts in the field of technical analysis. This is a price level in which stocks or cryptocurrencies are expected to stop falling as demand (buying interest) exceeds supply (selling interest) at that level.
After the US Securities and Exchange Commission (SEC) filed 13 charges against Coin Holdings Limited, its US subsidiary BAMTrading Services Inc., and its founder Zhao Changpeng, Bitcoin prices significantly fell below the $26000 mark.
These allegations include operating unregistered exchanges, broker-dealers, and clearing houses, distorting trading controls and supervision on the Binance. US platform, as well as unregistered securities offerings and sales.
Coin An responded to the disclosure by the US Securities and Exchange Commission that it has conducted extensive discussions in good faith to reach a negotiated solution to resolve the investigation by the US Securities and Exchange Commission. However, it stated that the US Securities and Exchange Commission had abandoned this procedure and taken unilateral action, a decision that frustrated Coin An.
Binance firmly states that any accusations that user assets on the Binance. US platform have been at risk are incorrect. It also mentioned that Binance, including Binance. US, and all user assets on Binance's affiliated platforms are secure and reliable, and the company will actively defend any allegations to the contrary.
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