Crypto News- Bitcoin’s dive under $27K liquidates $100M #cryptonews @LIKEDCRYPTO
BTC price falls below the 55-day support level at $27,000, but futures market resilience sparks hope for a recovery toward $28,000.
Regulatory uncertainty in the United States significantly increased after Bitcoin miner Marathon Digital received another subpoena. The publicly traded mining company informed investors on May 10 that it received a subpoena from the U.S. Securities and Exchange Commission (SEC) concerning whether it may have violated federal securities laws, among other things, by using related-party transactions.
Furthermore, there’s the additional risk of the 627,522 Bitcoin held by the Grayscale Bitcoin Trust, which has been trading at a steep discount for over a year as Grayscale’s holding company, Digital Currency Group (DCG), struggles with some failing subsidiaries. DCG’s crypto lending and trading firm, Genesis Capital, filed for Chapter 11 bankruptcy protection in January.
Bakkt Mass Delists Tokens Including Aave, Avalanche, Compound, Filecoin, MakerDAO and Uniswap
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