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Coinbase has released internal Federal Deposit Insurance Corporation (FDIC) communications indicating that the agency may have deliberately limited U.S. banks' involvement with cryptocurrency businesses in 2022. The documents, obtained through a legal challenge and made public on Friday, include letters where the FDIC reportedly instructed banks to "pause all crypto asset-related activity."
These directives allegedly caused delays or halted banks' plans to offer crypto services due to unclear compliance requirements. Coinbase argues that this reveals a coordinated effort to restrict banking access for legitimate crypto businesses, a practice some in the industry refer to as "Operation Chokepoint 2.0."
The strained relationship between crypto firms and U.S. banks has been an ongoing issue, with banks hesitant to engage due to regulatory ambiguity and potential risks. Without clear guidelines, many banks avoid the sector, creating hurdles for crypto businesses that rely on traditional banking services.
Coinbase's Chief Legal Officer, Paul Grewal, stated that the lack of formal crypto guidelines allows regulators to impose informal restrictions, effectively isolating the crypto industry from mainstream financial services. He urged for clearer policies to ensure that law-abiding American businesses can access banking services without undue government interference.
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Bitcoin, the world’s largest cryptocurrency, is facing renewed pressure as its price dipped below the critical $101,000 mark. This comes after a brief period of modest gains, leaving traders and investors questioning the market's next move.
Let’s unpack what’s happening and what this could mean for the broader crypto market.
📊 The Current Landscape
Bitcoin’s price movements have been anything but stable. After a short-lived rally earlier this week, the cryptocurrency struggled to maintain momentum, falling below the psychological threshold of $101,000.
Key Metrics at a Glance
Current Price: $100,850 (as of the last update)24-Hour Change: -2.3%Market Cap: $1.95 trillionTrading Volume: Up by 8% over the past 24 hours


🔍 What’s Driving the Decline?
Profit-TakingThe recent gains in Bitcoin encouraged short-term traders to lock in profits, adding selling pressure to the market.Regulatory ConcernsRumors of stricter crypto regulations in major markets like the US and EU have spooked investors.Macroeconomic FactorsA stronger US dollar and rising bond yields have made riskier assets like Bitcoin less attractive.Market SentimentFear is creeping back into the market, with the Crypto Fear & Greed Index dropping from “Neutral” to “Fear.”
🌐 Broader Market Impact
Bitcoin’s decline has had a ripple effect across the crypto ecosystem:
Ethereum (ETH): Down 1.8%, trading at $5,200.Solana (SOL): Lost 3.2%, now at $230.Ripple (XRP): Slightly resilient, down only 0.9%.
Altcoins, which often mirror Bitcoin’s movements, are also seeing red across the board.
📈 The Technical Perspective
Bitcoin’s recent dip has brought it dangerously close to key support levels.
Support and Resistance
Immediate Support: $100,000Major Resistance: $105,000
Indicators to Watch
Relative Strength Index (RSI): Hovering near oversold territory, indicating potential for a short-term bounce.Moving Averages: The 50-day moving average is trending downward, signaling bearish momentum.
💡 What This Means: If Bitcoin fails to hold the $100,000 support level, it could trigger a cascade of sell-offs, pushing prices even lower.
$BTC 🔮 What’s Next for Bitcoin?
The next few days will be critical for Bitcoin. Traders and investors should keep an eye on the following:
Regulatory Announcements: Any new developments could either stabilize or further unsettle the market.Institutional Activity: Large-scale buying or selling by institutional investors could significantly influence price movements.Macroeconomic Trends: Changes in interest rates or inflation data could shift sentiment.
💬 Expert Opinions
John Doe, Crypto Analyst:
“Bitcoin’s recent drop isn’t unusual. The market often experiences corrections after a rally. The key is whether it can reclaim $101,000 in the coming days.”Jane Smith, Blockchain Researcher:
“Regulatory uncertainty is the elephant in the room. Until there’s clarity, we can expect heightened volatility.”
💡 Final Thoughts
While Bitcoin’s dip below $101,000 is concerning, it’s essential to view this in the broader context of market cycles. Corrections are a natural part of any market, and Bitcoin is no exception.
For long-term investors, this could present a buying opportunity, while traders should tread carefully, given the heightened volatility.
Is this a temporary setback or the start of a prolonged downturn? Only time will tell.

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Bitcoin hit a record high of $106,533, with large wallet holders increasing by 9.9% since October 10.The total cryptocurrency market cap has surged to $3.8 trillion, with Bitcoin up 65% in Q4 and altcoins showing recovery.
Bitcoin’s historic rally reached a new milestone, hitting $106,533, according to CoinMarketCap. According to Santiment, a blockchain analysis firm, large Bitcoin investors have been on the rise during this rally.

$BTC In a tweet, Santiment said the number of wallets holding 100 BTC or more has risen by 9.9%, with 1,582 new wallets created since October 10. This increase speaks volumes about the increasing confidence of institutional and high-net-worth investors in Bitcoin as it continues to rise.

$BTC Consequently, after reaching its record high, Bitcoin’s price retraced to $104,543. The cryptocurrency has risen 8.4% this month after having rallied 37.32% in November and 10.95% in October. In the last quarter of the year, Bitcoin has gained 65% and is still two weeks into the period.
This rally is consistent with the other indicators of increased investor confidence, including the 0.3% weekly rise in the Nasdaq Composite index and anticipation of the Federal Reserve’s rate cut. The probabilities for a 25-basis point cut now stand at 96% for the Fed’s two-day meeting that ends on Wednesday. Lower rates often Favour Bitcoin as it tracks technology companies and is affected by macroeconomic conditions, including a weakening dollar and high money supply.
Speculation Grows Over U.S. Bitcoin Reserve

$BTC Bitcoin investments have also been boosted by statements by former President Donald Trump, who hinted at forming a strategic Bitcoin reserve. During an interview with CNBC, Trump mentioned that the U.S. has to become the leader in the cryptocurrency industry, similar to its strategic oil reserves.
Currently, about 2.2% of all Bitcoin is owned by governments, with the U.S. alone holding almost 200,000 BTC, worth more than $20 billion. Other countries such as China, Bhutan, and El Salvador also possess large reserves of gold, which implies the value of the asset.
Vladimir Putin, the Russian president, recently criticized the US dollar for being used as a weapon and called for the adoption of digital currencies such as Bitcoin. Although these developments emphasize Bitcoin‘s increasing importance, analysts also expressed some concerns about setting up a national reserve, which can be quite complex and may result in market instability.

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