1. Market Wrap: Bitcoin Hovers Around $34.2K While Options Traders Pay Up for Possible ETH Upside
After a record day in spot volume, bitcoin’s price went up, down and back up. Meanwhile, most ether options traders are bearish, some are paying up in case it gets close to record highs.
Bitcoin (BTC) trading around $34,278 as of 21:00 UTC (4 p.m. ET). Gaining 3% over the previous 24 hours.
Bitcoin’s 24-hour range: $32,528-$36,605
BTC below the 10-hour and 50-hour moving averages on the hourly chart, a bearish signal for market technicians.
2. Multiple Tokens See Rally Amid Looming ‘Alt Season’
Bitcoin and ether may be pulling back from their all-time highs but alternative cryptos are starting to see action.
As prices for bitcoin and ether retreat from their recent highs, the strong performance of other cryptocurrencies indicate traders and investors may now be turning to alternative coins (altcoins) for potential high returns.
3. Visa Abandons $5.3B Acquisition of Plaid Over DOJ Antitrust Concerns
Visa called off its $5.3 billion acquisition of Plaid, the fintech firm serving as a fiat bridge for a number of crypto and decentralized finance (DeFi) applications.
The U.S. Department of Justice (DOJ) announced Tuesday that the two companies have officially called off their planned merger in the wake of the DOJ’s lawsuit last year that sought to block the deal.
4. Brian Brooks, Crypto-Friendly Bank Regulator, Expected to Step Down This Week
The Acting OCC (Office of the Comptroller of the Currency) head will reportedly end his brief tenure running the federal banking regulator by the end of the week.
5. UK Treasury Calls for Feedback on Approach to Cryptocurrency and Stablecoin Regulation
The U.K. Treasury has released a consultation paper to gather feedback from stakeholders concerning the government’s regulatory approach to cryptocurrencies and stablecoins.
The consultation solicits opinions on how the U.K. can make sure its regulatory framework is “equipped to harness the benefits of new technologies, supporting innovation and competition, while mitigating risks to consumers and stability,” and incorporates advice from the Cryptoassets Task Force.
With a large proportion of crypto assets falling outside regulatory oversight, the Treasury says they may pose a risk to consumers and lack financial safeguards.
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January 13, 2021