On Tuesday, SEC Chair Gary Gensler re-confirmed his plan to crack down on cryptocurrencies, and traders’ regulatory concerns are confirmed by this key Bitcoin futures and options indicator.
After 46 consecutive days of trading above $42,000, Bitcoin (BTC) price started to show weakness on Sept. 21. Over the last three days, the 13% accumulated loss was enough to erase the hard-earned gains added since Aug. 6. Historicals also show that the previous bearish cycle took 79 days to regain the all-important $42,000 level.Traders’ attention turned to the start of the U.S. Federal Reserve’s monetary meeting, where the financial authority is expected to indicate whether it will curtail the $120 billion monthly asset repurchase stimulus program. Curiously, as all this takes place, China’s equity markets, as measured by the iShares MSCI China ETF ($MCHI), rebounded 1% on Sept. 21.Is China really the root of the recent correction?T
S&P downgrades USDT’s dollar peg rating to lowest score
S&P Global Ratings downgraded Tether’s USDt to its lowest stability rating, raising concerns over its dollar peg. Tether…
