Turn BTC now, reduce slightly to receive support

2023년 6월 22일

With the current uptrend, it's time for BTC to fall back to the support area to continue rising:

Market depth data, an account-level term for financial markets, shows that a $400,000 bitcoin purchase with the pair could be as much as 2% in price difference, so with the minimum is $824,000 for the Bitcoin/USD pair.

This comes after the US Securities and Exchange Commission (SEC) filed a lawsuit against Binance.US on May 6. Since then, with market founders and traders leaving the exchange due to fears of a potential asset lockout, the market depth of Binance.US has dropped 78.8%.

Binance.US' market share has also fallen relative to other US exchanges from 8% to 1.5% earlier this year, according to a report published by Kaiko on June 20. The study also found that the share of Coinbase (NASDAQ:COIN), the largest cryptocurrency exchange in the US, fell from 56% to 50.5%.

Although Binance.US has reached an agreement with the SEC to not freeze its assets, it still has to apply extreme measures such as reducing staff to prepare for a legal battle with the SEC.

BTCUSD SELL 30200 - 30300 💯💯

✅ TP1: 29800
✅ TP2: 29300
✅ TP3: 28800

🛑 SL: 30800