Bitcoin Breaks Strong Resistance

Bitcoin began slowly climbing yesterday afternoon. By the evening, it reached a peak just above $26,400. The price has now stabilized above the $26,200 mark, indicating a lack of strong rejection. On crypto exchange Bybit, the price currently stands at $26,293, while on Dutch cryptocurrency exchange Bitvavo, the BTC price in euros is approximately €25,525.

This is the highest price Bitcoin has reached in over a week. In terms of important levels, $26,200 currently serves as a crucial support level. If the price drops below this level, we may see a return to the familiar range between $25,800 and $26,200. On the upside, the next levels to watch are $26,700 and $27,200.

According to crypto analytics platform Santiment, BTC supply on crypto exchanges has increased by 3.1% in the past two weeks, marking the highest two-week increase since early March.

Crypto News While You Were Sleeping

Let’s take a look at the most important crypto news from last night.

Three decentralized finance (DeFi) protocols have become targets of the Commodity Futures Trading Commission (CFTC), the US regulator for derivatives markets. Specifically, 0x, Opyn, and Deridex have been accused of illegally offering leveraged commodities to US individuals.

The CFTC issued orders against 0x, Opyn, and Deridex in a statement on September 8. The protocols have been fined $200,000, $250,000, and $100,000, respectively. They have also been ordered to cease violations of the Commodity Exchange Act and the CFTC’s regulations.

Stay tuned to Crypto Insiders for more information on this matter later today.