Bitcoin decays, new crypto enforcement action launched

After a major plunge around three weeks ago, Bitcoin (BTC) has largely traded in a fairly tight range between $25,800 and $26,200. The price was trading just below that this week Range, but last night the price rose convincingly through the top of the range. It’s been a while since Bitcoin made such a big move, so today’s update brings you all the essential levels to start your day well prepared!

Bitcoin breaks strong resistance

Bitcoin slowly started to rise late yesterday afternoon. Around 10 p.m., work continued on it and as a result, the price peaked at just over $26,400. There was also no question of a strong rejection, as the BTC price is currently holding above the mentioned USD 26,200. More specifically, the price on the Bybit crypto exchange is $26,293, and on the Bitvavo crypto exchange in the Netherlands, the BTC price in euros is 25,525.

Bitcoin is now at its highest price in over a week. Looking at the key levels, $26,200 is currently serving as the key support level. If the price falls as a result, we are back in the familiar range of $25,800 to $26,200. On the upside, $26,700 and $27,200 are the next levels to watch for.

Crypto analytics platform Santiment also announced yesterday through a post on X, formerly known as Twitter, that BTC supply on crypto exchanges has increased by 3.1 percent over the past two weeks. This appears to be the highest two-week rise since early March.

Sending crypto coins to exchanges is generally done for sale purposes. Perhaps many investors assume there will be no escaping Bitcoin’s infamous September curse this year either.

Crypto News while you slept

Also, we take a look at the top crypto news from last night.

Three decentralized funding (DeFi) protocols have become a target Commodity Futures Trading Commission (CFTC) or the US derivatives market regulator. Specifically, 0x, Opyn and Deridex are accused of illegally offering leveraged commodities to US citizens.

The US regulator announced in a statement Sept. 8 that it had issued orders against 0x, Opyn, and Deridex. The protocols face fines of $200,000, $250,000, and $100,000, respectively. They were also ordered to stop violating the Commodity Exchange Act and CFTC regulations.

You can read more about this later today on Crypto Insiders.

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