Bitcoin price in dangerous territory, big stablecoin news

A new day is at the door. For the early risers among us, here’s a quick rundown of Bitcoin (BTC) price, last night’s crypto news, and the current state of affairs. Bitcoin is keeping a low profile and is currently trading at the same price as yesterday. What did the prize do while you slept, and what might it hold?

Bitcoin price is in trouble

Bitcoin price fell rapidly to a low of just above $25,800 last night. After that, Bitcoin immediately recovered and rose to a high of $26,200. In that regard, the price is still trading in a fairly tight range around $26,000.

Bitcoin price in dangerous territory, big stablecoin news
The Bitcoin price of the last 24 hours clearly displayed. – Source: CoinMarketCap

The current BTC price on crypto exchange Bybit is $26,025, down just $10 from yesterday’s price level. On the Dutch Bitvavo, the bitcoin price is 23,857 euros.

Noted bitcoin analyst Will Clemente said in a post on X, formerly known as Twitter, that bitcoin is back below its 200-day and 200-week levels for the first time since early January. Moving averagesor moving averages, trades.

Yesterday divided Analyst Ali up realized price fell after falling below the 200-day moving average. The realized price is currently around 20,350. It remains to be seen whether this will actually happen.

In any case, volatility has been at extremely low levels since Bitcoin’s big drop and it appears to be a countdown to the next big price move. About $25,000 is important Support Who must try to prevent further bloodbath?

Crypto news from last night

There was big news last night brought outside which refers to the popular stablecoin USD Coin (USDC). Coinbase, the US-listed crypto exchange, will acquire a minority stake in Circle, the publisher of USDC. In addition, the companies are dissolving theirs center consortium, a voluntary governance group established five years ago to oversee USDC. The two organizations jointly created USDC.

As part of this move, Circle will fully internalize the issuance and management of the second largest stablecoin. Additionally, USDC will be launched on six new blockchains starting in September. Which networks will welcome the stablecoin has not yet been announced.

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