Bitcoin (BTC) experienced a dump and failed to hold the 10,600 - 10,700 area yesterday. Today, price is currently trading above 10,400 and has little movement after the dump but the structure seems to be holding in a wide range and if price fails to hold the 10,400 - 10,200 area, we may see further dump to test key support at around 10,000 - 9,800. Key resistance was established at 11,000 level (50 MA resistance).
Global market cap is at $330B, while BTC's market cap is at $193B.
Brazilian fund manager Hashdex has partnered with Nasdaq to launch the world's first crypto exchange-traded fund (ETF). According to media outlet Infomoney, the ETF is expected to be available for trading on the Bermuda Stock Exchange (BSX) by the end of the year. BSX announced the approval of the 'Hashdex Nasdaq Crypto Index' on Sept. 18 and there will be 3 million E shares to be issued on the platform. No further details were added, while Hashdex said other important info regarding the product will be released by Nasdaq on the launch date of the product.
The United States Office of the Comptroller of the Currency (OCC) has published the first detailed national guidance on how stablecoins should be treated under law - and clarifying that national banks can provide services to stablecoin issuers in the country. An interpretative letter signed by Senior Deputy Comptroller Jonathan Gould explains how banks should handle stablecoin reserves, but specifically refers to stablecoins that are backed on a one-to-one basis by fiat currencies. According to this letter, stablecoin issuers can point to the fact that regulated banks hold their reserves to convinces the general public that they are safe.
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