The leading cryptocurrency, Bitcoin (BTC), has failed to regain its $99,000 resistance level in recent days, leading to increased selling and uncertainty in the market. Analysts believe that this could result in Bitcoin retreating towards the $80,000 to $90,000 range. Investors are cautious and focused on put options with strike prices of $80,000 and $90,000, indicating that downside risks are being priced in. Despite this, there is also some good news, with the US Securities and Exchange Commission downsizing its crypto enforcement division and the FDIC working on guidelines that would allow banks to engage in cryptocurrency activities without prior regulatory approval. Additionally, the listing of BERA on Binance caused a significant rally in its price, diverting liquidity away from other altcoins and contributing to an altcoin sell-off.



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