Episode 459
Bitcoin Bull Market to Continue
Bitcoin's 200-week simple moving average suggests the ongoing range play between $90K and $110K will likely resolve bullishly.
Options on Deribit show call options are more expensive than put options, indicating a market expectation of rising prices.
Most open interest is concentrated in call options at strikes higher than BTC's going market price, reflecting bullish expectations.
Binance and SEC Dispute Paused
A U.S. district judge has granted a 60-day pause in the ongoing legal battle between Binance and the SEC, allowing both parties to assess new regulatory developments.
The pause comes after the establishment of a new SEC crypto task force, which could impact and facilitate the resolution of the case.
Binance has been under the SEC's scrutiny since 2023 for alleged violations of U.S. securities laws.
Crypto Regulation in Hong Kong
Hong Kong can seize the mantle as Asia's crypto hub by establishing a proper regulatory environment, providing market education, and offering investor-friendly assets and features.
The territory has already made strides in regulating virtual asset trading platforms and has a robust sandbox program for stablecoins and discretionary accounts.
A transparent regulatory environment will be key to attracting investors and businesses to Hong Kong's crypto market.
