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CZ, the former CEO of Binance, the world's largest cryptocurrency exchange, Speaking at the Bitcoin MENA conference held in Abu Dhabi, Changpeng Zhao made statements about countries creating Bitcoin (BTC) reserves. He Said "China will be among the countries that will adopt a strategic Bitcoin reserve, likely following a plan proposed by incoming US President Donald Trump and his administration". He also added that "With the increasing global trends towards Bitcoin, China will accumulate secret Bitcoin and that the strategic BTC reserve is inevitable for China". #N4G
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what happened yesterday was a healthy step for the market, it's an opportunity for the market to transition toward more stable conditions. With that leverage wiped out, the market has reset, with Altcoins flipping key levels into support. #N4G
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📉 Altcoins, particularly those that have surged significantly during this 2-month bull rally, have plummeted today. If retail traders react with fear and begin selling off their bags, expect a swift rebound to assets like TRX, AVAX, DOT, ICP, POL, FIL, and TIA #N4G
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Why do i keep saying that the market will not stay like this for long? Simply, Because the market makers will not risk loosing the hype they created a month ago for just 1.6B in liquidations, they will use that money to drive the market even higher than it was earlier on November. It's just a matter of time and not a long period, it will be this week. #N4G
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Reasons behind this market drop: - The Financial Services Oversight Council (FSOC) has some big concerns about stablecoins. These digital assets, designed to hold steady value, are under the microscope. The FSOC thinks they could mess with financial stability. And here’s why. - Binance, WazirX, and Other Crypto Firms Accused of Tax Evasion in India, India’s Goods and Services Tax (GST) authorities have reported a $99.1 million tax evasion case involving 17 cryptocurrency exchanges operating in the country. - Tether recently shut down operations of its Euro Tether (EURT) after facing heavy challenges from regulators in Europe. - Increased leverage and declining spot trading volumes. - China's economy isn't doing so well, A prolonged housing slump, weak domestic spending, and worsening trade tensions with the U.S. are dragging everything else down, add to that: Trump’s return, U.S.-China trade tensions rise - Bitcoin miners sold BTC worth $8.55 billion in just two days, marking the largest sale in the past ten months - Profit taking. It's not going to last forever, the market will recover very soon. #N4G
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