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- 2024-02-12
2024-02-12
Paul Fulbrook
February 12, 2024
Howdy folks,
📈 Bitcoin's recent ascent to $48k from $42k showcases its strength, despite current resistance at $48k causing some to speculate about its momentum. This level is a significant resistance point, and a period of consolidation here is both natural and beneficial for market health, setting the stage for potential future gains 🚀📊.
In other news:
🇰🇷 South Korea is taking a firm stance against 'ineligible' crypto exchanges, with plans to expel them starting this year. The Financial Intelligence Unit (FIU) has laid out strict proposals to regulate exchanges that fail to meet new regulatory standards, signaling a tightening of the crypto market within the country 🔒📝.
🇳🇿 The Reserve Bank of New Zealand has expressed skepticism towards stablecoins, dismissing them as viable alternatives to fiat currency. The central bank's governor highlighted concerns in a parliamentary committee, even casting doubts on Bitcoin's reliability, reflecting the cautious approach of traditional financial institutions towards digital currencies 💵🔍.
📈 Bitcoin ETFs have hit a $10 billion milestone in assets under management (AUM) just one month after their approval, showcasing the growing investor confidence and interest in crypto through regulated financial products. With the due diligence phase for issuers now behind, inflows into Bitcoin are poised for further growth, marking a significant achievement for the crypto ETF market 🎉💰.
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