Crypto news daily: Bitcoin data and price analysis for Monday, March 28, 2022

Bitcoin momentarily surpassed its annual breakeven barrier of $47,201, rising as high as $47,245 before settling down in the $46,900 region by early afternoon.

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According to market statistics, the largest cryptocurrency by market capitalization is up 5% in the previous 24 hours. Bitcoin has risen by more than 12% since last Sunday, following a six-day streak of gains.

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After a rejection at little above $45,000, the BTC/USD pair is resuming its ascent to higher levels witnessed in recent days. While still trading inside its prolonged trading range, with a ceiling of $46,000, the pair remained firmly on the radar of long-term traders as the weekly close approached, with this likely to be Bitcoin’s highest of the year so far.

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Bitcoin fear and greed index on Monday, March 28, 2022, went from the neutral level of 49 to the greed level of 60 as per the alternative. me. The Fear and Greed index is a technique for assessing investors’ emotions toward the market.

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Bitcoin is currently trading around $46,959.02, up 5.09%. In the last 24 hours, the highest it touched was $47,245.80 and the lowest was $44,437.29. Bitcoin has a current market cap of $892,030,277,695. It has a circulating supply of 18,995,887.00 BTC coins and a maximum supply of 21,000,000 coins.

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ED arrests individual from Kerala in Rs 1200 crore crypto fraud case

The Enforcement Directorate has arrested one of the prime accused in the Rs 1,200-crore fake cryptocurrency racket busted by the agency in January this year. According to ED sources, Abdul Gafoor, a native of Malappuram, has been remanded in judicial custody by a PMLA (Prevention of Money Laundering Act ) court in Kozhikode. The central agency would move the court seeking his custody for interrogation on Monday, the sources added. According to ED sources, Gafoor is the director of an inactive firm (shell company), Stox Global Brokers Private Limited, based in Malappuram. They said he had been actively involved in allegedly siphoning money from people who were lured with fake crypto investment offers, and then placing it in shell companies. The ED had earlier identified K Nishad, who has sneaked out of the country after the racket was busted, as the kingpin of the racket that allegedly cheated around 900 investors. Subsequently, the ED attached his properties in Malappuram.

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In coming weeks, UK is expected to reveal its plans for crypto regulation: reports

The U.K. government is set to reveal its plans for regulating the crypto industry in the coming weeks, according to CNBC. Although details are still being finalized, the regulatory regime will focus heavily on stablecoins which are cryptocurrencies fixed to the value of other assets, CNBC reported Sunday citing unnamed sources. The U.K. Treasury Department has discussed the upcoming regulatory package with multiple crypto firms including Gemini, the issuer of stablecoin Gemini dollar (GUSD), which is pegged to the U.S. dollar, according to the report. The European Union’s landmark regulatory framework for crypto assets, currently moving through the bloc’s complex legislative process, also has a heavy emphasis on oversight into stablecoins.