BTC/USD oscillates around $38,00 in mid-Wednesday trade, after falling for a few weeks. The pair was in the process of testing $41,000 support at the time of writing. Despite the “out of hours” trading environment, the trend was clearly down for the largest cryptocurrency, as the mood on global equities wobbled among analysts. The price has been rejected impulsively from both the 100-day moving average and the $45K resistance level.

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BTC also broke below the 50-day moving average, spreading fear all over the market once again. However, there is still the chance to reclaim back above the significant moving average line over the past few days. In that case, It might make another attempt towards the $45K resistance.

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On the other hand, if BTC fails to recover in the next couple of days, the next support level would be the $36K area that the bulls defended the last time it was tested last Thursday, on the day of Russia’s invasion.

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Bitcoin fear and greed index on Wednesday, March 9, 2022, went from the extreme fear level of 21 to the level of 22 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 $41,691.07, up 8.83%. In the last 24 hours, the highest it touched was $41,701.78 and the lowest was $38,235.74. Bitcoin has a current market cap of $791,088,324,614. It has a circulating supply of 18,978,268.00 BTC coins and a maximum supply of 21,000,000 coins.

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Janet Yellen revealed information of Vice President Joe Biden’s executive order on cryptocurrency

A statement from U.S. Treasury Secretary Janet Yellen on President Joe Biden’s executive order regarding digital assets calls for efforts to support innovation while addressing risk in the industry. Yellen’s statement was released a day early apparently by error and quickly deleted, but was captured on a web archive. It shares early insights into the details of President Biden’s soon to be released executive order. The order will call for “a coordinated and comprehensive approach to digital asset policy.” Yellen’s statement said that the executive order could “result in substantial benefits for the nation, consumers, and businesses.” Yellen also outlined the next step the Treasury Department will take in learning to understand digital assets and how to regulate them within the parameters of the executive order.

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CoinZoom pausing new accounts within Russia

Utah-based cryptocurrency exchange CoinZoom is pausing applications for new accounts within Russia following the country’s escalating conflict in Ukraine, the company’s chief executive officer told Reuters. While CoinZoom is a lesser-known crypto exchange, it is one of the first to halt new business operations in Russia, with most exchanges thus far resisting calls to block Russian users despite pleas from the Ukrainian government. Coinbase, Kraken and Binance have said that while they will comply with Western sanctions, they would not block Russian users without a legal requirement to do so. CoinZoom Chief Executive Todd Crosland said the company decided to suspend new accounts because it was unclear how customers would fund them given that major payment firms are pulling out of Russia.