The crypto market’s continuing sell-off has wiped off more than $1 trillion in value. The BTC price has also fallen below the $40000 support level, predicting more declines in the next session. BTC is presently trading at $37,344.04, representing a 3.17% intraday gain. The coin price is now bouncing around the 0.5 Fibonacci level and the psychological support level of $35,000. 

If the price breaks through this support level, the next critical support level for Bitcoin will be the $30000 accumulation support in May-June 2021. In the event of a bullish reversal, the coin price must first cross the falling trendline before it can begin a full rise. 

Resistance levels to watch out for are $40000 and $45,000 while Support levels are $35,000 and $30,000.

Bitcoin fear and greed index on Friday, January 28, 2022, went from the extreme fear level of 20 to the level of 24 as per the alternative. me. The Fear and Greed index is a technique for assessing investors’ emotions toward the market.

Bitcoin is currently trading around $37,344.04, down 3.17%. In the last 24 hours, the highest it touched was $37,390.74 and the lowest was $35,629.28. Bitcoin has a current market cap of $705,440,539,948. It has a circulating supply of 18,941,925.00 BTC coins and a maximum supply of 21,000,000 coins.

SEC has rejected Fidelity’s application for a Bitcoin ETF

The SEC has rejected another application for a spot market Bitcoin ETF—this time from asset manager Fidelity.  The U.S. regulator said in a Thursday note that the application for Fidelity’s Cboe BZX Exchange did not give sufficient evidence on how it would prevent fraud. The SEC has given the exact same reason for previous rejections. “The Commission concludes that BZX has not met its burden under the Exchange Act and the Commission’s Rules of Practice to demonstrate that its proposal is consistent with the requirements of Exchange Act Section 6(b)(5), and in particular, the requirement that the rules of a national securities exchange be ‘designed to prevent fraudulent and manipulative acts and practices and ‘to protect investors and the public interest,” the SEC said. 

SEC has approved BSTX’s blockchain-powered securities exchange

BSTX, a joint venture between tZero and Boston Options Exchange (BOX) Digital Markets, has received the green light from the U.S. Securities and Exchange Commission (SEC) to operate a blockchain-based securities exchange. BSTX is aiming for immediate or accelerated settlement (T+0 or T+1) thanks to the transactions taking place on the blockchain. It will also provide market data recorded on the blockchain in a process similar to an Oracle. This will be done via a blockchain run by BSTX. The exchange will be open to both retail and institutional investors.