Binance News: Bitcoin Soars Above $83K, Eyes $91,300 Resistance with Strong Bullish Momentum

Bitcoin Holds Above $83K With Bullish Momentum Building Toward $91,300

Bitcoin is firmly placed above the $83K level, reflecting unstinting bullish pressure as it makes consistent strides towards the pivotal $91,300 resistance level. A series of consecutive, strong bullish candles highlights relentless market demand and ongoing buyer control with minimal or no selling pressure. Momentum indicators like a construction RSI and bullish MACD crossover continue to indicate accelerating upside potential based on rising buying momentum and mounting confidence in the market. Bitcoin currently trades at $87,999 on Binance, demonstrating steady bullish momentum. Price action confirms recovery from March lows near $78,000. A breakout above the $83,000 resistance further supports continued upside movement.

CFTC Withdraws Crypto Derivatives Advisories, Simplifying Futures Listings

The Commodity Futures Trading Commission (CFTC) has withdrawn two previous advisories issued in 2018 and 2023 related to digital asset trading and clearing. This decision is expected to create a standardized regulatory framework for digital assets and other products, simplifying crypto futures listings for firms. The agency believes the market now has better hands-on experience with virtual currency derivatives. Separately, the FDIC allows banks to engage in crypto activities with risk management in place.