Crypto Market Update: Ripple, Strategy, and Shiba Inu
SEC May Pause Ripple Appeal
The SEC is expected to pause or potentially withdraw its appeal in the Ripple case, according to John Reed Stark, a former SEC official. This prediction comes amid the agency's shifting approach to crypto regulation, including recent pauses in cases involving Coinbase and Binance. The changes coincide with SEC Commissioner Mark Uyeda's appointment as acting chairman.
Strategy Halts Bitcoin Purchases
Strategy, led by Michael Saylor, has stopped buying Bitcoin, despite holding 478,740 BTC acquired at an average price of $65,033. The company last purchased 7,633 BTC on February 10. However, Strategy's shares have remained flat in premarket trading, dropping over 13% in the past month. Bitcoin currently trades at $96,063, showing a 0.3% increase over 24 hours.
Shiba Inu Nears Death Cross
Shiba Inu (SHIB) faces market pressure as its price approaches a "death cross," a bearish signal. SHIB has fallen 4.4% this week, with potential further declines. The token may either drop to the $0.000011 support level or fluctuate between $0.000011 and $0.000017 until a decisive trend emerges.
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