Bybit Explores UK Crypto Regulations with Restricted Market Re-Entry
Bybit's Market Re-Entry: Bybit has resumed limited operations for UK users under new FCA regulations, utilizing an FCA-approved promotions arrangement instead of direct authorization.
Product Offerings: The exchange now offers a scaled-back platform with around 100 trading pairs for spot trading, excluding higher-risk products like derivatives and leveraged trading.
Market Context: The re-entry comes amid declining crypto ownership in the UK, with retail investors showing reduced interest in speculative assets, raising questions about the motivations behind Bybit's return.
Regulatory Uncertainties: Key questions remain regarding user contracts, liability in case of security breaches, and the specific products excluded due to regulatory expectations, indicating a cautious future for the UK crypto market.
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Technical Analysis for BTC
Technical Sentiment Analysis for Bitcoin (BTC) As of , Bitcoin (BTC) is exhibiting a Strong sell technical sentiment. Our proprietary analysis, which aggregates 4 technical signals, shows that 0 indicators are flashing buy, while 4 are indicating sell.
Momentum Indicators: RSI, MACD & Overbought/Oversold Status Currently, the Relative Strength Index (RSI) for BTC stands at -, which suggests a Neutral condition. Meanwhile, the MACD (12, 26) indicator is at -, providing a Neutral signal for short-term momentum. Other oscillators like the Stochastic Oscillator at - and the Commodity Channel Index (CCI) at - further confirm a - outlook for the stock.
Support, Resistance & Moving Averages From a structural perspective, BTC is trading below its 60-day moving average of $- and below its 200-day long-term moving average of $-. Key price levels to watch include the immediate resistance at $- and strong support at $-. A break above $- could signal a bull continuation, while falling below $- may test the next Fibonacci floor at $-.
Bitcoin (BTC) Support & Resistance Level
| Name | S3 | S2 | S1 | Pivot Points | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Classic | 41893.215 | 50946.608 | 61317.215 | 70370.608 | 80741.215 | 89794.608 | 100165.215 |
| Fibonacci | 50946.608 | 58366.576 | 62950.64 | 70370.608 | 77790.576 | 82374.64 | 89794.608 |
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