Former BitForex CEO Garrett Jin Refutes Insider Trading Allegations Tied to Trump’s Selloff
Jin's Denial of Insider Trading: Garrett Jin, former CEO of BitForex, refuted allegations of profiting from insider knowledge regarding a significant Bitcoin short position linked to U.S. tariffs, asserting he has no ties to the Trump family and that the wallet in question belonged to a client.
Market Reactions and Speculation: The short position, valued at $735 million, coincided with a sharp decline in Bitcoin's price, raising concerns about insider trading in crypto markets, which are sensitive to political news and often lack transparency.
Ongoing Insider Activity Concerns: Jin's case highlights a pattern of suspected insider trading in the crypto space, with previous incidents raising alarms about market manipulation and the need for better regulatory oversight.
Future Implications: No formal investigation has been initiated into the alleged trades, but the incident underscores the volatility in crypto markets driven by political events and the influence of social media speculation on investor sentiment.
Get Real-Time Alerts for Any Crypto Movement
Technical Analysis for BTC
Technical Sentiment Analysis for Bitcoin (BTC) As of , Bitcoin (BTC) is exhibiting a Sell technical sentiment. Our proprietary analysis, which aggregates 4 technical signals, shows that 1 indicators are flashing buy, while 3 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 | 36462.09 | 48231.045 | 61197.84 | 72966.795 | 85933.59 | 97702.545 | 110669.34 |
| Fibonacci | 48231.045 | 57680.101 | 63517.738 | 72966.795 | 82415.852 | 88253.488 | 97702.545 |
About BTC
About the author
