CFTC accused Bitmex, Trump was diagnosed with the new crown, and the Bitcoin triangle area celebrated the National Day

On October 1, the cryptocurrency exchange BitMEX was sued by the US Commodity Futures Trading Commission (CFTC). The CFTC has accused Bitmex holders of illegally operating a cryptocurrency derivatives trading platform and violating anti-money laundering regulations.

Since the US CFTC took action against BitMEX, more than 45,000 BTC have flowed out of the exchange in less than 48 hours. At the same time, Bebt and Binance seem to be the biggest "beneficiaries" of the event, followed by OKEx and Huobi, and more than 20,000 BTC have been transferred from BitMex to these four exchanges. It can be said that the CFTC's sanctions on BitMEX have brought a huge impact on the cryptocurrency industry.

Still, I believe this will have a good impact on the blockchain cryptocurrency industry in the long run. The CFTC crackdown on BitMEX is the best news to happen in the crypto space in months, as it will help tame the wild age of cryptocurrencies. A government agency crackdown on BitMEX could increase the chances of a bitcoin exchange-traded fund (ETF) being approved. The move will have no impact on Bitcoin, but should be a wake-up call for DeFi.

BTC market analysis

The biggest variable factor this year is the old American election. Biden came up for the campaign, but Trump suffered from pneumonia. After the positive news of the new crown broke out, the U.S. stock market seemed to have taken laxatives, and the non-agricultural data was added to fall short of expectations for 3 months. From this point of view, it is still very difficult to expect economic recovery, which is a long-term thing.

Although Trump is sick, it is difficult to shake the national strength of the old United States, which has been deeply rooted in capitalism for hundreds of years. Therefore, although there will be some fluctuations in the short term, he is still stronger in the medium and long term. After all, others do not rely on the president alone. Driven. So don't be too bearish.

Since Bitcoin broke the key support of 10680, it has always maintained in the area of ​​10350-10680. From the perspective of the daily line level, it is still in the lower track of the shrinking triangle and has formed a rebound form. In terms of intraday operations, continue yesterday's strategy, operate at 10650, defend above 10680, and target 10400. The bottom is more than 10400, the defense is below 10350, and the target is 10650.