Crypto Markets Face Headwinds: Bitcoin Bear Persists Amidst Regulatory Stablecoin Advancements
Crypto Markets Face Headwinds: Bitcoin Bear Persists Amidst Regulatory Stablecoin Advancements
The broader cryptocurrency market is experiencing a period of mixed signals. Bitcoin remains deeply entrenched in a bear market, trading nearly 45% below its all-time high, with technical indicators confirming a worsening climate. Conversely, the regulatory landscape for digital assets is seeing positive movement, as the CFTC has updated its criteria to recognize payment stablecoins issued by national trust banks as eligible margin collateral, aligning with a more pro-crypto regulatory stance.
Bitcoin Endures Severe Bear Market Conditions
According to a CryptoQuant researcher, Bitcoin's current market conditions place it among the worst bear markets ever recorded. The price of Bitcoin is roughly 45% below its all-time high of $126,080 (as reported by the source), indicating a deteriorating market climate over recent months. A key indicator confirming this trend was the breach of the 365-day moving average to the downside late last year, signaling sustained bearish pressure.
CFTC Advances Stablecoin Regulatory Framework
In a contrasting development for the digital asset ecosystem, the US Commodity Futures Trading Commission (CFTC) has revised a staff advisory. This update specifically recognizes payment stablecoins that are issued by national trust banks as eligible margin collateral. This regulatory adjustment is part of a wider initiative by the Commission aimed at integrating digital assets, echoing a pro-crypto agenda emanating from the US President's administration.