CFTC Chair reiterates BTC and ETH are commodities in testimony
- Bitcoin and Ether as Commodities: The US commodities regulator chief argues that Bitcoin and Ether are commodities, citing a court ruling in Illinois.
- Court Ruling on Cryptocurrencies: A recent court ruling in a Ponzi case reaffirmed that Bitcoin and Ether are commodities under the Commodity Exchange Act.
- Regulation Gap Highlighted: A 2022 report highlighted a regulatory gap for digital assets not classified as securities, calling for increased oversight by the Commodity Futures Trading Commission (CFTC).
- Legislative Priorities Proposed: The CFTC Chair outlined five legislative priorities to regulate digital commodities better, including tailored rules, funding models, disclosure regimes, and KYC/AML measures.
- Call for Regulatory Framework: Urgent need for federal legislation to create a regulatory framework to protect investors and financial markets from future risks associated with digital assets.
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Technical Analysis for
Technical Sentiment Analysis for () As of , () is exhibiting a Neutral technical sentiment. Our proprietary analysis, which aggregates 0 technical signals, shows that 0 indicators are flashing buy, while 0 are indicating sell.
Momentum Indicators: RSI, MACD & Overbought/Oversold Status Currently, the Relative Strength Index (RSI) for 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, 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 $-.
() Support & Resistance Level
| Name | S3 | S2 | S1 | Pivot Points | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Classic | - | - | - | - | - | - | - |
| Fibonacci | - | - | - | - | - | - | - |
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