U.S. Marshals Service Allegedly Sells $6.3M Bitcoin, Violating Executive Order
- Bitcoin Sale Controversy: The U.S. Marshals Service allegedly sold approximately $6.3 million worth of Bitcoin forfeited from Samourai Wallet developers Keonne Rodriguez and William Lonergan Hill, violating a presidential executive order mandating such assets be added to the nation's Strategic Bitcoin Reserve.
- Legal Compliance Issues: Under an Asset Liquidation Agreement, Rodriguez and Hill agreed to transfer 57.55353033 Bitcoins to the USMS; however, existing laws do not require that seized Bitcoins be converted to cash, raising questions about legal compliance and asset management.
- Regulatory Policy Conflict: Despite Deputy Attorney General Todd Blanche's memo prohibiting prosecutions against virtual currency exchanges, the Southern District of New York continued to pursue the Samourai Wallet case, highlighting a conflict between regulatory guidance and enforcement actions that could impact future cryptocurrency policies.
- High Conviction Rate Impact: Federal court statistics indicate that over 90% of criminal defendants are convicted, with the Southern District of New York having an even higher conviction rate, which pressures defendants to plead guilty, potentially undermining the fairness of the judicial process.
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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 3 technical signals, shows that 0 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 | 36118.443 | 48059.221 | 60388.463 | 72329.241 | 84658.483 | 96599.261 | 108928.503 |
| Fibonacci | 48059.221 | 57330.369 | 63058.094 | 72329.241 | 81600.389 | 87328.114 | 96599.261 |
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