Bitcoin seems to have recovered from the dump of the recent days as $60k turned out to be a good support with the bulls trying to take BTC to $65k, which is the next big resistance, according to charts. Short-term support was found around the $62.5k level, which was already tested once yesterday on this leg up.
Another factor that suggests that Bitcoin bottom might be in is the Coinbase Premium Index, with FalconX head of research pointing out that the last time this happened, Bitcoin rallied hard from Oct’23 to March’24.
In other news, Paxos, one of the world’s largest stablecoin issuers, received full approval from Singapore’s central bank to issue stablecoins. Paxos has partnered with DBS for cash management needs and the stablecoin reserve’s custody.
Separately, technology giant Sony said it plans to restart the crypto exchange it bought last year, with a new name, S.BLOX. Last year, Sony also filed a patent that allows NFT transfers between games and consoles, alongside partnering with Astar Network for a Web3 incubation program.
