With the broader crypto market awaiting an upside break, BTC (-5.8%) broke its $60k support on the downside. BTC has reached its lowest price point in close to two months. Ethereum (ETH, -6.2%) fell sharply, but maintained its up trend from the lows of 13th April, and trading above $2.8k.
While this move could be attributed to a pending technical correction, another catalyst of the same was the world’s largest crypto exchange, Binance’s former CEO, getting his sentence announced yesterday. CZ was given a sentence to serve jail time for 4 months. Many are hailing it as a positive development given Binance can now officially be free from the US regulators, barring the fine that they had paid. BNB token would be one of the cryptos that investors will keep a lookout for in the coming days or weeks.
