China News Daily TheBitTimes.com

Reason to trust Strict editorial policy that focuses on accuracy, relevance, and impartiality Created by industry experts and meticulously reviewed The highest standards in reporting and publishing How Our News is Made Strict editorial policy that focuses on accuracy, relevance, and impartiality Ad discliamer ...

Discover how margin and option metrics hint at Bitcoin's path to $28,000 amid the Binance legal battle. The ongoing legal battle between the Binance cryptocurrency exchange and the U.S. Securities and Exchange Commission (SEC) took a surprising turn on Sep. 18. Magistrate Judge Zia M. Faruqui rejected the SEC's request for access to Binance.US's systems. Instead, the Federal Magistrate suggested that the SEC should formulate specific discovery requests. While this decision only temporarily postponed the need for Binance to demonstrate the separation between Binance.US's custody solution and Binance International, the market responded positively. Bitcoin (BTC) surged to its highest level in three weeks, breaking above the $27,000 resistance. Traders are now wondering whether the rally has been supported by leverage or genuine spot buying demand. This is where metrics related to Bitcoin derivatives could potentially provide the solution. Investors must wait three weeks ...