Bitcoin (BTC) Resilience Pauses But Not Out of Woods Yet

Bitcoin price is consolidating gains above the $7,400 and $7,295 support levels against the US Dollar. The price is likely to accelerate higher once it clears the $7,600 and $7,700 resistance levels. There is a key declining channel forming with resistance near $7,610 on the hourly chart of the BTC/USD pair (data feed from Kraken). The pair remains well supported on dips near the $7,400 and $7,300 levels in the near term. Bitcoin price is likely forming a bullish pattern above $7,400 against the US Dollar. BTC could soon rally…

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US Fed Weighs Up Potential CBDC as Countermove Against China

Where just a handful of years ago, the idea would have been immediately dismissed or even met with ridicule, the United States Federal Reserve is now taking the concept of an official dollar stablecoin seriously. Markets have heard more frequent guidance from the Fed on cryptocurrencies in recent years, and thanks to two curious U.S. representatives — French Hill and Bill Foster — this guidance now includes an enlightening response from Fed Chairman Jay Powell to their letter on a central bank digital currency, or CBDC. Evolving trends force regulators’…

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