Fundamental Development:-
Crypto owners banned from working on US Government crypto policies
US government officials who privately own cryptocurrencies are now banned from working on regulations and policies that could affect the value of digital assets. A new advisory notice released by the US Office of Government Ethics (OGE) on Tuesday stated that the de minims exemption — which allows for the owners of securities who hold an amount below a certain threshold to work on policy related to that security — is universally inapplicable when it comes to cryptocurrencies and stable coins The notice provided an example scenario whereby an employee who owns a mere $100 of a certain stable coin, is asked to work on stable coin regulation — the employee in question cannot participate in work concerning regulation “until and unless they divest their interests in stable coin.”The notice specified that this ruling still applies even if the cryptocurrency or stable coin in question were to ever “constitute for purposes of the federal or state securities laws.”.
Short Term Technical View: On daily time frame BTC is trading below 200&50 simple moving averages and trading between $20,300-$20,500 ranges.BTC is made low 19,700 and now consolidating within a range. Yesterday it made high near $20,460 and then it continue to decline. . Bitcoin is struggling to gain momentum above $20,600.
Alternative Scenario: If Bitcoin fails to clear the $20,600 resistance zone, it could start another decline. An immediate support on the downside is near the $19,800 level.