The post Prominent Founder Makes Unusual Bitcoin Prediction Ahead of Fed Decision – “A Drop to This Level Is Possible” appeared on BitcoinEthereumNews.com. According to some analysts, Bitcoin (BTC) is at risk of another sharp decline ahead of the critical Fed meeting this week. XYO co-founder Markus Levin said it is “not out of the question” that the Bitcoin price could fall to $50,000 amid deepening market fear. The Fed will announce whether it will cut interest rates on December 10th. While interest rate cuts typically provide liquidity to markets, supporting risk assets like cryptocurrencies, Levin believes the current market structure is insufficient to absorb this support. While Bitcoin is trading around $89,700 today, technical and sentiment indicators point to a deeper correction. Levin stated, “The fear and greed index has shifted to extreme fear. This increases the likelihood of a deeper correction.” The expert noted that the first critical demand zone for Bitcoin is $82,000, followed by $78,000. However, he added that if buyers remain weak at these levels, a drop below $70,000 is possible. According to Levin, even a “short-term drop below $50,000” is possible due to the low liquidity environment. In the options market, the picture is slightly different. Data shows that the largest short position in options expiring on December 26th is at $85,000, suggesting investors aren’t expecting significant short-term declines. TYMIO founder Georgii Verbitskii, however, stated that Bitcoin’s technical outlook remains fragile, saying, “Structurally, the uptrend has been broken. It’s premature to rule out deeper pullbacks until Bitcoin establishes a strong hold above $100,000.” According to Verbitskii, a retest of $70,000 is possible as long as it remains below $100,000, but a sustained break above that level will significantly reduce downside risks. Experts also argue that rising global inflation and funds flowing out of Bitcoin ETFs continue to put pressure on the price. Bloomberg Intelligence strategist Mike McGlone also noted that volatility could increase in the final weeks… The post Prominent Founder Makes Unusual Bitcoin Prediction Ahead of Fed Decision – “A Drop to This Level Is Possible” appeared on BitcoinEthereumNews.com. According to some analysts, Bitcoin (BTC) is at risk of another sharp decline ahead of the critical Fed meeting this week. XYO co-founder Markus Levin said it is “not out of the question” that the Bitcoin price could fall to $50,000 amid deepening market fear. The Fed will announce whether it will cut interest rates on December 10th. While interest rate cuts typically provide liquidity to markets, supporting risk assets like cryptocurrencies, Levin believes the current market structure is insufficient to absorb this support. While Bitcoin is trading around $89,700 today, technical and sentiment indicators point to a deeper correction. Levin stated, “The fear and greed index has shifted to extreme fear. This increases the likelihood of a deeper correction.” The expert noted that the first critical demand zone for Bitcoin is $82,000, followed by $78,000. However, he added that if buyers remain weak at these levels, a drop below $70,000 is possible. According to Levin, even a “short-term drop below $50,000” is possible due to the low liquidity environment. In the options market, the picture is slightly different. Data shows that the largest short position in options expiring on December 26th is at $85,000, suggesting investors aren’t expecting significant short-term declines. TYMIO founder Georgii Verbitskii, however, stated that Bitcoin’s technical outlook remains fragile, saying, “Structurally, the uptrend has been broken. It’s premature to rule out deeper pullbacks until Bitcoin establishes a strong hold above $100,000.” According to Verbitskii, a retest of $70,000 is possible as long as it remains below $100,000, but a sustained break above that level will significantly reduce downside risks. Experts also argue that rising global inflation and funds flowing out of Bitcoin ETFs continue to put pressure on the price. Bloomberg Intelligence strategist Mike McGlone also noted that volatility could increase in the final weeks…

                                                                               Office of the Comptroller of the Currency’s Jonathan Gould says crypto companies should have a path to supervision in the banking system, which can evolve to embrace blockchain.                     Crypto companies seeking a US federal bank charter should be treated no differently than other financial institutions, says Jonathan Gould, the head of the Office of the Comptroller of the Currency (OCC).Gould told a blockchain conference on Monday that some new charter applicants in the digital or fintech spaces could be seen as offering novel activities for a national trust bank, but noted “custody and safekeeping services have been happening electronically for decades.”“There is simply no justification for considering digital assets differently,” he added. “Additionally, it is important that we do not confine banks, including current national trust banks, to the technologies or businesses of the past.”Read more