Binance CZ Urges Govt to Take a More Relaxed Approach to Crypto, Here’s Why!

Monicah W

The post Binance CZ Urges Govt to Take a More Relaxed Approach to Crypto, Here’s Why! appeared first on Coinpedia Fintech News

After running the biggest crypto exchange in the world, Binance’s Changpeng Zhao (CZ), who has recently been free from the guilty charges of money laundering after paying a $50 million fine. CZ has stepped into a new role of advising the government and asking “govt to take a more relaxed approach towards crypto.” 

Let’s find out why! 

CZ’s Message to Governments

Changpeng Zhao (CZ) has been working closely with government officials across Asia to shape the future of blockchain and digital assets.

During his recent visit to Kuala Lumpur, Malaysia, CZ spoke at the Ritz-Carlton, where he shared how countries like those in the Middle East have been successful in their crypto policies. 

“I always encourage governments to take a more relaxed approach.” He explained that when governments don’t over-regulate, businesses and technology can grow freely and thrive.

Middle Eastern Countries Leading the Way

CZ pointed out that Dubai is a great example of how a crypto-friendly approach can benefit a country. He shared that it only took him 24 hours to get a golden visa in Dubai. He further mentioned that Binance received a full operating license in Dubai in 2024. 

This shows that when a country supports crypto, it can help businesses grow and create opportunities.

U.S Softening Stance Towards Crypto 

CZ pointed out that the global attitude towards crypto is changing. He mentioned that since Donald Trump became president, the U.S. government has become more supportive of crypto.

These changes are encouraging other countries to take a similar approach, making it easier for crypto businesses to grow and succeed around the world.

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Bitcoin Price Tumbles Below $79K Ahead Of Incoming Bloody Monday Open

Bitcoin Price Tumbles Below $79K Ahead Of Incoming Bloody Monday Open

Bitcoin price took a major hit to fall as low as $78,000 for the first time since the middle of March. There is speculation that the worst is yet to come for Bitcoin with Monday open tipped to herald fresh bearish sentiments.

Bitcoin Price Falls Below $79K Ahead Of Monday Open

According to CoinMarketCap data, the cryptocurrency market is bleeding and Bitcoin is carrying its fair share after losing nearly 6% over the last day. The steep decline saw Bitcoin dip under $80K and slide to reach a daily bottom of $78,574 for the first time since mid-March.

Despite the steep drop, Bitcoin’s daily trading volume is surging at $26.61 billion, an 85% spike in the last 24 hours. The sudden decline comes barely a day after reports of Bitcoin decoupling from the S&P 500 to become a safe haven asset.

There are several reasons for Bitcoin’s recent decline with global trade tensions considered a key culprit for the slump. US tariffs and China’s retaliation have forced investors to play safe till the storm blows over, increasing Bitcoin’s selling pressure. Furthermore, cryptocurrency liquidations of nearly $600 million adversely affect Bitcoin price.

Fox Senior Correspondent Charles Gasparino shared a scoop from a market analyst that as markets open on Monday, it may herald selling pressure. Investors are bracing for impact after recent market performance has been largely underwhelming and the specter of US blanket tariffs looms in the distance.

“Monday is shaping up to be the ultimate pain day,” said Gasparino on X, hinting at a broader selloff for Bitcoin.

Is The Bull Market Over?

There is growing chatter in cryptocurrency circles that Bitcoin is in a bear market given its current price performance. CryptoQuant CEO Ki Young Ju argues that the Bitcoin bull market is over, citing a string of on-chain data.

In his analysis, rising Bitcoin Realized Cap and stagnant market capitalization confirm that the bears are firmly in charge. Ju predicts that the bearish sentiment around Bitcoin can last for six months, dousing optimism for a short-term recovery.

Bitcoin’s recent price movement sees it cap off a torrid Q1, the worst in a decade after it fell by nearly 7%. The top cryptocurrency is dragging altcoins underwater with Ethereum losing a staggering 11.24% to trade at $1,590 as ETH price remains stuck under $2,000.

Other altcoins are undergoing a torrid patch with SOL and DOGE losing over 10% over the last day. ADA has shed 10.40% while XRP and BNB have lost 7.77% and 6.36% respectively. The global cryptocurrency market capitalization sits at $2.62 trillion as investors scan the horizon for a short-term price spurt ahead of Monday’s market opening.

The post Bitcoin Price Tumbles Below $79K Ahead Of Incoming Bloody Monday Open appeared first on CoinGape.

Hedera (HBAR) Traders Bet on Further Price Gains as Long Positions Surge

The resurgence in broader market activity over the past 24 hours has triggered an uptick in bullish bias towards Hedera (HBAR), with traders increasingly betting on further price gains. 

HBAR’s long/short ratio has climbed to its highest level in the past month, signaling a shift in trader positioning.

Bullish Bets Push HBAR Toward Breakout Territory

HBAR’s long/short ratio currently stands at 1.09, its highest level in the past 30 days. This indicates a sharp rise in the demand for long positions among HBAR’s derivatives traders on Wednesday. 

HBAR Long/Short Ratio.
HBAR Long/Short Ratio. Source: Coinglass

An asset’s long/short ratio measures the proportion of its long positions (bets on price increases) to short positions (bets on price declines) in the market. A ratio below one means there are more short positions than long ones.

Conversely, as in HBAR’s case, a long/short ratio reading above one indicates that traders are predominantly bullish on the altcoin, and are opening bets in favor of an extended price rally. 

Moreover, HBAR’s rising futures open interest confirms the renewed demand for the altcoin. At press time, this is at $205 million, climbing 18% over the past day. HBAR’s value is up almost 10% within the same period. 

HBAR Futures Open Interest.
HBAR Futures Open Interest. Source: Coinglass

Open interest refers to the total number of outstanding futures contracts that have not been settled. When open interest rises alongside price like this, it indicates that new money is entering the market to support the uptrend. This trend signals strong conviction behind the HBAR’s upward movement.

Can HBAR Break Out? Traders Watch $0.199 as Next Key Level

As of this writing, HBAR trades at $0.187, resting above the resistance formed at $0.190. If demand strengthens and HBAR bulls flip this price level into a support floor, the token could extend its uptrend and climb to $0.199.

HBAR Price Analysis.
HBAR Price Analysis. Source: TradingView

On the other hand, if HBAR bears regain market control, this bullish projection will be invalidated. In this scenario, the token could lose its recent gains and fall to $0.153.

The post Hedera (HBAR) Traders Bet on Further Price Gains as Long Positions Surge appeared first on BeInCrypto.