Japanese financial giants SBI Securities and Rakuten Securities are set to launch Bitcoin- and Ethereum-based trust funds, a move that could significantly expand digital asset access for retail investors in Japan. Meanwhile, the CME Group is introducing new Nasdaq CME Crypto Index futures contracts in June, signaling growing institutional interest in cryptocurrency markets.
However, this promising news was overshadowed by a sharp sell-off in the cryptocurrency market on Monday, driven by renewed risk aversion following geopolitical tensions sparked by Donald Trump’s comments on Iran. Bitcoin’s price fell to a crucial support level around $76,756, where the convergence of moving averages may determine the medium-term market sentiment. The RSI indicator’s drop to 44.6 suggests waning buyer momentum, leaving the door open for further bearish pressure.
Market professionals should closely monitor Bitcoin’s ability to hold this support level, as a break could lead to a deeper sell-off, while a rebound may signal renewed bullish sentiment.
Source: xtb.com