Crypto News Today: Senator Elizabeth Warren Targets Cryptos Again
- BTC declined by 0.32% on Sunday, ending the session at $41,608.
- US lawmaker scrutiny and SEC vs. crypto case-related chatter influenced buyer demand for BTC and altcoins.
- On Monday, US lawmaker scrutiny, BTC-spot ETF-related updates, and SEC activity need consideration.
Bitcoin Falls Short of $42,000 for the Second Session
BTC declined by 0.32% on Sunday. Reversing a 0.13% loss from Saturday, BTC ended the day at $41,608. Significantly, BTC fell short of the $42,000 handle for the second time since December 3, 2023.
BTC and Broader Market React to US Lawmaker Scrutiny
On Sunday, there were no BTC-spot ETF-related updates for investors to consider. The BTC-spot ETF markets are closed on the weekends.
However, Senator Elizabeth Warren influenced buyer demand for BTC and altcoins. On Sunday, Senator Warren resumed her anti-crypto crusade, saying,
“A new US GAO report confirms that rogue nations are using crypto to dodge sanctions and undermine our national security. It’s time for crypto to follow the same anti-money laundering rules as everyone else. I’ve got a bill to make it happen.”
Senator Warren referred to the US Digital Asset Anti-Money Laundering Act. The bill would impose banking-style anti-money laundering (AML) and countering the financing of terrorism (CFT) frameworks onto crypto platforms. In December, Senator Warren paraded US bank CEOs at the Banking Committee hearing on Capitol Hill.
Bitcoin Fear & Greed Index Stays Greedy
The Bitcoin Fear & Greed Index slipped from 56 to 55 on Monday. Despite the decline, the Index remained in the Greed zone, suggesting an improving investor sentiment environment.
However, BTC-spot ETF-related updates, SEC v crypto case-related chatter, and US lawmaker scrutiny warrant investor attention. Adverse regulatory news or SEC v crypto case-related news could impact the buyer demand for cryptos. A reversal of recent inflows into newly launched BTC-spot ETFs could also influence the appetite for cryptos.
Elsewhere, ETH declined by 0.59% on Sunday. Uncertainty about an ETH-spot ETF market continued to pressure buyer demand. Last week, the SEC delayed approving a Fidelity ETH-spot ETF application. Investors reacted to the news, leaving ETH down 0.6% in the week ending January 21.
Bitcoin Analysis
BTC remained below the 50-day EMA while holding above the 200-day EMA. The EMAs affirmed bearish near-term but bullish longer-term price signals.
A BTC breakout from the 50-day EMA would support a move to the $42,968 resistance level.
On Monday, US lawmaker scrutiny, SEC activity, and BTC-spot ETF-related updates need consideration.
However, a break below the $41,000 handle would give the bears a run at the $39,861 support level.
The 14-Daily RSI reading, 41.72, indicates a BTC fall to the $39,861 support level before entering oversold territory.
Ethereum Analysis
ETH remained above the 50-day and 200-day EMAs, affirming bullish price signals.
An ETH break above the $2,457 resistance level would give the bulls a run at the $2,650 resistance level.
Investors must continue to track ETH-spot ETF-related news. Increasing bets on the SEC approving ETH-spot ETFs would drive buyer demand for ETH.
However, a drop below the $2,400 handle would bring the 50-day EMA into play.
The 14-period Daily RSI at 51.77 suggests an ETH move to the $2,650 resistance level before entering overbought territory.
