According to the International Monetary Fund (IMF), there is still much work to be done on crypto legislation. On last week’s Foreign Policy Live podcast, the top two leaders of the International Monetary Fund (IMF) discussed crypto regulation. Kristalina Georgieva, the IMF’s Managing Director, and Gita Gopinath, the IMF’s Deputy Managing Director, were asked how nations respond to the expanding number of risks confronting the global economy, including cryptocurrency.
Leading cryptocurrencies mainly remained flat, reflecting market caution, with Bitcoin unable to break out of a range due to technical obstacles.
The most valuable coin by market capitalization slid 1.01 percent to US$47,059, failing to break through to the next significant resistance level of US$50,000, as it trades around a three-month high.
The price of Ethereum declined 0.36 percent to US$3,396.
As Russia intensified its operations in Ukraine days after promising to stop military action, global equity markets took stock. The tech-heavy Hang Seng in Hong Kong fell 211 points (0.95 percent) to 207.44, while the Nasdaq dropped 1.21 percent to 14,442.
The S&P 500 index dropped 0.63 percent, or 29 points, to 4,602, while the Shanghai Stock Exchange dropped 0.43 percent, or 13 points, to 3,252.
Bitcoin’s upward momentum is waning, and the daily time frame’s 50-day simple moving average has turned into significant resistance, says Naeem Aslam, a market analyst at AvaTrade.
Bitcoin price moving higher if the bull movement continues. However, there were several big climbs among the altcoins.
Solana rose 8.9% to US$121.65, its most significant level since late January, while Avalanche rose 6.74 percent to US$98.81, its highest level since the beginning of the year.
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