Crypto

Bitcoin slips to $83,000; Glassnode says check real buying demand

Bitcoin has slid back to around $83,000, and support at that level should be judged by examining both the amount of holdings clustered near the price and the real buying demand that can absorb them, an analysis said. On-chain analytics firm Glassnode set out the criteria ahead of the U.S. Federal Reserve’s Oct. 27-28 meeting, stressing that price moves and rising volume alone do not prove buyer dominance.

Crypto

Cash-bought bitcoin may fall under derivatives rules under CFTC criteria

The U.S. Commodity Futures Trading Commission has outlined preliminary criteria indicating that buying bitcoin without using a loan could still fall under derivatives-related regulation. In a consultation document, it said regulators should consider whether credit or leverage terms were offered and whether the purchased asset was actually delivered. The agency stressed that rejecting a credit offer may not exempt a trade, and that control of the asset, such as access to private keys, can be pivotal.