The U.S. Commodity Futures Trading Commission (CFTC) has appointed Chainlink 
co-founder Sergey Nazarov to its Innovation Advisory Committee, a panel 
launched and sponsored by Chairman Michael S. Selig to guide financial 
technology policy. The committee brings together senior leaders from 
traditional finance, market infrastructure firms, and the digital asset sector 
to advise the CFTC on […]

CFTC Taps Chainlink’s Sergey Nazarov for Key Innovation Panel

Bitcoin is still playing out a series of price actions that look like they may 
be entering a deeper correction phase. A technical analysis shared on social 
media platform X by crypto analyst Chiefy suggests that Bitcoin is repeating 
the macro structures seen after the 2017 and 2021 cycle tops. If the pattern 
continues to unfold with similar symmetry, the projection is that Bitcoin 
could fall to as low as $35,000 within days. Bitcoin Imitating 2017 And 2021 
Cycle Structures Chiefy’s chart compares three major peaks: the $21,000 high 
in 2017, the $69,000 peak in 2021, and the recent all-time high just above 
$126,000. The important trend is that in both of the first two cases, Bitcoin 
experienced severe retracements exceeding 70% before eventually finding long- 
term bottoms. Related Reading: Why The Bitcoin Price Crash Toward $60,000 Was 
“Necessary” The first retracement kicked off just after Bitcoin broke above 
$21,000 in 2017, when it fell 84% during the 2018 bear market. After the 
$69,000 peak in 2021, the decline reached about 77%. Chiefy described the 
fractal alignment as nearly perfect, raising the possibility that the market 
could be approaching another capitulation phase similar to past cycles. The 
current correction from $126,000 is beginning to resemble those earlier 
downturns in structure. If Bitcoin were to repeat a similar percentage drop, 
price projections would place the cryptocurrency in the $30,000 to $35,000 
range. The analyst goes even further, warning that such a move could unfold 
within the next 10 days if the pattern were to play out as it did before. Weak 
ETF Demand And Whale Inflows Adding To Bearish Pressure Various on-chain data 
are pointing to a cautious outlook among crypto investors. According to 
Glassnode, the 30-day simple moving average of net flows for both Bitcoin and 
Ethereum spot ETFs has been negative for most of the last 90 days. This shows 
that there is currently no clear sign of demand strong enough to absorb the 
persistent selling pressure. Related Reading: Important Bitcoin Macro Cycle 
Durations You Should Know About Interestingly, CryptoQuant&#8217;s Whales Inflow 
Signal metric shows that the average monthly inflows of BTC to Binance from 
whales increased massively as Bitcoin fell from $95,000 to $60,000. These 
inflows rose from around 1,000 BTC in late January to nearly 3,000 BTC in 
February, with a notable spike of roughly 12,000 BTC on February 6 alone. 
Since February 1, seven trading days have recorded more than 5,000 BTC in 
daily inflows from this group of large investors. This type of movement shows 
an intensification of transfers to exchanges from large Bitcoin holders into 
Binance, a trend that undoubtedly contributed to the price crash. This is 
because rising exchange inflows are a reflection of increasing selling 
pressure. At the time of writing, Bitcoin is trading at $66,015, down by 1.7% 
in the past 24 hours. Featured Image from Pixabay, chart from Tradingview.com

Historical Pattern From 2017 Signals Bitcoin Price Crash To $35,000

Bitcoin rallies above $69,000 as retail traders apply pressure to short 
positions and aim to generate a lasting bullish trend change.

Bitcoin bulls blitz $69K as retail traders pressure short positioning

Meta plans facial recognition for smart glasses to identify contacts across 
its platforms, raising fresh privacy and regulatory concerns.
The post Meta weighs facial recognition rollout for smart glasses appeared 
first on Crypto Briefing.

Meta weighs facial recognition rollout for smart glasses

Tesla stock price remains in a deep correction after falling by about 17% from 
its all-time high, a drop that has erased over $130 billion in value.

Cryptocurrency price in KRW