First Mover Americas: Bitcoin Hits $27K for First Time in Two Weeks
The latest price moves in crypto markets in context for Sept. 19, 2023....
- Bitcoin rose to its highest level since August 31, reaching $27,220, following the appearance of a death cross pattern on its price chart a week ago.
- The advance in Bitcoin's price after the bearish crossover of the 50-day SMA below the 200-day moving average suggests that the death cross pattern may not be a reliable indicator.
- Bitcoin has slightly retreated and is currently trading around $27,100.
- Solana's SOL gained 3% on Tuesday, while ether was up slightly at $1,643.
- Crypto exchange FTX has filed a lawsuit against its founder's parents, seeking to recover fraudulently transferred and misappropriated funds.
- FTX alleges that the founder's parents received millions of dollars in payments and property from the exchange.
- Oak Grove Ventures, a new $60 million fund, has been launched by alumni from prominent names in the crypto and fintech industries. The fund focuses on Web3, artificial intelligence, and biotech.
The sentiment in the article is mixed. Bitcoin's rise to its highest level in weeks is seen as positive, while the lawsuit against FTX and allegations of fraud have negative implications. The launch of Oak Grove Ventures is viewed as a positive development in the crypto and fintech space.