Bitcoin price analysis: Huobi Pro suspends Japanese operations, but BTC/USD sits still above $6,100 handle
- The third largest crypto exchange leaves Japanese market
- BTC/USD is rangebound above $6,000 support.
Bitcoin is staying close to $6,100, off Wednesday's low registered at $5,983. The digital currency No. 1 is mostly unchanged both on a daily basis and since the beginning of Asian trading.
Meanwhile, crypto companies are fleeing from Japan as the country's watchdog impose restrictions on the cryptocurrency operators. This keeps Bitcoin and other digital assets under pressure
The Seychelles-based cryptocurrency exchange Huobi Pro announced the decision to suspend trading services to Japan citizens from July 2. The company sent the notification to its clients on Wednesday, June 27, detailing that it would remove Japanese pages from its homepage on July 2. The exchange decided to leave Japanese market since it is not registered with Financial Services Agency (FSA)
Huobi Pro is currently the third largest exchange in the world by 24-hour trading volume.
Bitcoin technical picture
BTC/USD continues to move within a bearish channel with the upper line currently at $6,250. Once it is broken, the next local resistance created by 200-SMA (hourly chart) will come into focus. On the downside, the immediate support comes at $6,000 and followed by a stronger Sunday's low at $5,777.
BTC/USD, the daily chart
Author
Tanya Abrosimova
Independent Analyst
