CoinDesk Analysis Team
CoinDesk
Bitcoin (BTC) rose above the $28,000 mark early Monday to log its highest price in over a month as analysts pointed to ETF optimism and seasonality among the reasons behind the gains. Traders at Japanese exchange Bitbank were already eyeing the $28,000 level for Bitcoin last week, as CoinDesk reported. The $28,500 acted as a major support in the previous bull market and could be a key price to watch for in the coming weeks as it potentially flips into a level of resistance. In the past 24 hours, ether (ETH) bumped over $1,700, bnb (BNB) and cardano (ADA) added 3.3%, while polygon (MATIC) rose 5.5%. Solana’s SOL tokens led major gains at 14.5%, mainly on renewed optimism for the network among some traders.
It is officially trial week for FTX founder Sam Bankman-Fried. It’s been exactly nine months and 20 days since the former crypto CEO got arrested at his then-home in the Bahamas. On Tuesday, he is set to start the trial in which he will win back his freedom, or be locked up for what a federal judge says could be a “very long” time. Thousands of pages of evidence, ranging from internal documents to audio recordings, will be presented and fought over in the next six weeks as U.S. prosecutors try to prove that the former FTX founder knowingly defrauded customers and business partners. Arguably the most damning evidence – or lack thereof – could come from the recollections and personal opinions of Bankman-Fried’s former colleagues, friends and housemates.
All writers’ opinions are their own and do not constitute financial advice in any way whatsoever. Nothing published by CoinDesk constitutes an investment recommendation, nor should any data or Content published by CoinDesk be relied upon for any investment activities. CoinDesk strongly recommends that you perform your own independent research and/or speak with a qualified investment professional before making any financial decisions.
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