Bitcoin price fell below the $33,000 support level, today, Thursday, after rising for a while.
According to Arab Net, Bitcoin was trading down more than 6% this morning, with the price being around $32,920 per coin, while competitors were Ether and Dodge Coin. They trade around $2,200 and 21 cents per coin, respectively, according to Coindesk.
This came after an overnight bounce from around $35,000 hit Bitcoin, with the most popular cryptocurrency failing to break through a crucial resistance level.
The latest price move came hours after fresh selling pressure, in part due to a whale or a large cryptocurrency holder, unknown, trying to sell more from 5000 bitcoins. It was noted that the accumulation of short positions on the main Bitfinex exchange.
European Union documents, on the other hand, showed on Wednesday that the bloc will propose a new anti-money laundering authority and new transparency requirements for the transfer of crypto assets, Reuters reported.
The US Securities and Exchange Commission also wants more time to review SkyBridge Capital's application for a bitcoin trading fund, according to a filing from the US regulatory agency reported by Coindesk.
US regulators have been very cautious about approving such investment vehicles. The approval will provide individual investors with access to the Bitcoin market without having to own the Bitcoin itself.
On the other hand, more than $1 billion in cryptocurrency has been spent by consumers globally in the past six months using crypto-related Visa cards, according to a blog post by Credit and debit card company.
Visa CFO Vasant Prabhu told FOX Business that cryptocurrency spending on daily purchases has grown very quickly compared to almost nothing a year ago.
