Viewpoint: Bitcoin faces short-term pressure, influenced by macroeconomic and market sentiment changes

JUST IN: Billionaire Mark Cuban says he'd rather own Bitcoin than gold if something bad happens to the economy. "I think it has more value."

The current price of Binance BTC is $94316.51, a decrease of 2.23% in the past 24 hours. Among them, the total liquidation amount of contracts across the entire network in the past 24 hours was 552 million US dollars, with multiple orders being the main liquidation and 125 million US dollars (22.77%) of BTC liquidation. The data is for reference only.

At the close of the US stock market, the Dow Jones Industrial Average rose 0.25%, the Nasdaq fell 0.06%, and the S&P 500 index rose 0.16%.

Recently, the cryptocurrency market has suffered a heavy blow, with mainstream currencies such as BTC and ETH undergoing a blood wash. Currently, they are testing short-term key support, and investors need to operate cautiously. They can use the ability to place orders on multiple accounts to improve trading efficiency and risk management capabilities. The advantages of placing orders with multiple accounts: One Belt, Multiple, Efficiency Doubling: Placing orders simultaneously on multiple accounts reduces repetitive operations and improves trading efficiency; Diversify risk and seek victory in stability: use multiple accounts for trading to effectively diversify the risk of a single account; ● Flexible response and quick response: allows for simultaneous opening and closing of multiple accounts, facilitating timely adjustment of trading strategies; Fund management, real-time control: providing real-time information on funds and positions, facilitating the management of funds and positions. Multi account ordering guide: https://www.aicoin.com/zh-Hans/article/430706

Though U.S. Commodity Futures and Trading Commission chief Rostin Behnam never managed to make it happen, the derivatives watchdog is likely to one day play a more prominent role in overseeing cryptocurrency trading, something he will "continue to advocate" for after he's gone.Behnam, who will step down on January 20 to make way for President-elect Donald Trump's future appointee, said crypto "dominated every season of my tenure," according to what will be his last public remarks as chairman delivered on Wednesday at the Brookings Institution."Concerns regarding customer protections, increasing instances of fraud and market abuse, broader market resiliency, and even financial stability are intensifying in the absence of federal legislation," Behnam said. "We’ve seen this before in our history where we leave large swaths of finance outside of oversight and responsibility, and we have seen time and time again that it ends badly."Addressing the "innovators" directly, he urged the protection of investors that "have demonstrated eagerness to incorporate digital asset products into their portfolios.""Market regulators serve an essential role by ensuring financial innovations are socialized into a culture of regulation and compliance that protects consumers and provides legal certainty," he said, arguing that he never favored an enforcement-driven approach. In contrast, regulation-by-enforcement is the criticism the industry has long assigned to Behnam's counterpart on the securities side, Gary Gensler, the chairman of the Securities and Exchange Commission.In an interview on Bloomberg TV on Wednesday, Gensler — who'll also step down on January 20 — reiterated his view that enforcement was a good way to deal with crypto businesses, and that he was following the lead of his Republican predecessor, Chair Jay Clayton. "It's a field that built up around non-compliance, and I'm proud of what we've done, of building on what Chair Clayton and others have done previously," Gensler said. "I think there's still work to be done."Behnam long maintained a contrast with Gensler on crypto issues, including a disagreement with the Gensler view that current laws are sufficient for the policing of the sector.Trump has made his pick for replacing Gensler at the SEC, naming former SEC Commissioner Paul Atkins as the person he'll nominate. Though the CFTC may rise into a spot of higher authority over crypto trading than the SEC in the future, the incoming president hasn't yet named a successor for Behnam.