🧵 1. Surprise turn in Binance legal battle with SEC as judge rejects access to Binance.US's systems. Market responds positively, Bitcoin surges above $27k resistance. #crypto
🧵 1. Surprise turn in Binance legal battle with SEC as judge rejects access to Binance.US's systems. Market responds positively, Bitcoin surges above $27k resistance. #crypto
🧵 2. Traders ponder if Bitcoin rally driven by leverage or spot buying demand. Metrics on derivatives may provide answers. Follow-up hearing scheduled for Oct. 12.
🧵 3. Binance's founder remains firm that Binance.US never used Binance International's custody solutions. SEC yet to produce clear evidence of deception. Risks increase for Binance.
🧵 4. Despite lack of evidence, outlook for Bitcoin bulls improves for next three weeks. No expected changes until court hearing. Professional traders show increasing optimism.
🧵 5. Margin-lending ratio drops for OKX traders, suggesting decreasing bullishness. Ratio at lowest point in three months. Excessive confidence typically seen at ratio above 30.
🧵 Read more at: https://cointelegraph.com/news/bitcoin-price-binance-sec-legal-battle-bullish