BITCOIN

Bitcoin failed to gain pace above $40,700 and declined against the US Dollar. BTC traded to a new weekly low and might struggle to climb above $39,200. Bitcoin started a fresh decline after it failed to clear the key $40,700 resistance zone. The price is now back below $39,000 and the 100 hourly simple moving average. There was a break below a connecting bullish trend line with support near $39,500 on the hourly chart of the BTC/USD pair (data feed from Kraken). The pair could correct higher, but upsides might be capped near $38,800 or $39,200. Bitcoin Price Declines Sharply Bitcoin price attempted a clear move above the $40,500 level. However, BTC failed to clear the $40,700 and $40,750 resistance levels. A high was formed near $40,776 and the price reacted to the downside. There was a sharp decline below the $40,000 level and the 100 hourly simple moving average. Besides, there was a break below a connecting bullish trend line with support near $39,500 on the hourly chart of

Abu Dhabi Global Market has awarded a full financial license to crypto exchange Kraken. “Kraken will be the first global virtual assets exchange group in the UAE to offer investors the ability to invest, trade, withdraw and deposit virtual assets (bitcoin and ether) directly in local AED currency,” the regulator explained. Kraken Establishes Middle East Headquarters Abu Dhabi Global Market (ADGM) announced Monday that cryptocurrency exchange Kraken has become “the first global virtual assets exchange group in the UAE to receive a full financial license from ADGM.” Abu Dhabi Global Market is an international financial center and free zone in Abu Dhabi, the capital of the United Arab Emirates (UAE). It is the largest regulated jurisdiction of virtual asset activities in the Middle East and North Africa (MENA) region. The regulator explained: Kraken is the first global cryptocurrency exchange to receive a Financial Services Permission (FSP) license to operate a regulated virtual as