NewsBTC
No Result
View All Result
  • Cryptocurrency News
    • Bitcoin News (BTC)
    • Ethereum News (ETH)
    • Ripple News (XRP)
    • Shiba Inu News (SHIB)
    • Cardano News (ADA)
    • Dogecoin News (DOGE)
    • Solana News (SOL)
    • Litecoin News (LTC)
    • Avalanche News (AVAX)
    • Polygon News (MATIC)
  • Crypto Prices
    • Binance Coin (BNB) Price
    • Bitcoin (BTC) Price
    • Cardano (ADA) Price
    • Chainlink (LINK) Price
    • Dogecoin (DOGE) Price
    • Ethereum (ETH) Price
    • Litecoin (LTC) Price
    • Polkadot (DOT) Price
  • Crypto Resources & Directory
  • All Crypto
  • Play GamesTry
  • CasinosTry
Breaking News: Coinbase Confirms DOJ Investigation Following Major Security Incident
  • Cryptocurrency News
    • Bitcoin News (BTC)
    • Ethereum News (ETH)
    • Ripple News (XRP)
    • Shiba Inu News (SHIB)
    • Cardano News (ADA)
    • Dogecoin News (DOGE)
    • Solana News (SOL)
    • Litecoin News (LTC)
    • Avalanche News (AVAX)
    • Polygon News (MATIC)
  • Crypto Prices
    • Binance Coin (BNB) Price
    • Bitcoin (BTC) Price
    • Cardano (ADA) Price
    • Chainlink (LINK) Price
    • Dogecoin (DOGE) Price
    • Ethereum (ETH) Price
    • Litecoin (LTC) Price
    • Polkadot (DOT) Price
  • Crypto Resources & Directory
  • All Crypto
  • Play GamesTry
  • CasinosTry
Bitcoin News
No Result
View All Result
Breaking News: Coinbase Confirms DOJ Investigation Following Major Security Incident

Trader: Bitcoin in a Precarious Position Following OKEx-Induced Selloff

Cole Petersen
Cole Petersen
1 year ago
2 mins read

Reason to trust

Strict editorial policy that focuses on accuracy, relevance, and impartiality
Created by industry experts and meticulously reviewed
The highest standards in reporting and publishing
How Our News is Made

Strict editorial policy that focuses on accuracy, relevance, and impartiality

Ad discliamer

Morbi pretium leo et nisl aliquam mollis. Quisque arcu lorem, ultricies quis pellentesque nec, ullamcorper eu odio.

  • Bitcoin’s price action has been incredibly lackluster throughout the past few days and weeks
  • Bulls and bears have both reached an impasse, which comes despite there being a flurry of both bullish and bearish news
  • Throughout the past few weeks, bulls have been able to dodge any sustained declines resulting from news surrounding the CFTC’s charges against the BitMEX co-founders as well as a $150m KuCoin hack
  • Bullish developments surrounding companies like Square buying BTC has helped negate the impacts of these bearish events
  • Another potentially impactful event that is now unfolding is the arrest of OKEx’s founder
  • The exchange has now frozen withdraws, leaving 200,000 Bitcoin in limbo

Bitcoin’s price was flashing some signs of strength throughout the past couple of days, which is now being suppressed by the news surrounding the arrest of OKEx’s founder in China.

Because he had to regularly conduct withdraw authorizations, him being in police custody has caused all of the crypto locked within the platform to be locked.

In total, over 200,000 Bitcoin sits on the platform, which accounts for over 1% of the total supply of the cryptocurrency.

BTC has yet to face any harsh decline due to this news, but its price is slowly drifting lower.

One analyst is now noting that he is waiting for this situation to get resolved before taking any positions on Bitcoin.

Bitcoin Sees Tempered Downtrend as Fears Regarding OKEx Mount

At the time of writing, Bitcoin is trading down just over 1% at its current price of $11,360. This is around the price at which it has been trading over the past few days and weeks.

Yesterday, however, bulls were beginning to retake control over the cryptocurrency when they pushed it up to highs of $11,600 just before the news regarding OKEx broke.

This instantly caused a selloff that sent it reeling down to $11,200.

Analyst: BTC in a Precarious Position Following OKEx-Induced Selloff

While speaking about Bitcoin’s present outlook, one analyst observed that Bitcoin is now in a somewhat precarious position as it continues struggling to gain any momentum.

He said that he is holding off on taking any positions until the situation is resolved.

“This is what led to BTC dumping over night, missed it, was sleeping. Last times we had FUD (bitmex CFTC, Trump COVID19), we slowly grinded back up. Not rushing a position, might wait for the situation to get resolved [at] OKEx, keep a passive eye until then.”

The coming few days should provide greater insight into how this situation will play out and what impact it may have on the aggregated crypto market.

Featured image from Unsplash.
BTCUSD pricing data from TradingView.
Tweet123Share196ShareSend
Cole Petersen
Cole Petersen

Cole Petersen

Cole is a cryptocurrency analyst based in Los Angeles. He studied at the University of California Irvine and has been interested in Bitcoin and the crypto markets since 2013.

Disclaimer: The information found on NewsBTC is for educational purposes only. It does not represent the opinions of NewsBTC on whether to buy, sell or hold any investments and naturally investing carries risks. You are advised to conduct your own research before making any investment decisions. Use information provided on this website entirely at your own risk.

Related News

Bitcoin

Bitcoin Consolidation Continues: 2 Key Support Levels To Watch

Bitcoin (BTC) prices showed a sideways movement in the past day producing no significant changes. Following the recent rejection at...

Semilore Faleti 5 hours ago
DOGE

DOGE Bulls Hold The Line At $0.15 — Is The Rally Still Alive?

Dogecoin (DOGE) prices have crashed by over 4% in the past month indicating a slightly dominant bearish influence in recent...

Semilore Faleti 8 hours ago
Top crypto analist: het ideale Dogecoin koopmoment voor kans op 200% rally

Top crypto analist: het ideale Dogecoin koopmoment voor kans op 200% rally

Een top crypto analist heeft op Tradingview zijn licht laten schijnen op de Dogecoin koers. Volgens SwallowAcademy kunnen we binnenkort...

Lars Diederiksen 9 hours ago
Load More

Reason to trust

Strict editorial policy that focuses on accuracy, relevance, and impartiality
Created by industry experts and meticulously reviewed
The highest standards in reporting and publishing
How Our News is Made

Strict editorial policy that focuses on accuracy, relevance, and impartiality

Ad discliamer

Morbi pretium leo et nisl aliquam mollis. Quisque arcu lorem, ultricies quis pellentesque nec, ullamcorper eu odio.

Related News

Bitcoin

Are Bitcoin Retail Traders Back In The Market? On-Chain Data Suggests So

Opeyemi Sule 1 hour ago
Bitcoin

Bitcoin Must Hold $106,000 And $98,000 To Avoid Breakdown

Scott Matherson 2 hours ago
Bitcoin

Bitcoin’s True Value Is Higher Than $110,000, Expert Warns

Christian Encila 4 hours ago

Premium Sponsors

Press Releases

  • Cryptocurrency is the best way to get rich quickly, easily...

    14 hours ago
  • XRP Cryptocurrency × Dogecoin Mining: HASHJ launches...

    22 hours ago
  • Koja kriptovaluta ima veći potencijal za stvaranje milijunaša XRP ili Shiba Inu

    Koja kriptovaluta ima veći potencijal za stvaranje...

    1 day ago
  • 3 altcoina koje vrijedi pratiti u prvom tjednu srpnja 2025

    1 day ago
  • XRP Bulls Are Soaring — FINDMINING Rides the Wave to...

    1 day ago

Newsletter

Be the first to get the latest important crypto news & events to your inbox.

  • This field is for validation purposes and should be left unchanged.

About Us

NewsBTC is a cryptocurrency news service that covers bitcoin news today, technical analysis & forecasts for bitcoin price and other altcoins. Here at NewsBTC, we are dedicated to enlightening everyone about bitcoin and other cryptocurrencies.

We cover BTC news related to bitcoin exchanges, bitcoin mining and price forecasts for various cryptocurrencies.

Disclaimer: The information found on NewsBTC is for educational purposes only. It does not represent the opinions of NewsBTC on whether to buy, sell or hold any investments and naturally investing carries risks. You are advised to conduct your own research before making any investment decisions. Use information provided on this website entirely at your own risk.

Company

  • About Us
  • Advertising
  • Contact Us
  • Privacy Center

Social

© 2025 NewsBTC. All Rights Reserved.

  • Cryptocurrency News
    • Bitcoin News (BTC)
    • Ethereum News (ETH)
    • Ripple News (XRP)
    • Shiba Inu News (SHIB)
    • Cardano News (ADA)
    • Dogecoin News (DOGE)
    • Solana News (SOL)
    • Litecoin News (LTC)
    • Avalanche News (AVAX)
    • Polygon News (MATIC)
  • Crypto Prices
    • Binance Coin (BNB) Price
    • Bitcoin (BTC) Price
    • Cardano (ADA) Price
    • Chainlink (LINK) Price
    • Dogecoin (DOGE) Price
    • Ethereum (ETH) Price
    • Litecoin (LTC) Price
    • Polkadot (DOT) Price
  • Crypto Resources & Directory
  • All Crypto
  • Play Games
  • Casinos
Advertise

© 2025 NewsBTC. All Rights Reserved.

This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy Center or Cookie Policy.