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Bitcoin Dips to $38,500: Possible Reasons

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Fri, 07/30/2021 - 10:04
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Yuri Molchan
The king crypto has dropped over three percent on the recent negative news for the crypto industry
Bitcoin Dips to $38,500: Possible Reasons
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After the Binance exchange announced that it is going to stop offering crypto futures and crypto derivatives to customers around Europe, the flagship cryptocurrency lost over three percent and declined to the $38,500 area.

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Image via TradingView

The first countries where clients will be unable to set up new trading accounts for futures and derivatives with Binance will be Germany, Italy and the Netherlands.

Related
Binance Probed by Indian Authorities Regarding Money Laundering via Betting Apps

Prior to that, U.Today reported that Binance was under scrutiny in India regarding its role in the money laundering activities of Chinese betting apps on the Binance-owned WazirX exchange, the leading one in the country.

At press time, Bitcoin is changing hands at $38,752 on the Kraken exchange.

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About the author

Yuri is a crypto journalist interested in technology and technical innovations. He has been in crypto since 2017. Believes that blockchain and cryptocurrencies have a potential to transform the world in the future in many of its aspects. ‘Hodls’ major cryptocurrencies and has written for multiple crypto media outlets. 

His articles have been quoted by such crypto influencers as Tyler Winklevoss, John McAfee, CZ Binance, Max Keiser, etc.

Currently Yuri is a news writer at U.Today and can be contacted at yuri.molchan@u.today.