Babel Finance Looking to Hire Restructuring Specialist Houlihan Lokey

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Today’s Cryptocurrency Headline

Babel Finance is hiring U.S. investment banking firm Houlihan Lokey, a specialist in restructuring and distressed mergers and acquisitions, CoinDesk reported. Babel is considering restructuring and is in the process of signing a business engagement, people familiar with the matter said. Neither Babel Finance nor Houlihan Lokey responded to requests for comment.

BingX’s Bitcoin Chart

Source: TradingView & BingX

El Salvadoran President Nayib Bukele announced on Twitter that El Salvador purchased 80 bitcoins again at a unit price of $19,000, for a total of about $1.5 million. Bitcoin is down -5.25% over the past 24 hours and fell to an intraday low of $18,951.58. The largest cryptocurrency reclaimed the $20,000 price level early today, but the bears pulled the price back to $19,000 in the following hours, indicating the bears are selling on the rally. For now, the $20,000 is becoming a resistance for Bitcoin, and the bears will be active if the price is above this level. 

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