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Today’s Cryptocurrency Headline

The National Bank of Kazakhstan (NBK) successfully completed the second phase of testing the Central Bank Digital Currency (CBDC) platform. The country’s primary motivation for conducting studies on CBDC was to test its potential to improve financial inclusion, promote competition and innovation in the payments industry and increase the nation’s global competitiveness. Kazakhstan’s central bank recommended making the in-house CBDC available as early as 2023 with a phased expansion of functionality and introduction into commercial operation until the end of 2025.

BingX’s Bitcoin Chart

Source: TradingView & BingX

According to Glassnode, Ethereum balance on exchanges reached a 4-year low of 19,523,141.398 ETH. Bitcoin is down 0.25% over the last 24 hours and fell to an intraday low of $16,636.31. The price of Bitcoin has not changed too much during the weekend. The 20-day EMA has started to turn down and the RSI has dipped below 43, indicating that bears are in command. If the price sustains below the 20-day EMA ($17,034), it could decline to $16,000.

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