Citadel Securities Will Explore Crypto Space

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Today’s Cryptocurrency Headline

Kenneth Griffin, the founder and CEO of Citadel, told Bloomberg that the firm will explore cryptocurrency market making in the coming months. Kenneth Griffin said: “Crypto is one of the greatest stories in finance over the past 15 years. To the extent that we’re trying to help institutions and investors solve their portfolio allocation problems, we have to give serious consideration to being a market maker in crypto,” he remarked. “It’s fair to assume that over the months to come, you will see us engage in making markets in cryptocurrencies.” Last fall, Griffin told the Economic Club of Chicago that regulatory uncertainty was keeping the market-making firm out of the crypto space.

BingX’s Bitcoin Chart

Source: TradingView& BingX

Bitcoin continues its upward trend and gained 5.2% over the last 24-hours, but it has not broken the 200-day exponential moving average ($45,700). Once BTC breaks through this position, it will continue towards the $50,000 target. Conversely, if BTC falls below $40,000 it will have to seek further support around $36,000. Furthermore, as the Russia-Ukraine war continues, any positive or negative news will further magnify price volatility.

 

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