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Today’s Cryptocurrency Headline

Tether released its latest assurance opinion completed by accounting firm BDO on Thursday, showing that the company made a profit of $700 million in the fourth quarter of 2022. The Consolidated Reserve Report (CRR) showed that, in addition to reducing its secured loans as committed, Tether ended 2022 with zero commercial paper and at least $67 billion in consolidated total assets and excess reserves of at least $960 million.

BingX’s Bitcoin Chart

Source: TradingView & BingX

Bitcoin is down 4.53% over the last 24 hours and fell to an intraday low of $21,700.00. The largest cryptocurrency dropped below $22,000 after the SEC accused Kraken of offering an unregistered crypto staking program, calling it a violation of U.S. securities law. In recent weeks, the price has struggled to push above the significant resistance level of $25K, and now it is slowly declining. The relative strength dropped below the mid-point suggesting that the bullish momentum is cooling. As a result, the likelihood of a correction before the next rally has increased.


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