Crypto Industry News:

According to the latest reports from the EU, all cryptocurrencies can be classified as securities. This inevitably opens the way to their regulation. A new report, commissioned by the European Parliament, proposes an approach similar to that of the US Securities and Exchange Commission (SEC).

In its bold strategy, akin to the SEC's push to classify cryptocurrencies as securities, the new study hints that Europe is following the same path. This report opens the door to future regulation within the EU, which forces cryptocurrencies to comply with authorization requirements.

The anonymity so valuable to cryptocurrency enthusiasts now seems to be a relic of the past, following the recent implementation of the Crypto Asset Markets (MiCA) regulation by the EU. This strict rule affects not only the industry itself, but also traders and buyers. It would drastically reduce the anonymity that has so far been associated with digital assets.

However, the debate on this is far from over. Many members see regulation as the first step in a series of legal constraints. The commissioned study is seen as a cornerstone that will help define the future approach to the treatment of crypto-assets.

What is fascinating is that the recent cryptocurrency winter unexpectedly contributed to this development. Its conclusions may influence future regulations, and the study is like the first shot on the starting line.

Technical Market Outlook:

The BTC/USD pair has made a V-shape reversal from the lows seen at the level of $25,442, nevertheless, the rally has failed and the bearish pressure increased. In the result, the market is back under 50 and 100 MA again. The key short them technical resistance is the swing high located at the level of $28,446 and only a sustained breakout above this level would be considered more bullish. The intraday technical support is seen at $25,892. The next target for bulls is seen at the level of $27,452 and $27,570, however the current momentum is barely neutral.

Weekly Pivot Points:

WR3 - $28,056

WR2 - $27,490

WR1 - $27,126

Weekly Pivot - $26,917

WS1 - $26,553

WS2 - $26,343

WS3 - $25,770

Trading Outlook:

The bulls broken above the gamechanging level located at $25,442, so now the mid-term outlook for BTC is bullish. The next target for bulls is seen at the level of $32,350. As long as the level of 19,572 is not clearly violated, there is a chance for a long-term up trend to continue.