Graph – BTC projection against USD (06-05-2023)

Gráfica – Proyección BTC contra USD (05-06-2023) - DIG Fund

Attached is the 4-hour chart of BTC against USD (own elaboration in Tradingview), at a focal price of $25,519.99. We can appreciate a price decrease, so far today, of 5.88%. The reason is of a fundamental nature. The news that has caused stress in the crypto market has to do with the SEC’s complaint against Binance and its CEO, Changpen Zhao, for non-compliance with securities regulations, since the exchange traded unregistered tokens. The accusations against Binance have been going on for about a year now, although this may certainly be the most serious of all. BNB, which is the currency Binance is funded with, has fallen more than 9% on the day. This news reinforces the widespread decentralization process, and all signs point to a return of “flight to quality“, where the strong ones, BTC and ETH, will be the winners. We will keep you updated on further developments.