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Price Updates: BTC, ETH, BNB & XRP

Markets continue to negatively impact Bitcoin price, but a positive sign is that the bulls have not allowed BTC to retest its June low.

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Markets continue to negatively impact Bitcoin price, but a positive sign is that the bulls have not allowed BTC to retest its June low.

BTC

BTC broke below the 20-day exponential moving average of $19,584 and then successfully defended the level between Oct. 8 to 10. The sellers are trying to strengthen their position further by pulling the price below the uptrend line. If they manage to do that, BTC could drop to the $18,125 to $17,622 support zone. Buyers are likely to defend this zone with all their might because if they fail to do that, the pair could start the next leg of the downtrend. The pair could then plummet to $15,000.

ETH

Ether is struggling to rise above the 20-day EMA of $1,351. This suggests that the bears are selling on rallies and will try to sink the price to the strong support at $1,220. The gradually downsloping 20-day EMA and the relative strength index in the negative territory indicate an advantage to bears. If the price slips below $1,220, the selling could intensify and the ETH/USDT pair may drop to the support line of the descending channel pattern.

BNB

BNB has been trading between $258 and $300 for the past several days. The break below the moving averages on Oct. 8 paves the way for a possible decline to the strong support at $258. If the price rebounds off $258, it will suggest that the range-bound action may continue for some more time. The longer the time spent in the range, the stronger will be the eventual breakout from it.

The next trending move will begin on a break above $300 or a drop below $258. It is difficult to predict the direction of the breakout with certainty. Therefore, it is better to wait for the breakout to happen before taking directional bets.

XRP

The bulls tried to push XRP above the overhead resistance of $0.56 but the bears did not budge. The sellers will attempt to pull the price to the 20-day EMA $0.47. If buyers want to maintain the upper hand, they will have to buy the dips to the 20-day EMA. If the price rebounds off this support with strength, the likelihood of a break above $0.56 increases. The pair could then resume its uptrend and rally to $0.66.

The views and opinions expressed here are solely those of the author and do not necessarily reflect the views of CryptoNews. Every investment and trading move involves risk and the reader should conduct their own research when making a decision.

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Binance tightens South African compliance rules for crypto transfers

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Binance is tightening compliance measures for crypto transactions in South Africa, announcing it will fully implement the country’s Travel Rule requirements beginning January 2025. The move aligns with regulations set by South Africa’s Financial Intelligence Centre (FIC) and reflects the exchange’s broader efforts to meet global anti-money laundering standards.

Under the new rules, Binance will require South African users to include verified personal information—such as names, addresses, and account details—when sending or receiving crypto between platforms. These changes are designed to increase transparency and traceability of digital asset transfers, making it harder for illicit actors to exploit decentralized networks.

Binance emphasized that users must complete know-your-customer (KYC) verification before transferring crypto to or from external wallets. Transfers to non-compliant platforms may be restricted or flagged, while internal transfers within Binance or to Travel Rule-compliant entities will remain unaffected.

The announcement follows South Africa’s decision in 2023 to designate crypto as a financial product, placing digital asset providers under the supervision of the FIC. The country has since taken steps to integrate crypto into its formal regulatory structure, including licensing requirements and mandatory reporting obligations.

With enforcement beginning in 2025, Binance urged users to familiarize themselves with the new procedures to avoid disruptions. The exchange also plans to provide additional guidance and tools to help users remain compliant as the deadline approaches.

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Ethereum bounces back as market dominance recovers from all-time low

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Ethereum has staged a notable recovery after recently experiencing its lowest market dominance since its early days. The turnaround comes as ETH surged nearly 4% in the past 24 hours, climbing back above the $3,100 mark and narrowing its underperformance gap relative to Bitcoin.

For much of 2024, Ethereum has trailed behind Bitcoin and a growing wave of altcoins, with its market share dropping below 15% — levels not seen since 2015. The slump was driven by investor focus on Bitcoin ETF momentum, lackluster institutional interest in ETH, and rising competition from layer-1 and layer-2 networks offering faster and cheaper alternatives.

Despite these challenges, Ethereum’s fundamentals remain strong. Data shows a healthy uptick in active addresses, transaction volumes, and total value locked in DeFi protocols built on Ethereum. Additionally, hopes remain high for the approval of a spot Ethereum ETF in the U.S., with analysts suggesting a potential turnaround in institutional flows if approved.

Traders are now watching whether this rebound signals a sustained trend reversal or just a temporary relief rally. With key upgrades and ecosystem developments still in the pipeline, Ethereum’s ability to regain dominance may hinge on reigniting both investor confidence and broader developer activity.

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SEC says it won’t re-file fraud case against Hex’s Richard Heart

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The U.S. Securities and Exchange Commission (SEC) has confirmed it will not pursue a retrial in its fraud case against HEX founder Richard Heart, effectively bringing an end to one of the agency’s high-profile crypto enforcement actions.

The decision follows a recent court ruling that dismissed several key allegations against Heart, including claims that he misled investors and violated securities laws through the promotion and sale of HEX, PulseChain, and PulseX tokens. While the SEC initially signaled it would consider further legal options, it has now opted to forgo additional litigation.

Heart, a controversial figure in the crypto world, had long denied the SEC’s accusations, framing the lawsuit as an overreach by regulators. The agency had alleged that Heart raised over $1 billion from investors while misrepresenting how funds would be used and failing to register the offerings.

With the SEC stepping back, the dismissal marks a rare instance in which the regulator has chosen not to continue a crypto-related fraud case, potentially signaling a reassessment of its approach amid growing legal pushback and mounting scrutiny over its enforcement tactics.

Although the case is now closed, legal analysts suggest the outcome could influence future regulatory efforts and may embolden other crypto founders facing similar challenges. Heart, meanwhile, has positioned the development as a vindication, reaffirming his stance that HEX and related projects were never in violation of U.S. securities laws.

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