WEEKLY MARKET UPDATE Bitcoin targets record 8th weekly red | 𝗖𝗿𝘆𝗽𝘁𝗼 𝗭𝗘𝗧𝗔 ⚡️

WEEKLY MARKET UPDATE

Bitcoin targets record 8th weekly red candle while BTC price limits weekend losses

3K+ Bit Digital hosting partner's crypto miners go offline after explosion and fire

New York-headquartered crypto mining firm Bit Digital reported two of its hosting partners ceased operations to more than 4,800 rigs following power disruptions at different facilities.

20% drop in the S&P 500 puts stocks in a bear market, Bitcoin and altcoins follow

Whoever coined the phrase “sell in May and go away” had brilliant insight, and the performance of crypto and stock markets over the past three weeks has shown that the expression still rings true.

FCA will ‘absolutely’ consider recent stablecoin depegging when drafting crypto rules: Report

Sarah Pritchard, the executive director of markets at the United Kingdom’s Financial Conduct Authority, or FCA, reportedly said that the regulator will look at the recent volatility in the crypto markets when creating rules for the space in 2022.

Cyprus Outlines Crypto Regulations, Welcomes Careful Use

Cyprus government officials have presented a draft of a cryptocurrency bill in the capital Nicosia. Simultaneously, the EU is working on a mutual legal framework for all of its territory. Interestingly enough, Cyprus scored high in the European Innovation Scoreboard, only coming second to Stockholm, Sweden.