First Mover Americas: Bitcoin Falls Back to Below $25K

$BTC has retreated to below $25,000 after reaching a nine-month high on Tuesday at about $26,500. Altcoins $STX and $IMX gained more than 30% on the day. LedesmaLyllah reports.

, the first federally chartered crypto bank in the U.S., told Bloomberg that regulatory uncertainty in the U.S. played a role in its decision to cut staff.Bitcoin's weekly chart shows the cryptocurrency is again struggling to establish a foothold above $25,000, which capped gains last month and in August 2022.

According to chartered market technician Aksel Kibar, a breakout above $25,000 would shift focus to the next hurdle at $28,600. "The challenge for BTCUSD is the immediate strong resistance at $28,600 after $25,000. The ideal condition is to break $25,000 with momentum so that it clears $28,600 in one shot," Kibar noted.

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