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The Sam Bankman-Fried (SBF) trial starts on Wednesday, and the US Department of Justice (DoJ) aims to lock him up and throw away the key. SBF faces a maximum statutory jail term of 110 years if found guilty on all seven counts.<\/p>\n
This weekend, the DoJ\u00a0submitted<\/a>\u00a0a letter motion in limine, advising the court of its intentions to call FTX customers, shareholders, and cooperating witnesses. Turned state\/cooperating witnesses include former Alameda Research CEO Caroline Ellison.<\/p>\n The Crypto market enjoyed a late Sunday breakout, with BTC rallying 2.95% in a single hour to strike a session high of $28,173.<\/p>\n Reports<\/a> of the US Supreme Court plans to end the Chevron Deference Doctrine supported a broad-based crypto rally.<\/p>\n Significantly, an end to the Chevron Deference Doctrine would give powers to the courts to address issues where multiple interpretations of a statute exist. Possible outcomes include ending the regulation by enforcement era and a US regulatory framework to fill the current regulatory void.<\/p>\n Ripple Chief Legal Officer Stuart Alderoty shared the title of a Wall Street Journal article from Saturday, saying<\/a>,<\/p>\n \u201cUnelected bureaucrats \u2013 get back in your lane.\u201d<\/p>\n<\/blockquote>\n Alderoty posted the title of the WSJ article on X \u2013 formerly Twitter \u2013 shortly before the crypto market breakout. There were no other apparent crypto news stories to fuel a crypto breakout.<\/p>\n BTC<\/a> held above the 50-day and 200-day EMAs<\/a>, sending bullish price signals. Significantly, the 50-day EMA converged on the 200-day EMA, signaling a possible bullish cross.<\/p>\n A bullish cross of the 50-day EMA through the 200-day EMA would support a BTC break above the $28,187 resistance level to target $28,500.<\/p>\n However, a fall below $27,500 would bring the 200-day and 50-day EMAs into play.<\/p>\n BTC movement will likely hinge on crypto-spot ETF news and updates from the ongoing SEC cases against Ripple and Coinbase (COIN<\/a>).<\/p>\n The 14-Daily RSI reading of 66.32 supports a BTC break above the $28,187 resistance level before entering overbought territory.<\/p>\nBTC, ETH, and the Broader Crypto Market Spike on Possible Law Change<\/h2>\n
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Technical Analysis<\/h2>\n
Bitcoin Analysis<\/h2>\n