{"id":46274,"date":"2021-07-18T20:25:05","date_gmt":"2021-07-18T17:25:05","guid":{"rendered":"https:\/\/forklog.com\/en\/?p=46274"},"modified":"2025-09-01T15:33:30","modified_gmt":"2025-09-01T12:33:30","slug":"week-in-review-regulators-press-binance-as-the-finiko-pyramid-halts-withdrawals","status":"publish","type":"post","link":"https:\/\/forklog.com\/en\/week-in-review-regulators-press-binance-as-the-finiko-pyramid-halts-withdrawals\/","title":{"rendered":"Week in review: Regulators press Binance as the Finiko pyramid halts withdrawals"},"content":{"rendered":"

Regulators stepped up pressure on Binance, the People\u2019s Bank of China released a white paper on the digital yuan, the Finiko pyramid halted withdrawals, Bitcoin mining difficulty fell by another 4.8%, and other developments from the week to a close.<\/p>\n

Bitcoin tipped to fall to $23,000<\/h2>\n

The first cryptocurrency closed a third straight week in the red. It began the week near $34,000 and tested the $31,000 level, which held. At the time of writing, the digital gold is trading around $31,400.<\/p>\n

\"Week
BTC\/USD hourly chart on Bitstamp. Data: TradingView<\/a>.<\/figcaption><\/figure>\n

Jeffrey Gundlach, head of DoubleLine Capital and known as the \u201cbond king,\u201d called the Bitcoin chart \u201cscary\u201d and predicted a drop in price<\/a> to $23,000 in the near term.<\/p>\n

Yet analysts at Glassnode flagged a positive signal for the asset in the form of a decline in miners\u2019 selling<\/a>, which has again moved into accumulation territory.<\/p>\n

Over the past seven days Bitcoin slipped 6.5%, according to CoinGecko<\/a>. Of the top-10 by market cap, only Binance Coin fared slightly better, down 4.4%. <\/p>\n

Dogecoin fell 12.6% over the period, although it rose 5.6% in the last 24 hours. This followed another mention of the meme coin by Elon Musk.<\/p>\n

\n

\u00abLil X hodls his DOGE, like a champion. Literally never uttered the word \u201csell\u201d!\u00bb, \u2014 wrote Musk.<\/p>\n<\/blockquote>\n

\n

Lil X is hodling his Doge like a champ. Literally never said the word \u201csell\u201d even once!<\/p>\n

\u2014 Elon Musk (@elonmusk) July 17, 2021<\/a><\/p><\/blockquote>\n