Bitcoin failed to break the $17,000 mark on Wednesday and has recovered to $16,77,000 as of this writing. Price fluctuations are still more than moderate. BTC is still slightly above the 50-day moving average (50-DMA). Since reaching a critical trend level has not yet stimulated more buyers, it is worth looking closely at the dynamics of the following days. Bitcoin was able to touch the bottom at $16,000, indicating an increase in the number of addresses lost to the network, which exceeded 50% by the end of December, according to a Coinbase report. Similar was the case in January 2015 and January 2019, when BTC bottomed out in previous bear cycles. Bitcoin Ethereum is more bullish as it rallied strongly yesterday past its 50-day moving average and is holding on to most of those gains on Thursday morning. Also, the 200 and 50 SMAs in ETHUSD have already turned to the upside, which is one of the signs of a trend reversal. However, we still need confirmation. News Background Ripple CEO Brad Garlinghouse expressed hope that US regulators will achieve regulatory clarity on cryptocurrencies in 2023. According to him, the biggest problem is that the United States refers to various previous bills, but it is better to start from scratch. Sam Bankman-Fried, founder of failed cryptocurrency exchange FTX, pleaded guilty to eight charges. Bloomberg notes that the refusal to plead guilty will give Bankman-Frid more information about the evidence against him. The trial is set for October. The world’s second cryptocurrency exchange eth Coinbase pays a fine of $100 million. The regulatory authorities point out that the exchange formally met the KYC requirement and that the information provided by the user was not properly verified when registering a new client.