Bitcoin has broken through the sideways consolidation of recent days.
Glassnode is allowing BTC to fall to $17,000. The IMF has called for global regulation of cryptocurrencies.
A Bellatrix update has been activated on the Ethereum network.
Bitcoin collapsed 4% on Tuesday, ending the day around $19,000 amid negative stock indexes. BTC intensified its decline after breaking support for the past week and a half around $19,600, testing the lows of late June around $18,700.
The International Monetary Fund (IMF) has called for global regulation of cryptocurrencies, which have evolved from niche products into a payment instrument, speculative investment and hedging tool. Recent bankruptcies of issuers, exchanges and hedge funds only reinforce this need.
Europol has praised blockchain technology as a tool for fighting crime. Blockchain's ability to track transactions makes it easier to find and recover stolen funds, the agency said.
The Ethereum team has activated the Bellatrix upgrade. The upgrade is the last step before migrating the core network to the PoS algorithm. The Merge is expected to be completed on Sept. 15.
Investment giant Franklin Templeton, which manages more than $1.4 trillion in assets, announced the launch of an exchange-traded fund (ETF) focused on meta-universes.
According to media reports, streaming service Netflix will ban cryptocurrency advertising in a new ad-supported plan.