📰 Bitcoin (BTCUSD) Gains as India’s COINS Act Model Law Proposes Clearer Crypto Regulation & Bitcoin Reserve
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Jul 21, 2025, 08:49 EDT
| 🔗 Source: Cointelegraph
🧠 Summary
A new non-binding model law, the COINS Act, proposes clearer crypto regulation in India, including a Bitcoin reserve and a dedicated regulatory body, aiming to reduce uncertainty and support crypto innovation and adoption.
💡 Why this signal?
- Bitcoin is struggling to overcome strong resistance around $119,482, indicating limited upward momentum.
- Failure to close the weekly bar above resistance could trigger bearish sentiment and a correction toward the $112,000 support zone.
- Current sideways trading suggests market indecision, with increased downside risk if the support level breaks.
📈 BTCUSD Price Trend
⏱️ Impact Timing
depending on weekly close, shortly after week end
👥 Competitor Impact
No competitors impacted.
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