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Bitcoin Price Rises to $27,500 on Positive Crypto News from Hong Kong

Bitcoin's price on Coinbase reached $27,500 on Tuesday, coinciding with positive news from Hong Kong's Securities and Futures Commission (SFC) that registered exchanges will allow retail investors to trade BTC and ETH from 1 June.

Analysts suggest that Bitcoin needs to break above $27,600 for bullish continuation. The news from Hong Kong has given the crypto market a boost, with Noelle Acheson, author of the Crypto Is Macro Now newsletter, stating that the ability for retail investors to trade Bitcoin and Ethereum on registered exchanges is a significant development. However, Bitcoin's attempt to break key levels above $28k may be impacted by the US debt limit situation.

Bitcoin Bitcoin $95,709.68
+0.32%
Hong Kong
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