June 26 BTCUSD BingX Chart Analysis and Today's Headline

Bitcoin recently surged to over $31,400, registering a year-to-date gain of over 80%. Other cryptocurrencies followed suit, highlighting the resilience of the crypto market. However, Bitcoin subsequently retraced below the initial support level of $30,250, which warrants careful attention as a critical support. Following the upward movement, Bitcoin's momentum stalled, leading to a pullback from its recent highs and resulting in a short-term consolidation within a narrow range.

Today’s Cryptocurrency Headline

Italy's Central Bank Has Launched a CBDC Pilot Project

According to Finextra, the Bank of Italy has initiated a pilot project for a central bank digital currency (CBDC) called "Project Leonidas." Eighteen Italian commercial banks and the Italian Banking Association (ABI) will participate in the project, which aims to "explore blockchain applications that promote financial stability and consumer protection." Participating banks will use a shared ledger for interbank payments, streamlining the payment process.

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