Market Overview
According to OKEx data, the BCH/BTC spot market showed continued bearish momentum on Monday (December 4). The pair fluctuated between 0.144040 (daily high) and 0.127090 (daily low), with current consolidation observed near 0.133376.
Key observations:
- Bearish pressure persists in BCH/BTC trading
- Potential for further downward movement if support levels break
- Market shows signs of short-term volatility
Bitcoin (BTC) Price Analysis
The BTC quarterly contract reached a new high at $11,973.47 overnight, with signs of stabilization above $10,000. Critical levels to watch:
| Support/Resistance | Price Level | Significance |
|---|---|---|
| Strong Support | $10,000 | Key baseline |
| Breakout Level | $9,500 | Reversal signal |
Market outlook:
- Sustained trading above $10,000 suggests continuation of bullish trend
- Breakdown below $9,500 could trigger corrective movement
- Volatility expected near current all-time highs
Regulatory Update from Japan
Japan's Financial Services Agency (FSA) approved four additional cryptocurrency exchanges on December 4, bringing the total to 15 licensed platforms since April's Payment Services Act implementation.
Newly approved exchanges:
- Tokyo Bitcoin Exchange Co., Ltd.
- Bit Arg Exchange Tokyo Co., Ltd.
- FTT Corporation
- Xtheta Corporation
Approved trading pairs:
- Three exchanges authorized for Bitcoin (BTC) trading
Xtheta approved for 8 additional cryptocurrencies:
- Ethereum (ETH)
- Bitcoin Cash (BCH)
- Ripple (XRP)
- Litecoin (LTC)
- Ethereum Classic (ETC)
- NEM (XEM)
- Monacoin
- Counterparty tokens
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Frequently Asked Questions
Why does Japan's exchange approval matter?
Japan represents one of the most progressive regulatory environments for cryptocurrencies, setting compliance standards that influence global markets.
What cryptocurrencies can new exchanges trade?
Most can only trade Bitcoin initially, except Xtheta which handles ETH, BCH, XRP, and five other altcoins.
How does this affect Bitcoin's price?
Regulatory approvals generally increase institutional confidence, potentially supporting BTC's long-term value proposition despite short-term volatility.
Market Snapshot
- Bitcoin/USD: $11,546.09 (as of December 4, 13:50 UTC)
- Key support: $10,000 psychological level
- Resistance: Testing near $12,000
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Key Takeaways:
- BTC shows resilience above $10,000 support
- Japanese regulators continue leading in crypto oversight
- New exchange approvals may increase liquidity and trading volume
- Altcoin markets remain dependent on BTC price action
- Regulatory clarity benefits long-term institutional adoption