• US regulators have issued a warning to banks about the risks associated with cryptocurrencies.
• Bitcoin is off to a steady start in the new year and is up 1.13% on the day.
• RSI and MACD have recently formed a bullish crossover, indicating a potential price rise.

The US regulatory agencies, the Federal Reserve, Federal Deposit Insurance Corporation (FDIC), and the Office of the Comptroller of the Currency (OCC) have released a joint statement warning banks about the risks associated with cryptocurrencies. The agencies noted that cryptocurrencies pose a variety of risks, such as fraud, volatility, contagion, and consumer protection issues, and that banks must manage or control these risks in order to prevent them from having a negative impact on the financial system as a whole.

Despite the warning from US regulators, Bitcoin is off to a solid start in the new year and is currently trading at $16,844, up 1.13% on the day. Bitcoin is testing the range high of $16,900, in confluence with its FIB 0.5 level resistance, and the leading indicators, RSI and MACD, are showing a recently formed bullish crossover. This is caused by four consecutive days of green candle closes, indicating that the price may continue to rise.

Although the warning from the US regulatory agencies is a factor to consider, it doesn’t appear to have had a significant impact on Bitcoin’s price as of now. It is therefore worth noting that the current indicators continue to point towards a potential price increase, and that investors should remain cautious when considering their investments.