Bank Leumi Reinstates Bitcoin Trading in Middle East

Bank Leumi, a prominent Israeli bank, has decided to restart Bitcoin trading after a brief pause. This move marks significant institutional exposure to cryptocurrency in the Middle East region.

The price action of BTC on the 4-hour chart is currently within Bollinger Bands, with an upper resistance at $64,130.41 and lower support at $62,828.94. The EMA50 is capping the upside at $63,898.51, while the MACD death cross remains bearish at -325.91. Additionally, the RSI stands at 40.35, indicating room for a test of the lower band before any sustained move higher.

The restart of Bitcoin trading by Bank Leumi is an important development in the institutional adoption of cryptocurrency. The bank's decision to resume trading may have implications for the broader market and could potentially influence price action.