Good Morning Crypto Enthusiasts!

Glad to have you back for another edition of the UseTheBitcoin.com newsletter.

1. OKX Relaunches in U.S.: OKX is reentering the U.S. market after a $505M DOJ settlement for operating without proper licenses.

2. 📈Technical Analysis Masterclass - With TON now trading at around $2.94—a staggering 70% drop from its all-time high. Watch UseTheBitcoin’s latest Youtube video “Everyone Is Selling TONCOIN. Should You? | TON” to see what’s really going on or join our Official Telegram Channel for more alpha!

3. China Sells Seized Bitcoin: Chinese local governments are selling confiscated crypto offshore to fund public services amid economic struggles. Roughly 15,000 BTC were sold, raising transparency concerns.

4. 💡Feature of the Day - UK MP’s X Hacked: MP Lucy Powell’s X account was hijacked to promote scam token House of Commons Coin (HOC).

   
   All this and more in today’s headlines!

📰 News Highlights:

OKX Reenters US [Source][Source][Source]

OKX is making a comeback in the U.S. crypto market following a $505 million settlement with the Department of Justice for operating without proper licensing.

The Seychelles-based exchange is rolling out a new platform in phases, with former Barclays director Roshan Robert leading as U.S. CEO.

Existing Okcoin users will migrate to this new service, offering lower fees, better liquidity, and enhanced tools.

The launch also includes OKX Wallet, supporting 130+ blockchains and aggregating DEX access to over 10 million tokens.

 📈Technical Analysis Masterclass:

Everyone Is Selling TONCOIN. Should You? | TON

📉 Current Technical Outlook

Moving Averages (MA):

• Price is still below the MA ribbons

• This suggests continued bearish momentum

• Until TON reclaims these levels, recovery is unlikely

RSI (Relative Strength Index):

• RSI remains below the 50 mark

• Weak buying pressure; sellers still in control

MACD (Moving Average Convergence Divergence):

• Still showing red bars and negative momentum

• No signs of a bullish crossover yet

🛑 Key Support Zone: $2.30 – $2.80

• This zone acted as strong resistance in the past

• Now it's acting as support (classic role reversal)

• If TON holds this level, we could see a bounce

• If it breaks below, expect deeper price drops

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China Selling Seized Crypto [Source][Source][Source]

Local Chinese governments are reportedly selling confiscated crypto assets in offshore markets to raise funds amid economic slowdown, despite a national ban on crypto trading.

Reuters reports that approximately 15,000 BTC worth $1.4 billion were sold this way, contributing significantly to public coffers.

Legal experts highlight inconsistent processes and lack of regulation, raising concerns over corruption and transparency.

Some have suggested the central bank manage seized assets or even retain them as strategic reserves, similar to U.S. approaches.

💡 Feature of the Day: 

UK MP Hacked [Source][Source]

The X account of UK MP Lucy Powell was hacked to promote a scam crypto token called House of Commons Coin (HOC), which peaked at just $24,000 in value.

The incident occurred on April 15 and involved posts falsely marketing the token as a community-driven project.

Powell’s team confirmed the breach and quickly removed the misleading content, but the stunt still drew media attention.

😂 Crypto Meme of the Day: 

Meme of the day provided by @PresentAdvertising29

And that’s it for this today.

See you all tomorrow’s edition!

Jonathan Gibson
UseTheBitcoin.com