10.12.202509:30 Forex Analysis & Reviews: US banking regulator allows banks to engage in cryptocurrency transactions

Bitcoin experienced a notable increase yesterday, along with other altcoins, following the news that the US banking regulator, the OCC, officially permitted national banks to conduct cryptocurrency operations for clients.

Now, banks can operate under a riskless principal model, acting as intermediaries in transactions without holding crypto assets on their balance sheets. This decision marks the beginning of a new era for the interaction between traditional finance and digital assets.

For the first time, federally chartered banks are receiving a clear signal to legally provide cryptocurrency-related services. This is not merely an experiment. It is a strategic step aimed at integrating the crypto economy into the existing financial system. This move could significantly accelerate the adoption of cryptocurrencies among the general public, as trust in traditional banks remains high.

The OCC's approval creates a competitive environment where banks can offer their clients access to cryptocurrencies without the need to interact directly with cryptocurrency exchanges or custodial services. This reduces barriers to entry into the digital asset market and enhances security for users. By acting as intermediaries, banks take on the responsibility of ensuring regulatory compliance and protecting customer interests.

Importantly, the OCC emphasizes the need to adhere to safety principles and risk management when conducting cryptocurrency operations. Banks must develop clear procedures and control systems to prevent money laundering, terrorism financing, and other illicit activities. This requires significant investments in infrastructure development and staff training.

The OCC's decision also serves as a crucial signal for the crypto industry as a whole. It confirms that regulatory authorities are willing to engage with innovative technologies and establish a legal framework for their development. This could attract new investments and stimulate the development of new blockchain-based products and services.

Trading recommendations:

Regarding the technical outlook for Bitcoin, buyers are currently targeting a return to the $92,900 level, which would open a direct path to $95,000, from where it would not be long before reaching $97,300. The ultimate target will be around the $99,400 peak, and a breakthrough above this level would indicate attempts to re-enter a bullish market. If Bitcoin declines, I expect buyers at the $90,300 level. A return of the trading instrument below this area could quickly push BTC down to around $88,200, with the furthest target being the area of $85,800.

For Ethereum, clear consolidation above the $3,362 level opens a direct path to $3,474. The ultimate goal will be around the $3,664 peak, and surpassing this level would strengthen bullish market sentiments and renew buyer interest. If Ethereum declines, I expect buyers at the $3,233 level. A drop below this area could quickly send ETH down to around $3,126, with the furthest target being $3,023.

What we see on the chart:

- Red lines indicate support and resistance levels where either a price slowdown or active growth is expected;

- Green lines indicate the 50-day moving average;

- Blue lines indicate the 100-day moving average;

- Light green lines indicate the 200-day moving average.

Typically, a crossover or price test of these moving averages either halts market momentum or sets a new directional impulse.