Bitcoin (BTC) has new BTC price targets to reckon with as a cascade of liquidations take crypto markets lower.

BTC/USD 1-hour chart. Source: TradingView

Thanks to regulatory enforcement action by the United States Department of Justice, largest global exchange Binance is in line for a major fine. Its CEO, Changpeng Zhao, informally known as CZ, will be forced to quit his post and may even face jail time.

This was a watershed moment for one of the crypto industry’s household names, and markets reacted with arguably understandable concern.

BTC/USD fell to $35,600, per data from Cointelegraph Markets Pro and TradingView — its lowest levels since Nov. 16 — before rebounding thanks to…

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