Bitcoin falls below $26,500 after SEC legal action against Binance and Coinbase

Bitcoin falls below $26,500 after SEC legal action against Binance and Coinbase

For his part, ethereum shows strong resistance and remains above the u$s1.800although it registers a fall of 2.2% in the last 24 hours.

The index “fear and greed” BTC mark 53 points is the day and it stays “neutral”. The purpose of this index is to quantitatively represent the current “emotions and feelings” in relation to Bitcoin and the cryptocurrency marketwith its maximum rating being 100.

What investors expect after the fall of Bitcoin

Meanwhile, investors expect to break above the $27,000 level soon and start the new bullish trend for the largest cryptocurrency by market capitalization ranging between $38,000 and $42,000.

The reason why investors believe that the key level will be reached is because the 200-week rolling measure (MA), an important support level that, in $26,400just got lost for a few hours.

BTC alarmed users when it fell more than 4% to touch $25,000, a level that had not reached since March. In this sense, the price that the cryptoactive now registers It translates as a rebound that investors expected.

Likewise, the volume traded and the capitalization in the market increased in relation to the day before by 4.59% and 29.39% respectively and according to Coinmarketcap data.

Why did the SEC sue Binance?

The SEC filed a lawsuit against Binance and the CEO on Monday Changpeng Zhao for alleged violations of securities laws. Additionally, this legal action comes after the Commodity Futures Trading Commission took earlier regulatory action against the company.

A day after regulators sued Binance and its CEO for allegedly operating a “deception network,” the United States Securities and Exchange Commission asked a federal court for a temporary restraining order to freeze the company’s US assets. Binance cryptocurrency exchange.

SEC lawsuit against Coinbase

The Securities and Exchange Commission (SEC) alleged Tuesday that Coinbase traded at least 13 crypto assets that are securities and should have been registeredincluding tokens like Solarium, Cardano and Polygon. In turn, he claimed that the cryptocurrency was operating as a market, broker, and clearinghouse without registration.

Today the CEO of Coinbase Brian Armstrong responded to the SEC: “It is not appropriate for the regulator to take action if we do not have a clear rule book and clear guidance”and added: “They say that everything that is not bitcoin is a security. Well, that is not our interpretation of the law”.

Source: Ambito

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