Meanwhile, total liquidations have topped $280M in the last 12 hours as crypto market sentiment has turned more fearful.
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Crypto sentiment index dips back to March ‘fear’ levels amid Binance lawsuit
Meanwhile, total liquidations have topped $280M in the last 12 hours as crypto market sentiment has turned more fearful.
Coinbase, Robinhood, CFTC to testify in Congress over draft crypto bill
Paul Grewal reiterated that the “U.S. is falling behind” and is at risk of driving jobs, innovation and investment overseas.
Binance lawsuit: 61 cryptocurrencies are now seen as securities by the SEC
With its latest suit against Binance, the U.S. SEC has now labeled at least 61 cryptocurrencies as securities, affecting $100 billion worth of tokens on the market.
Ex-NFL team owner Reggie Fowler gets 6 years for crypto ‘shadow banking’
U.S. Attorney Damian Williams said Fowler’s lies exposed the U.S. financial system to “serious risk.”
SEC complaint hints at why Brian Brooks resigned as Binance.US CEO
New details revealed in the SEC complaint could explain why Brian Brooks abruptly stepped down as CEO of Binance.US in 2021, a crypto lawyer suggests.
SEC’s Binance suit contains heavy mix of predictable charges, novel revelations
The world’s largest cryptocurrency exchange has been hit with an SEC suit that many saw coming, but the details will be studied closely.
Maybe Bitcoin didn’t bottom? SEC lawsuit against Binance shakes BTC bulls’ confidence
Bitcoin’s price dropped to $25,500 after the SEC announced a lawsuit against Binance and Changpeng Zhao, a move which also has BTC bulls wondering if the bottom is truly in.
Maybe Bitcoin didn’t bottom? SEC lawsuit against Binance shakes BTC bulls’ confidence
Bitcoin’s price declined 5% in one hour on June 5 after the United States Securities and Exchange Commission (SEC) filed a lawsuit against Binance on allegations of violating federal securities laws. Even though the $25,500 support held for Bitcoin, investors are still digesting the potential impacts of the regulatory action, which also involves Binance CEO Changpeng “CZ” Zhao.
According to digital asset investment firm Arca CEO Jeff Dorman, the direct impact of an eventual shutdown of Binance operations in the U.S. is irrelevant. Furthermore, non-criminal charges from the past should not destabilize Binance’s present international structures. Still, Arca’s CEO expects negative market sentiment to prevail as the crypto community cheers for CZ and Binance.
Binance is not the only pressing concern
Even if the SEC charges against Binance have little to no impact in the medium term, there’s additional uncertainty coming from Digital Currency Group (DCG) and its subsidiary Genesis Capital, which filed for Chapter 11 bankruptcy on Jan. 19.
According to Jon Reiter, CEO of Data Finnovation and ChainArgos, DCG CEO Barry Silbert pulled $1 billion out of his personal holdings just as cryptocurrency hedge fund Three Arrows Capital defaulted. While this could have been a coincidence, it certainly draws even more attention to the intercompany loans and deals inside DCG.
Traders now question whether Bitcoin (BTC) will test the $25,000 resistance, a level unseen since March 17. Considering that the U.S. debt ceiling crisis has been averted, the odds for a surprise Bitcoin price rally seem even more unlikely in the short term.
How regulators are mitigating the risk of extinction from AI: Law Decoded, May 29–June 5
There is no shortage of regulatory efforts to mitigate the negative impacts of artificial intelligence.
Price analysis 6/5: SPX, DXY, BTC, ETH, BNB, XRP, ADA, DOGE, SOL, MATIC
Bitcoin (BTC) and altcoins witnessed a sharp sell-off on the news that the United States Securities and Exchange Commission (SEC) had filed a suit against Binance in U.S. courts for unregistered securities operations.
This lawsuit could delay the recovery in Bitcoin and most major altcoins as traders could prefer to remain on the sidelines for a few days until some clarity emerges. Another upcoming event that could keep the investors at bay is the Federal Reserve’s meeting on June 14.
Daily cryptocurrency market performance. Source: Coin360Although the short-term picture is uncertain, Glassnode data shows that the largest cohort of Bitcoin whales, owning at least 10,000 Bitcoin, has been on an accumulation spree for the past few days. On the other hand, all the other major cohorts have been in a distribution phase.
What are the important support levels that could start a recovery in Bitcoin and the major altcoins? Let’s study the charts to find out.
S&P 500 Index price analysis
The S&P 500 Index (SPX) broke and closed above the overhead resistance of 4,200 on May 26, completing the bullish ascending triangle pattern.
Price analysis 6/5: SPX, DXY, BTC, ETH, BNB, XRP, ADA, DOGE, SOL, MATIC
Bitcoin and several altcoins took a beating on reports that the SEC filed a suit against Binance in the United States District Court.
Tether invests in El Salvador's $1B renewable energy project
El Salvador’s plans to build a billion dollar renewable energy precinct has found a first round investor in stablecoin issuer Tether.
Tether invests in El Salvador's $1B renewable energy project
El Salvador’s plans to build a billion dollar renewable energy precinct has found a first round investor in stablecoin issuer Tether.
Blue-chip collaterals help stabilize NFT lending: Paraspace
"We only support blue chip NFT to reduce the risks," said Paraspace developers.
Fines and regulation: The ever-growing landscape of crypto compliance
How have the regulatory and legal frameworks governing cryptocurrency fines transformed over the years, and what are the key trends and challenges?
GameStop NFT back in the spotlight after partnership with Illuvium
The partnership will debut 20,000 nonfungible tokens in its inaugural collection.
SEC sues Binance in US District Court for unregistered securities operations
According to the regulator, Binance failed to register as a securities exchange and operated illegally in the United States.
Bitcoin price will get 'another test' of 200-week trend line — analyst
A crucial BTC price support is coming back into the picture with Bitcoin bulls struggling below $27,000.
Bitcoin price will get 'another test' of 200-week trend line — analyst
Bitcoin (BTC) fell to multi-day lows at the June 5 Wall Street open as action heated up on exchanges.
BTC/USD 1-hour candle chart on Bitstamp. Source: TradingViewVan de Poppe: Trend line failure could mean "bottom isn't in yet"
Data from Cointelegraph Markets Pro and TradingView showed BTC/USD wicking to $26,640 on Bitstamp.
Down nearly 3% versus the weekend’s highs, the pair looked weak as key support lines inched closer.
Among these was the 200-week moving average (MA), now at $26,400, which had weathered repeated tests to stay as support since mid-March.
“Bitcoin is going to get another retest of support at the 200-Week MA (purple),” Keith Alan, co-founder of monitoring resource Material Indicators, warned in commentary on the weekly chart.
