Gary "Security" Gensler and the SEC Crashed the Market by Suing Binance – Time to Buy the Bitcoin Dip.
Everything is good for Bitcoin.
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For two and a half months, the Bitcoin price had been moving sideways in a range between $26.8K and $28.5K, with a few exceptions.
These exceptions had, for example, enabled the Bitcoin price to exceed $30K in mid-April 2023, reaching an annual high of $31.0K.
And then, persistently high inflation and a long-awaited recession in America that doesn't come put the brakes on the upward movement in the Bitcoin price seen since the beginning of 2023.
With a Fed pivot postponed, the Bitcoin price was unable to hold above $30K and returned to the range between $26.8K and $28.5K.
Since mid-May, the market had led us to look at the lower supports. Bitcoin had defended the $26.8K level on several occasions, but yesterday's news from America produced what many had been anticipating for some time: a fall in Bitcoin's price towards the support below $25K.
You're probably already familiar with this news, as the SEC is suing Binance and its CEO Changpeng Zhao on 13 counts. In particular, the SEC has charged Binance with violations of U.S. securities regulations.
