Bitcoin price has slipped below key support levels, trading around $66,540, as the market faces growing selling pressure.
The break below the $67,000 pivot point signals increased downside risks, with technical indicators suggesting further declines.
He called the October 31, 2008, white paper release a “sweet sixteen.” Gensler praised Bitcoin’s success but reiterated the SEC’s commitment to regulating digital assets through “regulation by enforcement” to protect investors.
SEC Chair Gary Gensler acknowledged Bitcoin’s 16th anniversary in an October 22 interview with Bloomberg.
SEC Chair Gensler Marks Bitcoin’s 16th Anniversary, Reaffirms Regulatory Focus
On October 15, Tesla split its Bitcoin into seven new wallets, with the two largest receiving $142.2 million and $128.1 million.
Despite transferring 11,509 Bitcoins, Tesla still holds $780 million in Bitcoin, according to blockchain analytics firm Arkham Intelligence.
He emphasized that the CFTC is already stretched thin due to the rising number of assets, including cryptocurrencies.
A court ruling allowing contracts for betting on election outcomes has increased pressure on the U.S. CFTC. Chairman Rostin Behnam noted that the CFTC would now need to regulate these contracts, requiring additional resources.
CFTC Faces Pressure to Regulate Cryptocurrency and Election Betting Contracts
