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Why is Bitcoin is holding strong in spite of the SEC’s regulatory crackdown?

Bitcoin lost only 7.3% on news about the SEC's lawsuits, as $25,300 represented the bottom of a tight trading range.

Andjela Radmilac
Andjela Radmilac
Jun. 8, 2023 at 3:16 pm UTC
2 min read
Updated: Jun. 8, 2023 at 3:16 pm UTC
Why is Bitcoin is holding strong in spite of the SEC’s regulatory crackdown?

Cover art/illustration via CryptoSlate. Image includes combined content which may include AI-generated content.

Bitcoin's surprising recovery after the U.S. SEC's lawsuits against Binance and Coinbase has left many investors puzzled. A deeper analysis of the trading range reveals three essential price points that played a critical role in stabilizing the cryptocurrency's value this week...

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Bitcoin BTC (24h)
$89,614.12 +0.02%
Vol: $37.58B MCap: $1.79T

Bitcoin, a decentralized currency that defies the sway of central banks or administrators, transacts electronically, circumventing intermediaries via a peer-to-peer network.

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Coinbase

Crypto Exchange • North America

Coinbase is a publicly listed digital asset platform that operates one of the largest regulated crypto exchanges in the United States.

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Binance

Crypto Exchange • Asia

Binance is one of the world’s largest centralized cryptocurrency exchanges by trading volume, offering spot, derivatives, and earning products to a global retail and institutional user base.

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