Topic: SEC Lawsuit Against Binance Is Likely To Hit Bitcoin Price - page 2. (Read 579 times)

I guess that's why people are saying that we are in the bear market, so technically the price can drop anytime and with that negative news around its sure a formula for a disaster. Nevertheless, even if we are in the $25k'ish, it is still well above the last lowest low or bottom price from last year. So it might not be a good sign that we are down, but we could say that the price is still at our support level.

Of course, we should be patience, although the halving is less than a year a from and we might think that it is still very long, time fly so fast, we are now in the middle of the year and in the next 6 months, we might not felt it but we will be in December and then at the start of the new year. So we just need to be ready if the price drops and then continue to accumulate.

Considering it's barely at 25k today and not really looking great overall seems like there is a bit of dangerous act in play for the time being. I believe that even though Binance news is not a big news, and even though it could be manipulation, that doesn't change the fact that it did impact the price a lot.

This is why we should be seeing something different, we should be seeing it do a lot better, and I hope that it would be a lot better in the future as well. I know that people are not going to change anything too much to avoid whenever manipulation happens, people act like it's obvious but then the price goes down which means that even if whales obviously play with the market, they get away with it because there are too many of us who fall for it.

Good at least there are still companies like Microstrategy and BlackRock who knows how to play this game and then buying with the price is down. I can't answer the question though regarding if SEC will approved or deny it. But looking at the SEC on how many companies have applied for a spot and Bitcoin ETF, they just keep on rejecting it. So I wouldn't be surprised if this will be case here again for BlackRock as it seems that the US government or at least who is sitting right now is going anti-crypto and having a hard line stance.

Not quite true, that If I look at the perspective you are expressing suggests that the SEC lawsuit against Binance could have a negative impact on the price of Bitcoin and raises questions about the potential ramifications for other crypto exchange companies.

In fact, judging from market dynamics, investor sentiment and market resilience, the cryptocurrency market has shown resilience in the face of regulatory actions and negative news in the past. Yes. While the SEC lawsuit against Binance may initially lead to a drop in the price of Bitcoin, it is important to recognize that market reactions can be temporary and depend on a variety of factors. As far as I know the price of Bitcoin and other cryptocurrencies is affected by many factors beyond individual lawsuits or regulatory actions including investor sentiment, market trends, macroeconomic conditions and global events. While regulatory measures can have short-term effects.

On the other hand, the global nature of the cryptocurrency market allows investors to diversify their holdings across various exchanges and jurisdictions. While the SEC's jurisdiction primarily covers the United States, many cryptocurrency exchanges operate outside the United States and may be less vulnerable to the direct impact of SEC actions. Investors can explore opportunities on global exchanges, potentially reducing the concentration of risk associated with a single regulatory body.

For today's market, if you look at it. In the short term, if the Bitcoin price stays above the $24,800 level, there is likely to be a bearish retest to the May low of 25.7K. These retests can cause a bit of a headache for traders who short-term beforehand, resulting in price pressure that makes them feel the loss before the next downward price move.


The regulatory landscape surrounding cryptocurrencies is evolving, and exchanges are increasingly taking steps to ensure compliance with relevant regulations. If there is action there is bound to be a backlash and it is acknowledged that regulatory actions may create short-term disruption but they may also contribute to the maturation and legitimacy of the industry in the long term where As exchanges adapt and implement strong compliance measures they may be in a better position both to mitigate regulatory risks and avoid significant damage to the cryptocurrency market as a whole. If there is a crypto exchange company platform when it is confirmed and avoided, it is very easy for the SEC to read where it is going. This is just an example from me because it's not without reason, they work protected by law and the state.

There's no US SEC lawsuit on Binance and the other big cryptocurrency exchange won't affect the Bitcoin market price but they are doing their job in a selfish way that is why Mark Cuban said "They are throwing crypto startups under the bus" because the market is currently in the panic caused by the Ordinal Inscriptions.

Yes, but the only way is to register with the appropriate firm and follow the rules and regulations of the US SEC. Their rules seem to be complicated if not most of the CEX won't have a problem with them.

Nothing surprising on which these government sectors would really love on engaging into something which would they do see on having the chance on altering out the current trend specially if this one is really that correlated with bitcoin or crypto as a whole. It wont really be shocking these government agencies would really love on stirring up on this market on which it could really potentially make out some effects here on the market but not really that something that you could really be boggled because no matter how bad the market would really be going down, there's always that recovery on which the price would be starting out to climb up. Manipulative kind of approach or target? Possible but we cant really be able to make out some conclusions because we know that government would really be always having the time and the power
on doing so and there's nothing we can do about it. The important thing on here is that Bitcoin do able to sustain it out despite of these conditions or situations.

I simply observed the SEC of the US why they are doing things to attack the well-known crypto exchanges in this industry. Primarily to confuse investors and traders. I just noticed this yesterday in addition to the harassment they do with cryptocurrency exchanges.

They will say it is paused first but then they will raise interest again, but the truth is that their target is to reduce inflation by 3-4%. Or they may raise nothing more depending on them because they really just want to manipulate what is happening in the market. But anyway, the best solution for the crypto exchanges it is for Binance and Coinbase to move to a country where crypto or bitcoin is welcome here.

something unbelievable that I've seen until today and that I thought it was over and this thing of people in the cryptocurrency market are always victimizing themselves thinking that whenever regulators are doing their job it's because they don't like cryptocurrencies and are chasing cryptocurrencies to destroy cryptocurrencies, when in fact and deep down they know that this is not true. regulators are there to supervise and make people comply with the laws, all exchanges know that each country has laws, so it is the duty of exchanges to have a legal department that gives them advice on how to proceed

to avoid having problems with governments, when exchanges comply with all laws then they will not have problems, this is simple in theory, but what has been seen is that in practice exchanges do not have a legal department, and that is why they operate breaking the laws after the regulators sue them, then a big problem starts that affects the whole market and for the exchange they have a clean image they keep using arguments that it is the regulators who are acting badly against the exchange and that the exchange is innocent, but well in the people know deep down that something is wrong and that's why the price starts to drop a lot, because people don't believe or trust what the exchange is saying

The lawsuit will affect the Bitcoin price but it won't cause much damage. One of the reasons for this is that SEC is suing Binance.US and its CEO. America is a big market but it's not the only place that Binance does business.
Things seem to be going well for Binance in court anyway. SEC made a motion to the court to freeze Binance's assets to protect billions of U.S. citizens' assets. The motion was denied because according to Binance, if their assets are frozen, they won't have resources to run their business while on trial and that will mean putting them out of business before even going to court.

I don't think this is possible. I do not know the technicalities of these rules and regulations but it's very difficult to do business as a crypto exchange in the U.S. in a way the SEC won't come knocking, especially as a big exchange. Most times I feel they are just trying to shake the tree and see what falls. They're just doing their job.

Will the Sec war vs binance have an effect on the value of Bitcoin and other assets,  the answer is yes but its effect will be short-term effect and not long from now the price will recover and those who chose to hold for a long will be in gain by then,  and as a matter of fact,  speculating the price of bitcoin at this crisis period is a kind of risky because it unclear where the price is heading to in the next minutes.

But the grips of the sec lawsuit won't hold us down for long and as a matter of fact, the bitcoin bitcoin is already showing some recovery signs already and that goes along to point to the weakness of the fund at the moment.

Of course SEC has nothing against Bitcoin, but they are definitely trying their best to find a reason to go against it. It's what regulators do. But they will fail either way.

The biggest problem that I see with this lawsuit is that Binance is deeply intertwined with Bitcoins speculative value. So if Binance takes a hit, Bitcoin price too takes a hit.

The whales of course are only happy to add FUD and Fomo into the whole mess, so they can buy cheap Bitcoin from the panic sellers.

It's always been like this. Just hold and don't panic.

As you might have said cheap and scoop, I think it was the big players like BlackRock a one of the many big financial company that buying at this level. It was indeed one of the shareholders/owners on Microstrategy and just saw a news this day on coindesk that BlackRock wanted to file a Bitcoin ETF. This isn't a coincidence and would the SEC deny it once again if it's regarding a spot Bitcoin ETF?

Edit: It was confirmed a spot Bitcoin ETF filed by BlackRock source: https://twitter.com/EricBalchunas/status/1669447691787444224?t=8G1gY_8x-_faXd2OmQgPzA&s=19

And you hit it on the bull eyes mate, Yeah, the spike to $27k after the initial news of Binance being sued by US SEC might be form or manipulation. And then we stay on the resistance level of $25k-$26k for sometime. But in the last 24 hours, maybe it was not due to the this news already, or it might be the effect of the pause of rate hike by Feds, the price suddenly goes down below $25k and it might still continue to drop to $23k-$24 maybe at the end of the month. I know, it's negative to us, but still though, another perfect chance to us to scope cheap bitcoin and grow our holdings.

To be honest we should be aware of the valuations that exist on centralized exchanges, it is quite a large contribution to the price movement in bitcoin especially for all coins on the market, the worst news we have ever experienced was the FTX bankruptcy, and indeed if the policy bureau of the Federal Reserve is fighting crypto it has a pretty good impact on the price on the market. What the SEC is doing has a very impact on the mentality of a bitcoin holder, but those who see that this is an opportunity to collect bitcoin at low prices are very smart people to take the decision to continue to accumulate bitcoins, what happened today is quite rare which is indeed an opportunity for us to take some bitcoins, for further Bitcoin ATH capital.

The security and exchange commission mightn't stop attacking cryptocurency centralized exchange but they won't have much impact on the market as this current lawsuit did. Binance and Coinbase exchange are giant in the market that's why they're having impact.

Centralized exchange in the US should stop offering service to security and they won't have any problem with the US security and exchange commission. It's because of the security that they're trading on their exchange that brought about the lawsuit they're facing now.

The lawsuit mightn't have more impact on the price of Bitcoin as it's already recovering, altcoins are the ones that'll surfer the most because the last time I checked the market, alts are already losing percentage in huge figures and this might continue in the coming days.

Well, the bull run can obviously be delayed or postponed if there is too much FUD and panic selling in the market, we all know how bad panic selling can be for the market, and when there is such bad news and allegations and cases going on the biggest cryptocurrency exchange of the world, there will surely be consequences of that. Whether we like it or not, it will affect the market very badly if things don't settle down soon.

It might be a loss for US citizens in the long run since all the exchanges and services related to cryptocurrencies will withdraw from the country and they will be left with no options for involvement with cryptocurrencies which is evidently the future, but for now, it will be bad for the market.

Today we are seeing a rise in both Bitcoin and Ethereum's market dominance with the current shitcoin sell-off, which is a healthy change imo.

Bare in mind some of the most popular shitcoins are currently down -25% while BTC/ETH are down around -3-5%, which isn't very significant given recent price action. Overall a lot of shitcoins have looked bearish for a long-time now, so this is merely the catalyst to fall lower as was always expected as the most likely outcome, whereas Bitcoin still looks relatively bullish with support below.

Eventually once Bitcoin reaches between $23K and $25K I think it will reverse back to the upside, confirming previous resistance as new support. Meanwhile, with the SEC continuing to go after altcoins, they will likely fall lower. It's long overdue that Bitcoin's market dominance rises back to the upside, so again this looks like a realistic catalyst for that to now occur.

There are indeed causes for the problems being faced by the two major exchanges at the moment, but judging from the level of selling pressure that is currently in the market, of course altcoins will always be affected by the dumping of Bitcoin which may have something to do with withdrawing a number of assets from the rich and also selling in large quantities by big investors so altcoins also seem to suffer because they very often follow the market cycles of Bitcoin movements.

The impact was indeed very extraordinary because indeed many withdrew from the two exchanges,
whether selling their assets in the form of stable coins or withdrawing their assets in the form of crypto assets,
but from the altcoin and Bitcoin dumps it was clear that selling pressure on exchanges was very high than usual .

Yeah, It’s very hard to ignore those bad news since people will definitely secure their funds rather than stay loyal on holding. I’m surprised how Binance still holding until but I believe their investors is just waiting for each other to make a move first and the price action will be more massive than their current condition once whale started to withdraw their funds out of the exchange or any Binance tokens.

This is good news for long term investors because we can accumulate more on low price before halving but the effect will might be long term if this issue turns out US banning altcoins.