Topic: what happened to the market today? - page 6. (Read 815 times)

For several days now, the same news has been in the news that the leading exchanges have problems with regulators, and this time the accusations are quite serious, which, accordingly, caused a slight panic in the market. But as we can see now, there is a slight correction. One thing is for sure, this summer will not be easy and all the events are still ahead of us.

What happened today is part of a bear market even though this is not bad news for Bitcoin but for Binance,
the bear market really has an impact on Bitcoin and dumps occur in Bitcoin and Altcoins, it's terrible isn't it?,
if we don't put a stop loss on our trading of course we will experience a big lose.

The SEC also alleged that a number of other tokens, including the native coins for the Solana (SOL), Cardano (ADA), Polygon (MATIC), Coti (COTI) and Algorand blockchains (ALGO), Filecoin network (FIL), Cosmos hub (ATOM), and Decentraland (MANA) are securities.

News to legitimize the price line in a way that big influencers want to show their dominant power in the market, I see the keyword between SEC and CZ binance being quite prominent on different mediums, you can search for it and to get a better understanding of why prices have dropped in recent times. However, for me in this market, volatility like this is not so special when its amplitude increases or decreases is not too large, we have seen bitcoins rise sharply after a few hours, then its decline. After a few hours it's fine, so the story of the price manipulation news shows the extent to which this market is still in a small state.

The market is on dip it is very clear that we are about yo go down because the market is on red status bitcoin goes down and it is very normal that the altcoins will also go down, but there's nothing to worry about because even if we are on dip today the market is unstable and after the dip there are maybe bull.

This is the situation when the bearish market is still running when bad news comes,
all cryptocurrencies Bitcoin or altcoins experience a dump, even though the bad news comes on only one coin,
that is about the BNB and SEC issues, so hopefully this dump will be the last dump in June.

I was wondering if today's market dump is being caused as a result of the SEC filing a lawsuit against Binance and its CEO, CZ, and why this major price fall for all crypto since there is no clear action that is to be taken by the SEC yet against the exchange. Why are people afraid and always taking the news from the SEC too seriously, which makes their FUDZ more active on a few non-bitcoiners? And since this is just concerning Binance being sued, why not see a negative action by users against Binance? exchange rather than the entire crypto market. According to , Ki Young Ju  Binance is not even experiencing any form of panic withdrawal as a result of the news, but rather they are still seeing a little increase in Bitcoin and other crypto deposits.


Because the SEC disapproves of it, that doesn't mean others won't approve of its trading. The same coins that the SEC is against are still the same coins that . Hong Kong has approved retail investors on 1 June 2023. I don't even see any good things that the SEC has done here. Well, they have the right to decide what is right and wrong for their citizens who are investors, investors they claim to be protecting, yet they don't listen to their opinions (what am I even saying?) All I could see in this entire case is that the SEC is attacking Binance Holdings and its associates based on personal interests and not investor protection.

Is this still something new?

If you are just new into this market then you would be having this common reaction, but if you are already that old or veteran then these drops wont shock you out anymore.We know that we cant really be
having that slow and small scale type of movements whether an increase or decrease in price on every single day. There would be a time that comes that we would really be seeing these kind of drops
whether it does have that fundamental reason or doesnt have any reason at all.

We are dealing on a market on which it is really that truly unpredictable and random on which it would really be just that normal that we do have this red days and its normal that whenever Bitcoin is experiencing
some huge negative then expect that the entire market would really be actually the same.Although there are coins might be increasing as of this moment but only it would be counted by fingers.
On this space, Bitcoin would be the main trend setter and on the time comes that whether it would be having bearish or bullish movement then this one would be dictating out
the overall condition of the market.

SEC was dropping the bomb. It was not greatly affecting bitcoin and ethereum but some altcoins got very big impact like AXS, SAND, and more which has been declared to be security coins by SEC.

Finally, SEC was using its power again to destroy crypto market in short term. Im feeling so disappointed for those who were picking meme coin as investment. Meme coin will be die if this case will still continue.

I don't expect the case between SEC vs binance will be completed very soon. Well done SEC. People were scaring caused by binance hold the largest liquidity at this moment.

Probably you are right, but thats the thing about US, they loves to crack this kind of movement on crypto projects. Well if US wanted out of crypto just say so. Binance US is also a big exchange on US, well since I saw CZ replied that they will fight back then we will see the outcome. But have you seen the tweet where Gary Gensler promoting algorand where in fact they include ALGO on securities they are accusing of? Thats a bit of hypocrisy.

Correction, Binance US

FUD is a tactic for market manipulation. I don't think that goal of SEC is to manipulate markets. It's another thing if this is nothing burger or not, but if SEC sees coins they have listed as unregistered securities, they have to take action against Binance US.

Coinbase and Kraken will be next. That's not a FUD. They are located in US as well and in the eyes of SEC they are selling unregistered securities. It's really hard to see US exchanges winning SEC on this case, but let's hope for the best as i don't have a clue what the future is if ton of cryptos are suddenly securities.

Edit: i didn't realize that they have sued CZ himself as well. This is interesting.

Pretty sure it was related to the SEC charges on Binance and their CEO CZ. Find the story below the official sec announcement.

https://twitter.com/SECGov/status/1665779371108335618?t=Obh5reNnCulLWOylFpMjSw&s=19

I think this is a major fud and lack validity on their part. Also quite tokens are mentioned being a security here. I believe Binance will fight back this is a major dragged to all crypto. Market is being pinned down. Gensler should read the comments on his post on twitter.

It could be a good opportunity to buy before a substantial rise, I only take BTC and ETH, XRP will make a nice pump shortly max 2-3 months

I don't know yet but this is nothing unusual.

We like to see bitcoin move up with $1000 on an instant but would be surprised to see that it falls down quickly with the same amount. I haven't seen the news yet but maybe later on we'll see some triggers on what actually happened.

So, I'll keep looking for the news on different crypto news websites as they'll be the ones that will do the research for us. This is what volatility really means for us.

That is how the market operates things can easily change in a very short period of time. Although i do expect a bearish move to at least the 24k support zone before we can expect another bullish move. Hope that will be the scenario because if that support didn't hold then will can easily go back to the bear market anytime soon cause we are still bearish on the Btc weekly timeframe.

That is the unpredictable nature of the cryptocurrency market, so you don't expect anything all you need do is to continue to holdle only long term investors have peace of mind and does not look at the DCA price of most valuable assets such as bitcoin, I do t know for altcoins, but I am certain that Bitcoin will recover so there is no need to panic if your portfolio is in Bitcoin.

i was surprised to see the market today, everything fell in a short time, bitcoin fell around $1000 very fast and looking at coinmarketcap, all coins are red.  a few days ago bitcoin rose slowly, but today was very surprising. What happen today?