• Market Cap: $1,086,325,952,258.46
  • 24h Vol: $80,644,572,840.79
  • BTC Dominance: 45.83%
XBT.Market
Advertisement
  • Home
  • Coins MarketCap
  • Crypto Exchanges
  • Crypto Calculator
  • Top Gainers and Loser
  • News
  • Contact Us
No Result
View All Result
XBT.Market
No Result
View All Result
Home Bitcoin

Bitcoin price struggles to defend $21K as Coinbase faces new SEC wrath

Jon Hartney by Jon Hartney
July 26, 2022
in Bitcoin, Blockchain, Business, Market
0
Bitcoin price struggles to defend $21K as Coinbase faces new SEC wrath
189
SHARES
1.5k
VIEWS
Share on FacebookShare on Twitter

Cold feet reigns across crypto markets once again as Bitcoin bulls lose steam and Ethereum drops 15% in two days.

Bitcoin (BTC) fell to $21,000 on July 26 after it emerged that major United States cryptocurrency exchange Coinbase was under investigation.

BTC/USD 1-hour candle chart (Bitstamp). Source: TradingView

$21,000 now “super critical” for BTC bulls

Data from Cointelegraph Markets Pro and TradingView showed a swift reversion to lower levels for BTC/USD as reports emerged of fresh legal problems for Coinbase over securities trading.

Related articles

Nigeria to tax crypto, digital assets 10% on capital gains: Experts react

Nigeria to tax crypto, digital assets 10% on capital gains: Experts react

June 10, 2023
Ooki DAO to shut down after ‘precedent setting’ court battle with CFTC

Ooki DAO to shut down after ‘precedent setting’ court battle with CFTC

June 10, 2023

The U.S. Securities and Exchange Commission, Bloomberg originally reported, was looking into whether the exchange had allowed users to trade unregistered securities.

Part of a wider battle between the U.S. crypto industry and regulators over compliance, the move appeared to frighten the market, coming amid parallel allegations that a former executive conducted insider trading.

Ironic the peak euphoric events of the Bull Market were Tesla buying #Bitcoin and Coinbase IPO'ing on the Stock Exchange

Now in the last week Tesla has sold and Coinbase is under investigation by the SEC

— Matthew Hyland (@MatthewHyland_) July 26, 2022

With that, Bitcoin was back to defending $21,000 as support on the day, with commentator Mark Cullen stressing that the level must hold for bulls to stay in control.

“The 21k level for BTC is super critical for the bulls to hold if they have any hope of this regaining a bullish posture,” he told Twitter followers.

“A 4hr close below there and the bitcoin ball is well and truly in the [bears’] court.”

Trader Crypto Tony eyed a slightly lower level as a short-term floor, warning that a “drop deeper” was nonetheless a likely future outcome.

$BTC / $USD – Update

$20,700 is my target on this drop, following my chart yesterday. Looking for at least another drop to that level, but i do think we drop deeper ‼️ pic.twitter.com/WXYUCWZm6O

— Crypto Tony (@CryptoTony__) July 26, 2022

For its part, Coinbase had been anything but passive in the U.S. regulatory debate, last week releasing a dedicated blog post on why the SEC should change course.

“If the Commission starts an open process where all of us can provide input, we look forward to sharing our thoughts on how to answer the important questions our petition raises, and we would encourage others to do the same,” chief policy officer Faryar Shirzad wrote.

“We may not agree every step of the way, but it’s critical that this is an open and transparent process, where the public has a chance to offer their views. Policymaking at this level is far too important to be made in a black box.”

Coinbase shares were down 3.7% pre-market, adding to 5.3% losses the previous day.

Trader warns Ethereum could “take out lows” next

A similar mood was visible on altcoin markets, with fellow account TraderSZ forecasting a return to $1,000 for Ether (ETH) even before the bulk of Bitcoin’s losses materialized.

Related: Will the Fed prevent BTC price from reaching $28K? — 5 things to know in Bitcoin this week

ETH/USD, previously the best performer in the July crypto market rebound, traded at just over $1,400 at the time of writing. Versus its peak on July 24, the pair was down 15%.

ETH/USD 1-hour candle chart (Binance). Source: TradingView

On July 25, TraderSZ warned that Ethereum and Bitcoin could both soon challenge lows, the latter aiming for $18,500.

i dont like the way ethusd looks…i think even if it wants to go higher, makes more sense to take out the lows…which means btc could squeeze lower. going to cut my btc long. if it is low, il get back in higher up after low is in https://t.co/u6sFHpzPH1 pic.twitter.com/6BbfmB6VRY

— TraderSZ (@trader1sz) July 25, 2022

The views and opinions expressed here are solely those of the author and do not necessarily reflect the views of Cointelegraph.com. Every investment and trading move involves risk, you should conduct your own research when making a decision.

Read Entire Article
Tags: CointelegraphCryptocurrencyInvestmentMining Bitcoin
Share76Tweet47

Related Posts

Nigeria to tax crypto, digital assets 10% on capital gains: Experts react

Nigeria to tax crypto, digital assets 10% on capital gains: Experts react

by Jon Hartney
June 10, 2023
0

The Act aims to enhance fiscal transparency, boost revenue and recognize cryptocurrencies as legitimate assets

Ooki DAO to shut down after ‘precedent setting’ court battle with CFTC

Ooki DAO to shut down after ‘precedent setting’ court battle with CFTC

by Jon Hartney
June 10, 2023
0

The CFTC highlighted that “critically, in a precedent-setting decision” the Ooki DAO was held in court as

Scammers steal nearly $1M after hijacking 8+ prominent crypto twitter accounts

Scammers steal nearly $1M after hijacking 8+ prominent crypto twitter accounts

by Jon Hartney
June 10, 2023
0

The group of scammers have recently taken over accounts belonging to the founder of Pudgy Penguins, the CTO of OpenAI

SEC charges against Binance and Coinbase are terrible for DeFi

SEC charges against Binance and Coinbase are terrible for DeFi

by Jon Hartney
June 10, 2023
0

The SEC’s charges against Binance and Coinbase could have far-reaching consequences for decentralized finance

Robinhood will end support for 3 tokens named in SEC lawsuits

Robinhood will end support for 3 tokens named in SEC lawsuits

by Jon Hartney
June 9, 2023
0

The company cited the SEC’s actions against Coinbase and Binance as reasons for the delisting, saying the lawsuits

Load More
  • Trending
  • Comments
  • Latest
NEXO risks 50% drop due to regulatory pressure and investor concerns

NEXO risks 50% drop due to regulatory pressure and investor concerns

September 30, 2022
51% of Ethereum blocks are now compliant with OFAC standards, raising censorship concerns

51% of Ethereum blocks are now compliant with OFAC standards, raising censorship concerns

October 14, 2022
All aboard! Elon Musk’s Vegas Loop now taking Dogecoin payments

All aboard! Elon Musk’s Vegas Loop now taking Dogecoin payments

July 7, 2022
Zero-knowledge KYC could solve the privacy vs compliance conundrum: VC partner

Zero-knowledge KYC could solve the privacy vs compliance conundrum: VC partner

October 11, 2022
All aboard! Elon Musk’s Vegas Loop now taking Dogecoin payments

All aboard! Elon Musk’s Vegas Loop now taking Dogecoin payments

0
Crypto owners banned from working on US Government crypto policies

Crypto owners banned from working on US Government crypto policies

0
Korean startup Uprise lost $20M shorting LUNC

Korean startup Uprise lost $20M shorting LUNC

0
Ethereum testnet Merge mostly successful — ‘Hiccups will not delay the Merge.’

Ethereum testnet Merge mostly successful — ‘Hiccups will not delay the Merge.’

0
Nigeria to tax crypto, digital assets 10% on capital gains: Experts react

Nigeria to tax crypto, digital assets 10% on capital gains: Experts react

June 10, 2023
Ooki DAO to shut down after ‘precedent setting’ court battle with CFTC

Ooki DAO to shut down after ‘precedent setting’ court battle with CFTC

June 10, 2023
Scammers steal nearly $1M after hijacking 8+ prominent crypto twitter accounts

Scammers steal nearly $1M after hijacking 8+ prominent crypto twitter accounts

June 10, 2023
SEC charges against Binance and Coinbase are terrible for DeFi

SEC charges against Binance and Coinbase are terrible for DeFi

June 10, 2023

XBT.Market

This website is an automated news feed powered by the Nebulome cloud system. The site is made possible by YYC TECH Consulting and Alberta Digital Mining Company. As a team with major crypto and bitcoin enthusiasm, we have curated major sources of news, trading and financial data to bring you, our viewer, an unbiased source of truth.

Recent Posts

  • Nigeria to tax crypto, digital assets 10% on capital gains: Experts react June 10, 2023
  • Ooki DAO to shut down after ‘precedent setting’ court battle with CFTC June 10, 2023
  • Scammers steal nearly $1M after hijacking 8+ prominent crypto twitter accounts June 10, 2023
  • SEC charges against Binance and Coinbase are terrible for DeFi June 10, 2023
  • Robinhood will end support for 3 tokens named in SEC lawsuits June 9, 2023

News Categories

  • Bitcoin
  • Blockchain
  • Business
  • Market

Tags

bitcoinMagzine Cointelegraph Cryptocurrency insidebitcoins Investment Mining Bitcoin NewsBTC

Quicklinks

  • Home
  • Coins MarketCap
  • Crypto Exchanges
  • Crypto Calculator
  • Top Gainers and Loser
  • News
  • Contact Us

© 2022 Xbt.Market - Powered by YYC Tech Consulting & ADMCO.

No Result
View All Result
  • Home
  • Coins MarketCap
  • Crypto Exchanges
  • Crypto Calculator
  • Top Gainers and Loser
  • News
  • Contact Us

© 2022 Xbt.Market by Nebulome.

  • bitcoinBitcoin(BTC)$25,669.00-3.68%
  • ethereumEthereum(ETH)$1,739.46-5.71%
  • USDEXUSDEX(USDEX)$1.07-0.53%
  • tetherTether(USDT)$1.000.03%
  • binancecoinBNB(BNB)$237.52-8.66%
  • usd-coinUSD Coin(USDC)$1.00-0.03%
  • rippleXRP(XRP)$0.494226-6.64%
  • staked-etherLido Staked Ether(STETH)$1,738.27-5.74%
  • cardanoCardano(ADA)$0.239244-24.40%
  • dogecoinDogecoin(DOGE)$0.059762-12.24%
  • tronTRON(TRX)$0.068257-12.39%
  • solanaSolana(SOL)$14.66-22.69%
  • litecoinLitecoin(LTC)$76.87-12.91%
  • polkadotPolkadot(DOT)$4.44-11.56%
  • matic-networkPolygon(MATIC)$0.58-26.78%
  • binance-usdBinance USD(BUSD)$1.000.13%
  • daiDai(DAI)$1.000.08%
  • wrapped-bitcoinWrapped Bitcoin(WBTC)$25,667.00-3.69%
  • avalanche-2Avalanche(AVAX)$11.44-17.71%
  • shiba-inuShiba Inu(SHIB)$0.000006-18.95%
  • leo-tokenLEO Token(LEO)$3.52-1.06%
  • uniswapUniswap(UNI)$3.96-14.16%
  • chainlinkChainlink(LINK)$5.06-15.47%
  • okbOKB(OKB)$41.64-7.48%
  • Aerarium FiAerarium Fi(AERA)$7.14-13.11%
  • moneroMonero(XMR)$136.63-4.44%
  • cosmosCosmos Hub(ATOM)$7.79-16.55%
  • ToncoinToncoin(TON)$1.48-12.12%
  • stellarStellar(XLM)$0.080827-7.36%
  • ethereum-classicEthereum Classic(ETC)$14.49-14.96%
  • true-usdTrueUSD(TUSD)$1.00-0.13%
  • bitcoin-cashBitcoin Cash(BCH)$100.07-9.84%
  • internet-computerInternet Computer(ICP)$3.77-10.48%
  • lido-daoLido DAO(LDO)$1.83-17.62%
  • quant-networkQuant(QNT)$103.52-5.78%
  • filecoinFilecoin(FIL)$3.37-17.79%
  • GGTKNGGTKN(GGTKN)$0.1121180.75%
  • hedera-hashgraphHedera(HBAR)$0.043681-11.13%
  • crypto-com-chainCronos(CRO)$0.051349-12.09%
  • ArbitrumArbitrum(ARB)$1.01-11.45%
  • AptosAptos(APT)$5.97-22.60%
  • nearNEAR Protocol(NEAR)$1.22-14.06%
  • vechainVeChain(VET)$0.014844-14.29%
  • paxos-standardPax Dollar(USDP)$1.00-0.11%
  • fraxFrax(FRAX)$1.000.06%
  • EdgecoinEdgecoin(EDGT)$1.00-0.03%
  • BSCEXBSCEX(BSCX)$238.7567.75%
  • apecoinApeCoin(APE)$2.33-19.81%
  • the-graphThe Graph(GRT)$0.095994-14.59%
  • rocket-poolRocket Pool(RPL)$43.90-7.91%
  • Rocket Pool ETHRocket Pool ETH(RETH)$1,868.23-5.70%
  • algorandAlgorand(ALGO)$0.107307-13.87%
  • elrond-erd-2MultiversX(EGLD)$30.20-13.31%
  • render-tokenRender(RNDR)$2.08-9.51%
  • aaveAave(AAVE)$52.52-12.40%
  • eosEOS(EOS)$0.68-24.48%
  • usddUSDD(USDD)$1.00-0.10%
  • the-sandboxThe Sandbox(SAND)$0.379222-21.73%
  • optimismOptimism(OP)$1.09-21.23%
  • blockstackStacks(STX)$0.52-17.28%
  • WhiteBIT TokenWhiteBIT Token(WBT)$4.72-2.21%
  • Bitget TokenBitget Token(BGB)$0.481784-1.47%
  • tezosTezos(XTZ)$0.71-14.77%
  • fantomFantom(FTM)$0.238090-19.36%
  • BitDAOBitDAO(BIT)$0.442583-7.73%
  • theta-tokenTheta Network(THETA)$0.64-16.97%
  • radixRadix(XRD)$0.062053-7.88%
  • CloutContractsCloutContracts(CCS)$52.461,000.00%
  • decentralandDecentraland(MANA)$0.338160-19.68%
  • kucoin-sharesKuCoin(KCS)$6.32-6.51%
  • immutable-xImmutableX(IMX)$0.60-17.73%
  • gemini-dollarGemini Dollar(GUSD)$1.00-0.08%
  • axie-infinityAxie Infinity(AXS)$4.91-21.11%
  • havvenSynthetix Network(SNX)$1.78-13.82%
  • curve-dao-tokenCurve DAO(CRV)$0.64-15.55%
  • makerMaker(MKR)$590.92-5.78%
  • neoNEO(NEO)$7.44-18.64%
  • flowFlow(FLOW)$0.499906-20.40%
  • gatechain-tokenGate(GT)$3.70-10.00%
  • terra-lunaTerra Luna Classic(LUNC)$0.000087-10.91%
  • marumaruNFTmarumaruNFT(MARU)$0.24991121.40%
  • bittorrentBitTorrent(BTT)$0.000001-2.00%
  • galaGALA(GALA)$0.020642-20.14%
  • pax-goldPAX Gold(PAXG)$1,909.87-1.17%
  • tether-goldTether Gold(XAUT)$1,961.15-0.16%
  • xdce-crowd-saleXDC Network(XDC)$0.034649-4.18%
  • injective-protocolInjective(INJ)$5.95-15.48%
  • bitcoin-cash-svBitcoin SV(BSV)$24.66-18.26%
  • binaryxBinaryX(BNX)$165.90-5.97%
  • Tokenize XchangeTokenize Xchange(TKX)$5.71-7.32%
  • compound-ethercETH(CETH)$34.93-5.74%
  • klay-tokenKlaytn(KLAY)$0.146651-11.42%
  • casper-networkCasper Network(CSPR)$0.041127-6.52%
  • Halo CoinHalo Coin(HALO)$0.057345-0.05%
  • kavaKava(KAVA)$0.79-17.67%
  • huobi-tokenHuobi(HT)$2.68-6.11%
  • iotaIOTA(MIOTA)$0.152466-14.68%
  • PepePepe(PEPE)$0.000001-15.91%
  • gmxGMX(GMX)$45.21-12.48%
  • compound-usd-coincUSDC(CUSDC)$0.0228830.08%