Bitcoin comes under pressure from regulators
Since the beginning of the week, Bitcoin has lost over 7%, reaching its lowest point since 17 March 2023. Its price dropped on news that the US Securities and Exchange Commission (SEC) has filed a suit against the crypto exchange Binance and its CEO, Changpeng Zhao. According to Glassnode, the cryptocurrency market's total market capitalisation has contracted by 3.6% to $1.13 trillion. The Fear & Greed Index dropped from 53 to 44 out of a total potential score of 100. This indicator demonstrates that crypto market participants are currently more inclined to sell their digital assets. Bitcoin will remain under pressure.
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