Cryptocurrencies are on hold for this date
The SEC’s Chairman Gary Gensler’s stance and harsh moves towards the cryptocurrency market caused a slight pullback of cryptocurrencies yesterday.
With the Shapella update on Ethereum last week, the crypto market, which renewed the records for 2023 and started the new week quite calmly, caused withdrawals on the news that the SEC filed a lawsuit against Bitterex and its former CEO. Bitterex, which was sued for violating the law and operating an unregistered exchange, also used the term securities for OMG, DASH, ALGO, NGC, IHT and TKN. SEC Chairman Gary Gensler, who has been taking some tough steps in the crypto market recently, faced the danger of losing his seat after criticism. Warren Davidson, a US congressman and crypto friend, announced that he will propose a bill to impeach SEC Chairman Gensler.
Bitcoin and Ethereum have been going up and down
Although Bitcoin retreated by around 3% yesterday with the news flows, it shows activity at the level of $ 29730 with the recovery in this morning. Ethereum, on the other hand, outperforms Bitcoin, reversing yesterday's 2% drop this morning and finding buyers at $2100 levels. The total value of the cryptocurrency market is moving over $1.22 trillion with the recovery. While the pullback in Bitcoin dominance continues, the rise in Ethereum dominance continues, while altcoins continue their small rises. In some altcoins, more positive divergence draws attention. BEL, JOE and COTI stand out as the most profitable cryptocurrencies of the day with double-digit earnings.
Today, SEC Chairman Gensler's speech to the US Financial Services Committee on crypto regulations will be on our radar. Also, the European Parliament will hold a meeting on the crypto law MiCA. Along with this data that the crypto market will follow soon, Bank of America, Goldman Sachs and Silvergate earnings reports are the factors that can affect the market.
