[Bitcoin Now] Falls to $25,000 Range Amid SEC Regulation... Investor Sentiment 'Neutral'

Due to regulatory repercussions from the U.S. Securities and Exchange Commission (SEC), the price of the leading cryptocurrency Bitcoin has dropped to the $25,000 range.

Image source=Reuters·Yonhap News

According to CoinMarketCap, a global cryptocurrency market tracking site, as of 3:54 PM on the 11th, the price of Bitcoin was recorded at $25,799 (approximately 33.37 million KRW), up 0.86% from the previous day. Around 1 PM the previous day, the price was still in the $26,300 range but then plunged to the $25,000 range. Compared to a week ago, Bitcoin’s price has fallen by 4.88%.

Recently, the SEC filed a lawsuit against Binance, the world’s largest cryptocurrency exchange, and its CEO Changpeng Zhao on charges including investor fund misappropriation and operating as an unregistered broker. The SEC also requested an emergency freeze of Binance’s assets within the U.S. Additionally, the SEC filed a lawsuit against Coinbase, determining that although it earned billions of dollars through cryptocurrency dealings, it violated securities laws by evading disclosure obligations meant to protect investors.

Cryptocurrency trading platform Robinhood’s announcement that it will suspend trading support for altcoins such as Cardano, Solana, and Polygon starting from the 27th, in compliance with SEC regulations, also appears to have influenced the price decline.

Meanwhile, cryptocurrency investor sentiment remains neutral. According to Alternative, a cryptocurrency data provider, the Fear & Greed Index representing investor sentiment was 47 points (neutral) on this day, down 2 points from the previous day. Compared to 52 points (neutral) a week ago, it dropped by 5 points. Alternative’s Fear & Greed Index ranges from 0, indicating extreme fear and pessimism about investing, to 100, indicating strong optimism.

This content was produced with the assistance of AI translation services.