Bitcoin and Ethereum: Reacting to SEC’s Move and Market Volatility

Bitcoin and Ethereum, along with the whole cryptocurrency market, responded to the latest maneuver by the SEC. Following the noticeable decrease in trading activities triggered by the SEC’s recent action, a significant bounce back occurred. Rise in Bitcoin and Ethereum Volume After the announcement that Binance US and Coinbase are facing legal action, major cryptocurrencies, including Bitcoin and Ethereum, experienced a decline in both price and trading volume. This fall could be attributed to FUD as market participants observed the overall market reaction. However, following the initial drop on June 5, a significant resurgence in trading volume across the market was observed, leading to a renewed interest in dip buying and panic selling. Santiment data revealed that Bitcoin and Ethereum reached their highest monthly volume levels. Upon examining the chart, it is evident that Bitcoin’s volume surpassed 20 billion following the drop on June 4. Volume, which briefly dropped to […] The post Bitcoin and Ethereum: Reacting to SEC’s Move and Market Volatility appeared first on COINTURK NEWS.