Gary Gensler’s SEC Move Towards Binance and Coinbase Poses Turning Point for Bitcoin

The action of the U.S. Securities and Exchange Commission (SEC), chaired by crypto opponent Gary Gensler, against Binance and Coinbase, the two largest crypto exchanges, is pushing Bitcoin price towards a pivotal point. Investors are expecting Bitcoin (BTC) and Ethereum (ETH) prices to move sideways for at least a week. Bitcoin seems to be preparing for a rally despite lawsuits against Binance and Coinbase, forthcoming CPI and PPI data, the Fed’s interest rate decision next week, and the issuance of bonds by the U.S. Treasury. Bitcoin Price Nears Turning Point Bitcoin’s price bounced off the 200-week simple moving average on the weekly timeframe. The formation of a triangle pattern between the descending resistance trend line and the horizontal support line indicates that the BTC price could explode upwards at any moment. This triangle formation also suggests that the leading cryptocurrency will mostly move sideways in the coming weeks. It is […] The post Gary Gensler’s SEC Move Towards Binance and Coinbase Poses Turning Point for Bitcoin appeared first on COINTURK NEWS.