Bitcoin Retains Stability Amid SEC’s Intensified Pressure on Crypto Market

Despite the increased pressure by the US Securities and Exchange Commission (SEC), Bitcoin (BTC), the largest cryptocurrency, has managed to relatively maintain its stability. Currently, BTC is trading above the critical 200-day Exponential Moving Average (EMA) on the daily price chart, in addition to a support level above $25,000. Bitcoin’s Market Dominance Increases According to Chinese Blockchain journalist Wu Blockchain, the recent fall of altcoins and the relative stability of Bitcoin have brought the market dominance rate of the largest cryptocurrency close to 50%, a level not seen since April 2021. Past data reveals that during the bear markets of 2018 and 2022, BTC’s market dominance soared to 69%, staying above 50% for an extended period. This stable outlook, though commendable for a volatile asset class, could lead to an increase in volatility, especially if the current support at $25,000 weakens. Altcoins Stagger as SEC Pressure Intensifies The US regulator, […] The post Bitcoin Retains Stability Amid SEC’s Intensified Pressure on Crypto Market appeared first on COINTURK NEWS.