Bitcoin hits $21,700 low as the SEC puts a halt to the crypto rally

Bitcoin hits $21,700 low as the SEC puts a halt to the crypto rally Bitcoin BTC Bitcoinprice

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Data provided by TradingView shows that the price of Bitcoin plunged below support at $22,500 following the announcement from the SEC, hitting a daily low of $21,700 in the late afternoon and looking primed to experience further losses.Evidence that BTC was on a path lower prior to the days' events was present in the Bitcoin futures data early on Thursday, which Kitco senior technical analyst Jim Wyckoff said was “a bit weaker and hit a three-week low in early U.S. trading.

The immediate question that arose for Lifchitz following this announcement was, “is Coinbase next? And if so, will all staking be forbidden in the U.S.?”

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