Disclaimer: The information presented does not constitute financial, investment, trading, or other types of advice and is solely the writer’s opinion.

• Binances’ legal woes saw BTC plunge to the $25k level.
• The downswing has cut supply on profit from 69% to 62.5%. 

The US continued to pile regulatory pressure on cryptocurrencies, with Binance Exchange on the radar again. After a previous CFTC filing in March, the US SEC filed 13 new charges on 5 June against Binance – the world’s largest crypto exchange. 

Is your portfolio green? Check out the BTC Profit Calculator

Bitcoin [BTC] reacted negatively to the development, dropping below $26k and setting a new low in Q2. 

Recent price fluctuations below $27k have seen more BTC transactions in loss as uncertainty makes holders uneasy. At press time, the crypto “Fear and Greed” index was “Fear,” denoting that investors were worried about the market. 

BTC retreats towards 50% Fib level

A Fibonacci retracement tool (yellow) was placed between the recent swing high ($31k) and the swing low ($19.5k). Since hitting a new

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Author: Suzuki Shillsalot

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