Bitcoin, BONK & SEC – European Wrap 19 January
Bitcoin price continued its decline closer to $41,000 on Friday. At the time of writing, BTC price is $41,148. Institutions like Tether and MicroStrategy are keen on BTC accumulation and the largest cryptocurrency’s ETFs have dethroned Silver as the second largest commodity.
BONK price is reinforcing the bearish narrative for the meme coin market after disappointing runs from Dogecoin and Shiba Inu. The lack of growth has already stumped investors, and the ones optimistic about witnessing a recovery are being shot down by the bearish market conditions.
The latest development in the SEC v. Binance lawsuit is that Federal Judge Amy Berman Jackson has ordered a court review of whether digital assets and staking products are securities.