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After the new guidance from the SEC and CFTC, we are facing an interesting situation in the live crypto market. Bitcoin’s attempt to break the 75 thousand dollar level doesn’t seem to meet expectations. BTC, which is currently trading around $71,450, seems to need stronger momentum to keep this level.
As far as I’ve been monitoring, the regulatory bodies’ clarifications are creating mixed signals in the market. Some investors view this positively, but there is still uncertainty. Price movements continue to be a bit inconsistent, which makes those trading in the live crypto market uneasy.
At this point, Bitcoin needs stronger participation to be able to get past $75,000. For now, the $71,000 level plays the role of a support level. We should keep following developments, because when the regulatory environment becomes clearer, it could determine the market’s direction.