Bitcoin returns to $ 40,000 despite wave of regulatory attention

It’s been a volatile week for Bitcoin-the largest cryptocurrency on the market. 

Monday June’s leading cryptocurrency, which reached $ 40,000 for the first time since mid-June, returned to that crucial threshold just two days later. Bitcoin reached $ 40,000 in the early hours of Wednesday before falling in price, but has since regained its main level.

Moreover, the leading cryptocurrency is benefiting from this rise despite the growing interest of regulators in the crypto field. Binance, the company’s largest stock exchange, for example, has wildly adjusted its position in several directions under pressure from global regulators. 

One recent change by Binance is to reduce high leverage trading by 125 to 20 times. traders who use leverage to trade can increase their rates by large amounts. Of course, the disadvantage can be multiplied briefly, resulting in a large decommissioning even among professional traders. 

The ftx crypto exchange, led by CEO Sam Bankman-freed, also reduced the amount of leverage users can use. 

Binance CEO Changpeng ” CZ “Zhao also sings about”a former CEO with strong regulatory and compliance experience.” 

We’re always hired by CEOs.

I don’t have to be CEO and I’m not going. I will always find ways to contribute to the community behind the tattooed logo on my forearm.

I am proud to be a member of the # Binance ecosystem. Let’s keep raising him.

– CZ Binance (@cz_binance)July 27, 2021

All of these moves appear to be a direct response to regulators around the world who want to clean up the crypto industry.

At a Senate Banking Committee hearing on Wednesday, U.S. Sen. Elizabeth Warren (D-MA) warned that “as cryptorynka grows, so do the risks to financial stability and the economy.”

Bitcoin markets show resistance
As capricious as speculators cryptocurrencies may be, there were certain market forces this week that helped Bitcoin reach $ 40,000 twice. Not Most

Join the Discussion

  • BrokerEUR/USD
    IG 0.6pips (fixed) margin: 3.33%
  • Back to top