Bitcoin Eyes $26k As Market Seeks To Recover From Recent Slump

TL;DR

• Bitcoin has defended the $25k support level despite the recent FUD.

• The leading cryptocurrency could move past the $26k resistance mark in the coming hours.

BTC Stays Above $25k Despite Recent FUD

Bitcoin has maintained its value above $25k in recent days despite the negative news surrounding Binance and Coinbase during that period.

Binance and Coinbase, the two largest cryptocurrency exchanges in the world, are currently under fire from regulators in the United States.

The US SEC sued both Binance and Coinbase last year for breaching securities laws in the country. The regulatory agency is seeking to freeze Binance.US assets, and the crypto exchange has now transitioned into an all-crypto exchange, eliminating fiat deposits on its platform.

Despite the recent troubles, Bitcoin continues to trade above the $25k level. The leading cryptocurrency by market cap lost more than 3% of its value last week, but investors ensured that the coin was trading above $25k.

At press time, BTC is trading above $25,800 and could enter the $26k region over the next few hours. The market sentiment so far today has been positive, with other leading cryptocurrencies also trading in the green zone.

The total cryptocurrency market cap risks dropping below $1 trillion for the first time in weeks. The total cryptocurrency market cap currently stands at $1.05 trillion, down by less than 1% today.