BTC Dips Below $64k as SEC Targets More Crypto Companies

TL;DR

• Bitcoin has lost 1% of its value in the last 24 hours and now trades below $64k.

• The dip came after the US SEC issued a Wells Notice to Robinhood Crypto.

BTC Now Trades Below $64k as SEC Goes After More Crypto Companies

Bitcoin is in the red zone despite experiencing a strong start to the week. The world’s leading cryptocurrency by market cap, has lost 1% of its value in the last 24 hours and now trades below $64k per coin.

At press time, Bitcoin’s price stands at $63,636. The poor performance came after news emerged that the US SEC had issued a Wells Notice to Robinhood Crypto, the cryptocurrency arm of Robinhood Markets.

The SEC has been going after cryptocurrency companies in recent months. Last month, decentralized exchange Uniswap, received a Wells Notice from the regulatory agency. Ethereum development studio Consensys also received a Wells Notice from the SEC last month.

Bitcoin’s poor performance also saw some altcoins record losses. Ether is down by over 3% in the last 24 hours and could drop below $3k if the bearish trend continues.

DOGE, TON, ADA, and XRP all trade in the red zone. However, SOL, Solana’s native coin, is up by 3% in the last 24 hours, making it the best performer amongst the top 10 cryptocurrencies by market cap.

The total cryptocurrency market cap has dipped by over 1% in the last 24 hours and now stands at $2.34 trillion.