Hassan Maishera
TL;DR
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Bitcoin has lost 1% of its value in the last 24 hours and now trades below $64k.
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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.
