Bitcoin dropped below $ 26,000

Over the past 7 days, the value of bitcoin has dropped by 3.8%, all because of the lawsuits filed by US regulators against Binance and Coinbase that have hit the entire crypto industry. Today, on June 12, BTC $84,756.34 Mezo Wrapped BTC -6.80% Market capitalization $48.43 million VOL. 24 hours $2.27 billion started the week with another drop, dropping to 1.2%.

Currently, the flagship cryptocurrency is trading at $ 26,046, but in the morning, the HTC fell to $ 25,800. The crypto market capitalization is currently $ 1.09 billion, down 0.2% over the past 24 hours. The Bloomberg Galaxy Crypto 100 index is down almost 1%.

As for the main altcoin, the value of ETH $2,833.97 Bridged Ether (StarkGate) -6.68% Market capitalization $64.18 million VOL. 24 hours $1.34 billion decreased by 0.3% over the past day and by 7% over the week. The most affected were Binance Coin (BNB) and Cardano (ADA). BNB lost 23% in 7 days, currently trading at $ 235.2. ADA is down over 26% to $ 0.28. Cardano is involved in SEC lawsuits against Binance and Coinbase as a security. Therefore, a large collapse in the ADA price is expected.

The attractiveness of digital currencies is declining due to uncertainty over crypto regulation in the United States. Many representatives of the blockchain industry are calling on Washington to speed up and adopt a regulatory framework for this sector of the economy.

Stefan von Henisch, who heads the trading division at Singapore-based OSL SG Pte, believes that a strong resistance zone for bitcoin has formed at $ 26,000. Richard Galvin, co-founder of the Australian hedge fund DACM, has a different view. In his opinion, a small rebound after last weekend’s fall is unlikely to improve the situation in the crypto sphere. Any shock could trigger new sales and a pullback in BTC.