CryptoMediaClub
Monday, July 7, 2025
  • All news
  • Bitcoin
  • Ethereum
  • Altcoins
  • NFT
  • Blockchain
  • Analysis
No Result
View All Result
  • All news
  • Bitcoin
  • Ethereum
  • Altcoins
  • NFT
  • Blockchain
  • Analysis
No Result
View All Result
CryptoMediaClub
No Result
View All Result
Home Bitcoin

Bitcoin retracing? Here are the odds of it returning to $28K

19.04.2023
A A
0
125
VIEWS
ShareShare

In today’s Market Report episode, analyst and writer Marcel Pechman covers the regulatory environment that has been limiting Bitcoin’s (BTC) upside and the odds of a dump at $28,000. The show airs every Tuesday on the Cointelegraph Markets & Research YouTube channel.

The first news article discussed is crypto exchange Bittrex and its founder being charged by the SEC. More importantly, United States Securities and Exchange Commission Enforcement Division Director Gurbir Grewal said that such “action should also send a message to other non-compliant crypto market intermediaries.”

In Pechman’s opinion, that’s an explicit reference to Binance, Bybit and OKX, which have notoriously taken U.S. clients through VPN and other evasive strategies. Marcel does not believe that the SEC has a case besides a multimillion-dollar fine and forcing Bittrex to shut down operations in the U.S.

On to the show’s next topic, Pechman discusses the U.S. Congress draft stablecoin bill. The scary part? Failure to register as an issuer could result in up to five years in prison. Moreover, according to the draft bill, “issuers out of the U.S. would have to seek registration to do business in the country.”

The proposal also places a “two-year ban on issuing, creating, or originating stablecoins not backed by tangible assets.” In Pechman’s view, there’s a clear statement: Legislators do not want algorithmic-backed stablecoins or any operation that is not backed by U.S. dollars or U.S.-denominated, short-term bonds.

But, according to Pechman, there is no reason to panic-sell any stablecoin solely based on this. Sure, there could be impacts for Tether (USDT) and Dai (DAI), but that is subject to voting and court rulings.

In the last part of The Market Report, Pechman argues whether the U.S. court has any real power over Justin Sun, Tron’s founder. Pechman illustrates why this move shows desperation by regulators and how coincidental it is that multiple agencies are pressing charges on crypto businesses and payment processors over five years after their launch.

Given the extreme regulatory FUD scenario, Pechman would not be surprised if Bitcoin retests the $28,000 level.

The Market Report airs every Tuesday, so be sure to head on over to the Cointelegraph Markets & Research YouTube page and smash those Like and Subscribe buttons for all our future videos and updates.

Share10Tweet6ShareSharePin2

Related Posts

Crypto Fear & Greed Index Soars to 73: Unpacking the Market’s Bullish Confidence
Bitcoin

Crypto Fear & Greed Index Soars to 73: Unpacking the Market’s Bullish Confidence

03.07.2025
0

BitcoinWorldCrypto Fear & Greed Index Soars to 73: Unpacking the Market’s Bullish Confidence The pulse of the digital asset world...

Read moreDetails
Bitcoin Treasury Strategy Unlocks $24.75 Million for Green Minerals’ Ambitious Growth

Bitcoin Treasury Strategy Unlocks $24.75 Million for Green Minerals’ Ambitious Growth

02.07.2025
Celsius Lawsuit: Judge Unleashes Crucial Legal Battle Against Tether Over $4 Billion Bitcoin Liquidation

Celsius Lawsuit: Judge Unleashes Crucial Legal Battle Against Tether Over $4 Billion Bitcoin Liquidation

02.07.2025
Bitcoin’s Momentum Challenge: Why the Epic BTC Rally Faces Profit-Taking Pressures

Bitcoin’s Momentum Challenge: Why the Epic BTC Rally Faces Profit-Taking Pressures

01.07.2025
Bitcoin’s Astonishing Evolution: A New Trading Pattern Emerges

Bitcoin’s Astonishing Evolution: A New Trading Pattern Emerges

01.07.2025
Load More
Next Post
Coinbase may face years-long court battle with SEC, CEO warns: Report

Coinbase may face years-long court battle with SEC, CEO warns: Report

0 0 votes
Рейтинг статьи
Subscribe
Notify of
guest
guest
0 комментариев
Oldest
Newest Most Voted
Inline Feedbacks
View all comments

Recommended

Bitcoin Price Analysis: Volatility Surges – What Technical Price Levels Are Traders Watching?

Bitcoin Price Analysis: Volatility Surges – What Technical Price Levels Are Traders Watching?

2 weeks ago
Crypto bull run: Traders share their plans for the ‘tornado’ to come

Crypto bull run: Traders share their plans for the ‘tornado’ to come

2 years ago
Bitcoin Slumps Below $29,000, Wiping Nearly $100 Million in Liquidations

Bitcoin Slumps Below $29,000, Wiping Nearly $100 Million in Liquidations

2 years ago
Ripple Labs Commits Additional $5M to Boost Blockchain Research in Asia-Pacific

Ripple Labs Commits Additional $5M to Boost Blockchain Research in Asia-Pacific

4 weeks ago

Categories

  • All news
  • Altcoins
  • Analysis
  • Bitcoin
  • Blockchain
  • Ethereum
  • NFT
No Result
View All Result

Highlights

Ethereum Price Prediction: ETH Holds Narrow Range as ETF Demand Builds – Is a Breakout Near?

Mercado Bitcoin to Tokenize $200M in RWAs on XRP Ledger, Ripple Reveals

XRP Price Prediction: Is Consolidation Over? Crypto Michael’s Chart Hints at Explosive Move

Bitcoin Price Prediction: Post-$50B Whale Dump, BTC Price Holds Steady – Can Institutional Control Drive New Highs?

Why Snaky Way’s $AKE Token Is More Than Just a Meme Coin, Presale Ongoing

Ripple (XRP) Holders Achieve Financial Freedom by Starting Dogecoin (DOGE) Mining Machines through Blockchain Cloud Mining

Trending

Russian Ministry Starts Compiling National Registry of Crypto Mining Rigs
All news

Russian Ministry Starts Compiling National Registry of Crypto Mining Rigs

07.07.2025
0

The Russian Energy Ministry has begun compiling a national registry of crypto mining rigs as it looks...

Brazil’s Central Bank Hack Sparks $40M Crypto Laundering in BTC, ETH

Brazil’s Central Bank Hack Sparks $40M Crypto Laundering in BTC, ETH

07.07.2025
Drake Compares Love Life to Bitcoin Price Swings in New Lyrics

Drake Compares Love Life to Bitcoin Price Swings in New Lyrics

06.07.2025
Ethereum Price Prediction: ETH Holds Narrow Range as ETF Demand Builds – Is a Breakout Near?

Ethereum Price Prediction: ETH Holds Narrow Range as ETF Demand Builds – Is a Breakout Near?

06.07.2025
Mercado Bitcoin to Tokenize $200M in RWAs on XRP Ledger, Ripple Reveals

Mercado Bitcoin to Tokenize $200M in RWAs on XRP Ledger, Ripple Reveals

06.07.2025
  • All news
  • Altcoins
  • Bitcoin
  • Blockchain
  • Ethereum
  • NFT
  • Analysis
Editor: cryptomediaclub.com@gmail.com
Advertising: digestmediaholding@gmail.com

Disclaimer: Information found on CryptoMediaClub is those of writers quoted. It does not represent the opinions of CryptoMediaClub on whether to sell, buy or hold any investments. You are advised to conduct your own research before making any investment decisions. Use provided information at your own risk.
CryptoMediaClub covers fintech, blockchain and Bitcoin bringing you the latest crypto news and analyses on the future of money.

© 2023 Crypto News. All Rights Reserved

No Result
View All Result
  • All news
  • Bitcoin
  • Ethereum
  • Altcoins
  • NFT
  • Blockchain
  • Analysis

Disclaimer: Information found on CryptoMediaClub is those of writers quoted. It does not represent the opinions of CryptoMediaClub on whether to sell, buy or hold any investments. You are advised to conduct your own research before making any investment decisions. Use provided information at your own risk.
CryptoMediaClub covers fintech, blockchain and Bitcoin bringing you the latest crypto news and analyses on the future of money.

© 2023 Crypto News. All Rights Reserved

wpDiscuz