Bitcoin traders anticipate $24K price as market reacts to SEC vs. Binance lawsuit.
TL;DR Summary
Bitcoin traders are eyeing a recovery after the SEC sued Binance and its CEO, Changpeng “CZ” Zhao, over securities law violations. Traders are betting on a $24,000 BTC price as the market digests the news. Former BitMEX CEO Arthur Hayes suggested that sub-par crypto performance was tied directly to activity within the US economy, with the Treasury General Account increasing. Crypto long traders saw liquidations, which totaled just shy of $300 million on June 5.
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