Bitcoin's Resilience Amidst SEC Crackdown and Exchange Fallout

Bitcoin remains stable at $26.5K despite SEC lawsuits against Binance and Coinbase. The Federal Reserve may halt its year-long diet of interest rate hikes at its next FOMC meeting, according to Valkyrie Chief Investment Officer Steven McClurg. The DeFi market capitalization on the Ethereum ecosystem is down less than 2% since the beginning of the month. The probability that interest rates will remain at the current target rate of 5%-5.25% is 72.5%. Banking deposits totaling hundreds of billions of dollars left the US this year, and Switzerland has also seen a significant outflow to other jurisdictions where money is considered safer.