The US Government Declares War on Crypto

Bitcoin Data Newsletter Premium Special Edition

Hello my friends!

Welcome to a special edition of the Bitcoin Data Newsletter Premium!

Yesterday on June 5th, the SEC announced it would be suing Binance for various law violations. Once again making the claim that select cryptos are labeled as securities and Binance is knowingly avoiding the law.

Then, today on June 6th, the SEC announced it would be suing Coinbase, under a similar premise.

The SEC governs and protects a fair market in the US, at least that is their proposed goal, but this seems to be an all out attack on the crypto market targeting the two largest crypto exchanges.

Along with this news came a sizeable drop in price of $2,000 from $27,000 to $25,000.

Bears would argue that this drop was inevitable, but I just don’t believe that is true.

This newsletter will be a brief update on my thoughts of this news event and the implications this has on the charts.