{"id":19223,"date":"2023-03-28T13:04:23","date_gmt":"2023-03-28T13:04:23","guid":{"rendered":"https:\/\/crowdfundjunction.com\/blog\/btc-moves-below-27000-following-cftc-suit-against-binance-market-updates-bitcoin-news\/"},"modified":"2023-03-28T13:04:23","modified_gmt":"2023-03-28T13:04:23","slug":"btc-moves-below-27000-following-cftc-suit-against-binance-market-updates-bitcoin-news","status":"publish","type":"post","link":"https:\/\/crowdfundjunction.com\/blog\/btc-moves-below-27000-following-cftc-suit-against-binance-market-updates-bitcoin-news\/","title":{"rendered":"BTC Moves Below $27,000, Following CFTC Suit Against Binance \u2013 Market Updates Bitcoin News"},"content":{"rendered":"

(Originally posted on : Bitcoin News )<\/b>
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Bitcoin moved below $27,000 during Tuesday\u2019s session, as the U.S. Commodity Futures Trading Commission (CFTC) filed a lawsuit against Binance. The suit claims that Binance knowingly offered unregistered crypto products to U.S. customers. Ethereum was also lower on the news, briefly falling below $1,700.<\/strong><\/p>\n

Bitcoin<\/h2>\n

Bitcoin (BTC<\/a>) fell below $27,000 in today\u2019s session, as markets reacted to the news that the CFTC had filed a lawsuit against Binance.<\/p>\n

BTC<\/a>\/USD fell to an intraday low of $26,606.69 on the news, which comes a day after trading at a peak of $27,979.07.<\/p>\n

As a result of today\u2019s sell-off, the world\u2019s largest cryptocurrency fell to its lowest level since March 17.<\/p>\n

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BTC<\/a>\/USD \u2013 Daily Chart<\/figcaption><\/figure>\n

Looking at the chart, this drop comes after a recent floor at the $27,100 mark was broken, which coincided with the relative strength index (RSI) also experiencing a breakout.<\/p>\n

As of writing, the index is now tracking at the 58.51 level, which is marginally below its support at 60.00.<\/p>\n

Overall, bulls have somewhat reentered the market, and as of writing, bitcoin is trading at $27,126.85.<\/p>\n

Ethereum<\/h2>\n

Ethereum (ETH<\/a>) also moved lower on Tuesday, after nearly climbing back above $1,800 to start the week.<\/p>\n

Following a high of $1,797.88 on Monday, ETH<\/a>\/USD dropped to a bottom at $1,690.52 earlier in today\u2019s session.<\/p>\n

Similar to bitcoin, this decline sent ethereum to its weakest point since March 17, when prices fell to a floor at $1,666.<\/p>\n

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ETH<\/a>\/USD \u2013 Daily Chart<\/figcaption><\/figure>\n

The drop comes following a drop in price strength, which saw the RSI move to its lowest level in two weeks.<\/p>\n

As of writing, the index has now bounced back from this floor at 51.00, and is currently tracking at 54.50.<\/p>\n

Overall, ETH<\/a> is down 1.52% over the last seven-days.<\/p>\n

Register your email here to get weekly price analysis updates sent to your inbox:<\/em><\/p>\n

Could this CFTC lawsuit be applied to other cryptocurrency exchanges? Leave your thoughts in the comments below.<\/strong><\/em><\/p>\n

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\nEliman Dambell <\/h6>\n

\nEliman was previously a director of a London-based brokerage, whilst also an online trading educator. Currently, he commentates on various asset classes, including Crypto, Stocks and FX, whilst also a startup founder.

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Image Credits<\/b>: Shutterstock, Pixabay, Wiki Commons, Aleksandr Khmeliov \/ Shutterstock.com<\/em><\/p>\n

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Disclaimer<\/strong>: This article is for informational purposes only. It is not a direct offer or solicitation of an offer to buy or sell, or a recommendation or endorsement of any products, services, or companies. Bitcoin.com<\/a> does not provide investment, tax, legal, or accounting advice. Neither the company nor the author is responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods or services mentioned in this article.<\/p>\n<\/div>\n

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