Bitcoin falls below $ 27,000 because market prices collide between Binance and CFTC (Market Watch)

Bitcoin falls below $ 27,000 because market prices collide between Binance and CFTC (Market Watch)

The cryptocurrency market received its fair share of bad news last year, but it doesn't seem to stop. Just yesterday, the Commodity and Futures Trading Commission of the USA submitted a lawsuit against the world's leading cryptocurrency exchange and its CEO.

The CFTC accuses Binance and Changpeng Zhao of violating many regulations. The market reacted and Bitcoin's price fell below $ 27,000.

Bitcoin falls below $ 27,000

At the time of writing this article, BTC is treated very close to $ 27,000. He managed to recover something after it had fallen on an intraday low of around $ 26.508 (at Binance).

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The step took place immediately after the CFTC had a massive lawsuit against Binane and its CEO - Changpeng Zhao - uncovered.

reports as cryptopotato , there are numerous allegations in the 74-page complaint, some of which have included that Binance has accepted orders and has made it easier to trade with several digital assets for customers in the USA, and so on.

The entire market trembles

Of course the entire market followed and lost a considerable part of its total capitalization. Altcoins are largely painted red, with the only remarkable exception Ripplei XRP.

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Of course, not all of the bad news does not have to be. Some cryptocurrencies have been able to develop quite well in the last 24 hours, as all of this subsided. Kaspas Kas-token has risen by 20 %, followed by Flares Flr (17 %).

At the other end of the spectrum, however, Arbitrum, which has decreased by 10 %, is followed by Mina and Mask, both of which have decreased by about 8 %.

All in all it was a very turbulent day, and it is interesting to see whether these were the full market effects of the CFTC lawsuit against Binance.

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