A single digital currency in the green zone... Important news that heralds a violent rise in the market

Bitcoin attempted to cross the $38,000 mark again over the past 24 hours, but, as with previous attempts, it was stopped in its tracks. Bitcoin regained some of its gains by the end of the week and stood in a narrow range between $36,000 and $37,000 for the next few days. Despite its decline, Bitcoin is still trading at over $37,000 so far. Its market capitalization remained just under $730 billion, but its dominance in altcoins increased slightly to 51.7%.

A single digital currency in the green zone... Important news that heralds a violent rise in the market A single digital currency in the green zone... Important news that heralds a violent rise in the market | Author Sarah Al-Otaibi Published November 21, 2023 12:30 View all comments (1) Investing.com - Bitcoin tried to cross the $38,000 mark again in the past 24 hours, but, as with previous attempts, was stopped in its tracks. Bitcoin regained some of its gains by the end of the week and stood in a narrow range between $36,000 and $37,000 for the next few days. Despite its decline, Bitcoin is still trading at over $37,000 so far. Its market capitalization remained just under $730 billion, but its dominance in altcoins increased slightly to 51.7%. Your opinion matters to us. Help us improve Investing Pro’s distinguished service through this survey. Click here Perhaps the most notable news yesterday, aside from the recent SEC lawsuit against Kraken, involved Binance. Reports have emerged that the company may reach a settlement with US regulators for a staggering $4 billion. Although this is a huge number, the news had a positive impact on Binance, which jumped on the news. This indicates that those betting on the decline of crypto or its exposure to future strikes from regulators have no place now with the reaching of this settlement, even with the targeting of another crypto platform such as Kraken, as the matter may end as happened with Binance and some settlement will be reached. Binance Coin has lost some momentum since then, but is still up 4.5% on the day and is the only significant value altcoin in the green right now. This increase is due to the Department of Justice requesting more than $4 billion from Binance in a proposed deal. This proposal is part of a comprehensive investigation into alleged money laundering violations, bank fraud and sanctions violations. These negotiations are considered pivotal in shaping the regulatory landscape for Binance and the crypto market in general. If a settlement is reached, the digital currency market may witness a significant revival with the end of regulatory obstacles.