Why are regulators targeting Coinbase, and why have BTC and ETH fallen again?
A U.S. advocacy group has put Coinbase’s CEO and another company in the spotlight, and the crypto industry could be in for a shake-up. BTC and ETH are now struggling around $67K and $1.9K.
The organization Groundwork Collaborative has put forward a crypto regulation plan, naming Coinbase CEO Brian Armstrong and a company called World Liberty Financial. They believe crypto companies with ties to Trump are getting too much attention, while regulation is still insufficient. Put simply, they want to push for greater transparency in the crypto industry. As a major player, Coinbase has naturally become a target. Crypto Briefing reported on the news.
Impact on the market
- Short term: This has spooked the market a bit, sending BTC and ETH down with it. We’ll see whether they can hold at $67,250.73 and $1,898.04. Investors are probably seeking safe havens again.
- Medium term: If this becomes a real regulatory trend, all crypto companies will need to take action, or they could be singled out. The industry landscape may be reshuffled.
My take
Bearish for now. The regulatory winds are blowing the wrong way. Around $67K is an important support level for BTC, and $1.9K is similar for ETH. But don’t be too optimistic: if they can’t hold at $64K and $1.7K, the downtrend could really take hold. Don’t come down too hard on me if I’m wrong—I’m only trying this with a small position.
$BTC $ETH #BTC #ETH
⚠️ This is not investment advice
A U.S. advocacy group has put Coinbase’s CEO and another company in the spotlight, and the crypto industry could be in for a shake-up. BTC and ETH are now struggling around $67K and $1.9K.
The organization Groundwork Collaborative has put forward a crypto regulation plan, naming Coinbase CEO Brian Armstrong and a company called World Liberty Financial. They believe crypto companies with ties to Trump are getting too much attention, while regulation is still insufficient. Put simply, they want to push for greater transparency in the crypto industry. As a major player, Coinbase has naturally become a target. Crypto Briefing reported on the news.
Impact on the market
- Short term: This has spooked the market a bit, sending BTC and ETH down with it. We’ll see whether they can hold at $67,250.73 and $1,898.04. Investors are probably seeking safe havens again.
- Medium term: If this becomes a real regulatory trend, all crypto companies will need to take action, or they could be singled out. The industry landscape may be reshuffled.
My take
Bearish for now. The regulatory winds are blowing the wrong way. Around $67K is an important support level for BTC, and $1.9K is similar for ETH. But don’t be too optimistic: if they can’t hold at $64K and $1.7K, the downtrend could really take hold. Don’t come down too hard on me if I’m wrong—I’m only trying this with a small position.
$BTC $ETH #BTC #ETH
⚠️ This is not investment advice
