Bitcoin's price experienced significant volatility last week, particularly around the US Federal Reserve's latest FOMC meeting. Despite this, the leading cryptocurrency managed to regain some ground, recovering from a multi-month low of $56,500 to trade around $63,000. This recovery occurred despite a substantial decline in the network's difficulty.

In other market news, Binance continues to face regulatory challenges. The exchange is currently in a dispute with the Nigerian government and has been fined by Canadian authorities for insufficient anti-money laundering policies.

Despite these challenges, the overall market outlook remains positive. Toncoin, for example, saw a massive 30% surge, standing out among mid-cap alts like NEAR, FET, and RNDR, which also posted notable gains.

In terms of network milestones, Bitcoin's blockchain has now processed over one billion transactions, marking a significant achievement despite recent price fluctuations.

However, regulatory uncertainties persist, with the Biden administration reportedly opposing a bill that would allow US banks to custody cryptocurrencies. As the market continues to evolve, these developments underscore the importance of regulatory clarity for the industry's future growth.