Bitcoin Slopes 10% Down to $28K Over a Week

• Bitcoin faces an abrupt downfall below $28K.
• However, Altcoins too facing a downward momentum.

As per yesterday’s reports, Bitcoin dropped over 3% in just 15 mins that led the cryptocurrency to fall below $30,000. The decline in price influenced market sentiment, and also $100M worth of bitcoins are liquidated to Binance. On Thursday, the European Parliament also passed a crypto legislation making it a positive move in the market. However, Bitcoin couldn’t see a price surge as before.

Cryptocurrency Movements In The Market

Several other altcoins including Ethereum (ETH), Polygon (MATIC), and Dogecoin (DOGE) started falling around 5% in the meantime. This Friday, when compared to the last 24hrs, BTC is down for the consecutive third day with a 3% fall, reaching $28,000. The popular bitcoin lost nearly 10% over a week whereas, the second popular cryptocurrency, ETH, has lost 8% considerably. 

The United States Securities and Exchange Commission (U.S. SEC) comes into the picture concerning the advisers and investors of crypto. In detail, the SEC recommends crypto enthusiasts to ensure safety cautions for digital assets. However, the release of the staff bulletin picturized the roles and duties that advisers carry over to the customers. 

Currently, Coinbase seeks a license in Bermuda for expanding its operations across the world. This happened with respect to Brian Armstrong, the CEO of Coinbase, who gave a speech at an event following the statement of quitting Coinbase U.S. if crypto regulations are emerging higher. If this could be the case, there might exist a bearish movement among cryptos including BTC, ETH, and others.

As per CoinMarketCap, the current price of BTC values $27,812.23 at a 10.79% decrease in trading volume in the last 24 hours. 

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