Altcoin News

Binance CFTC Lawsuit Has Enough To Affect Major Crypto Downtrend?

The Commodities Futures Trading Commission (CFTC) lawsuit against crypto exchange Binance changed the narrative in the market.
Published by
Binance CFTC Lawsuit Has Enough To Affect Major Crypto Downtrend?

Crypto News: The Commodities Futures Trading Commission (CFTC) lawsuit against crypto exchange Binance changed the narrative in the market, but it remains to be seen if the move still has enough legs to affect a major downtrend in cryptocurrency prices. Although the news of the lawsuit led to significant drop in Bitcoin price, it continues to hold resistance above the $26,600 level. Meanwhile, the crypto community is debating about the impact of CFTC action, which was in complete contrast to how the U. S. Securities and Exchange Commission (SEC) viewed major cryptocurrencies.

Also Read: XRP Lawyer: After CFTC, SEC Could Sue Binance Over Securities Offerings

The Binance lawsuit came just under a week after the SEC issued a Wells Notice to Coinbase, in what is turning out to be a spree of enforcement actions against crypto businesses. The notice was about concerns surrounding the listed digital assets, their staking services, and other things.

Advertisement

Binance CFTC Lawsuit FUD Over?

Despite the FUD around Binance lawsuit, the Bitcoin price managed to hold above the strong support level of $26,600. Crypto trader Crypto Tony warned about this crucial level after the Binance news was out. Meanwhile, Alex Kruger, another trader, said CFTC’s enforcement actions traditionally did not have any major impact on the crypto market.

“CFTC actions historically have no bite. Binance news brought some welcome short term volatility but is unlikely to start a trend.”

Although the Bitcoin price dropped by 0.60% over the last 24 hours, the global crypto market cap increased by 0.32% in the same period.

Also Read: Ethereum’s Next Big Upgrade “Shapella” Coming This April; ETH Price Poised To Rally?

Advertisement

Share
Anvesh Reddy

Anvesh reports major crypto updates around U.S. regulation and market moving trends. Published over 1400 articles so far on crypto and blockchain. A proud dropout of University of Massachusetts, Lowell. Can be reached at anvesh@coingape.com or x.com/BitcoinReddy or linkedin.com/in/anveshreddybtc/

Published by
Why trust CoinGape: CoinGape has covered the cryptocurrency industry since 2017, aiming to provide informative insights to our readers. Our journalists and analysts bring years of experience in market analysis and blockchain technology to ensure factual accuracy and balanced reporting. By following our Editorial Policy, our writers verify every source, fact-check each story, rely on reputable sources, and attribute quotes and media correctly. We also follow a rigorous Review Methodology when evaluating exchanges and tools. From emerging blockchain projects and coin launches to industry events and technical developments, we cover all facets of the digital asset space with unwavering commitment to timely, relevant information.
Investment disclaimer: The content reflects the author’s personal views and current market conditions. Please conduct your own research before investing in cryptocurrencies, as neither the author nor the publication is responsible for any financial losses.
Ad Disclosure: This site may feature sponsored content and affiliate links. All advertisements are clearly labeled, and ad partners have no influence over our editorial content.

Recent Posts

  • News

Indian Court Declares XRP as Property in WazirX Hack Case

In a landmark ruling, the Madras High Court in India has declared that XRP and…

October 27, 2025
  • News

Ethereum Supercycle Strengthens as SharpLink Gaming Withdraws $78.3M in ETH

Ethereum’s fundamentals continue to strengthen as major investors and analysts signal renewed confidence in the…

October 27, 2025
  • News

Trump Tariffs: Secretary Bessent Declares ‘Fantastic’ Trump–Xi Talks, Bitcoin Breaks $113,000

Bitcoin (BTC) has climbed above $113,000 as optimism grew ahead of President Donald Trump’s meeting…

October 26, 2025
  • News

Will Bitcoin Rally as JPMorgan Tips Fed To End QT at FOMC Meeting?

Bitcoin traders are turning their attention to this week’s Federal Open Market Committee (FOMC) meeting.…

October 26, 2025
  • News

White House Crypto Czar Backs Michael Selig as ‘Excellent Choice’ To Lead CFTC

White House crypto czar David Sacks has shown his support for Donald Trump's nomination of…

October 25, 2025
  • News

Ripple Explores New XRP Use Cases as Brad Garlinghouse Reaffirms Token’s ‘Central’ Role

Crypto firm Ripple has revealed that it is exploring new ways to use XRP within…

October 25, 2025