24/7 Cryptocurrency News

Here’s Why Memorial Day Could Mark Change In Bitcoin Trader Sentiment

The US SEC may not initiate as many crypto market related enforcement actions starting from around Memorial Day, it is believed.
Published by
Here’s Why Memorial Day Could Mark Change In Bitcoin Trader Sentiment

Crypto Market News: While the cryptocurrency prices showed significant revival since the beginning of 2023, US regulatory scrutiny led by the U.S. Securities and Exchange Commission (SEC) has been equally intensive. Even the largest crypto market players like Coinbase, Binance and Kraken have not been spared in the recent months. The SEC has been adamant about enforcing in contradiction with the market demand for regulatory clarity. In a fresh development, the SEC clarified that it could take years to complete crypto rule making and that by that time it will take the enforcement route.

Also Read: Ethereum, Polygon Developers Skeptical Of OpenAI CEO’s Worldcoin

In this context, severe criticism was seen against SEC Chair Gary Gensler for his “come, register and comply” policy. Things got even more intense after Gensler failed to answer whether the existing laws are sufficient to govern the crypto asset market.

Advertisement

Change In Crypto Market Soon?

In light of heightened enforcement actions against crypto businesses and the US regional banking crisis, the Bitcoin price has been witnessing sideways movement associated with some loss in value over the last few weeks. Meanwhile, the crypto market sentiment was actually dominated by the memecoin frenzy with the likes PEPE Coin grabbing investor attention since its launch in April 2023. In this context, crypto influencer Ran Neuner believes the ongoing regulatory scrutiny could soon ease off as we approach the US election year. Further, he predicted that the SEC may not initiate as many enforcement actions starting from around Memorial Day, May 29, 2023.

Neuner added that Gary Gensler could be replaced from the SEC top post if Republicans emerge victorious in the upcoming US election.

Also Read: Explained: What is Layer 0 in Blockchain? Layer Zero Crypto Examples

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

  • 24/7 Cryptocurrency News

Just In: Nasdaq-Listed VivoPower Raises $19M in Equity to Expand XRP Treasury Holdings

Nasdaq-listed VivoPower has stepped up its digital treasury goals with a fresh capital raise aimed…

October 2, 2025
  • 24/7 Cryptocurrency News

Solana Price Rallies 5% as Nasdaq-listed VisionSys Launches $2B SOL Treasury Strategy

Solana increased in price by 5% to approximately $219 following a $2 billion Solana treasury…

October 2, 2025
  • 24/7 Cryptocurrency News

XRP Ledger Rolls Out MPT Standard for Real-World Asset Tokenization

The XRP Ledger (XRPL) has launched the Multi-Purpose Token (MPT) standard, designed to simplify and…

October 1, 2025
  • 24/7 Cryptocurrency News

SEC Puts Crypto ETF Approvals On Hold Following U.S. Government Shutdown

The U.S. Securities and Exchange Commission has announced plans to streamline its operations amid the…

October 1, 2025
  • 24/7 Cryptocurrency News

Pi Network Adds DEX and AMM Features To Expand Pi Coin’s Utility

Pi Network has now added two new features to its Testnet. These are a decentralized…

October 1, 2025
  • 24/7 Cryptocurrency News

October Fed Rate Cut Odds Rise After Weak U.S. Labor Data, Bitcoin Surges

U.S. private payrolls unexpectedly fell in September, raising market bets that the Federal Reserve will…

October 1, 2025