Cryptocurrencies Price Prediction: Binance, Bitcoin & Ethereum – European Wrap 23 June

Binance motion against the SEC could instigate criminal prosecution, expert says

John Reed Stark, former attorney at the Securities and Exchange Commission’s (SEC) enforcement division, said Friday that Binance’s legal motion against the SEC regarding “misleading” statements from the US financial regulator is a bad idea because it is likely to lay the ground for criminal prosecution.

Stark, who shared his views on the matter via Twitter, argues that the SEC’s attorney’s allegations and statements likely reflect information that the regulator has gathered from informants, whistleblowers and criminal investigation agencies. In Stark’s words, Binance is “poking the bear” and asking for the unsealing of criminal charges related to the exchange and/or its executives.

Bitcoin Weekly Forecast: Will BTC take a break after $30,000?

Bitcoin price remains highly bullish on all timeframes. The recent rally has pushed it to the $30,000 psychological level. With rising Bitcoin dominance, altcoins are likely going to be sidelined while investors pour capital into BTC, pushing the big crypto to scale higher heights.

Bitcoin price is currently hovering around the $30,000 region, with the weekend just around the corner. With a lack of trading volume, volatility is going to be absent. Additionally, the second quarter of 2023 is also coming to an end, which could potentially trigger a volatile move around the monthly close. But a question that many sidelined investors have is - “will there be a retracement?”

Accumulation in Bitcoin, Ethereum

Crypto market capitalisation has adjusted 0.65% in the past 24 hours to 1.17 trillion, remaining near the highs since early May. The correction is primarily due to a 0.55% dollar strengthening over the same period. The current dynamic is still a halt after a 16% rally but not a correction.
Bitcoin is frozen at $30K, a significant technical level. 

These levels were pivotal for the first cryptocurrency in April, and last May it took more than a month for the bears to sell the rate lower. Also, a furious part of the crypto rally started from this level in early 2021. It's worth being prepared for quite a long consolidation, but this week's bullish breakout suggests that long-term investors have already moved to accumulate Bitcoin on drawdowns.