what happened to the market today?

[tvplus006]

But since the actions of the SEC were directed at Binance the drop on its price has been very significant, now the price is down a 22% during the last seven days and now it is trading at levels we did not saw since December of 2022, so in a matter of days the growth that it took half a year to take place simply disappeared, so I hope people are very careful at the moment as anything could happen, especially when it comes to the binance coin and their stable coin.

"Gensler can destroy the U.S. crypto industry, but he can’t kill crypto" - https://fortune.com/crypto/2023/06/09/gensler-can-destroy-the-u-s-crypto-industry-but-he-cant-kill-crypto/ But I think that thanks to such whales as Coinbase and Binance, the crypto world will defend its right to work in the American market.

[TelolettOm]

I think this is a SEC tactic to make people afraid to invest in crypto, besides that it's not only Binance who is having problems with SEC, but Matic, ADA and SOL too, so that makes the market go down quickly (bear market) and what do we expect is only CZ can win against SEC or people are not affected by SEC, so the market price can rise again or even a bullrun occurs (if CZ wins against SEC).

We don't know what the real purpose of SEC to accuse some big projects in crypto industry. After they got Ripple in a trouble, they alleged Binance for 2 main issues (mishandling money & dishonest with regulators). SEC think they are a regulator in crypto industry, they don't know that crypto is a decentralized system.

What are the problems with ADA, MATIC, and SOL?
If the problem is only about the significant drop in their prices, it is because most altcoins follow Bitcoin price. We must know that BTC is dropping its price to $25k again, it triggers most altcoins to drop again with significant changes. Moreover, we have bad news related to SEC vs Binance now.

[poodle63]

"Gensler can destroy the U.S. crypto industry, but he can’t kill crypto" - https://fortune.com/crypto/2023/06/09/gensler-can-destroy-the-u-s-crypto-industry-but-he-cant-kill-crypto/ But I think that thanks to such whales as Coinbase and Binance, the crypto world will defend its right to work in the American market.

Destroy crypto = kill crypto. Gensler can't kill crypto caused by crypto can still be traded in the market even with very small price but destroying crypto industry in US meant slowly killing crypto.

US has been known as crypto house. It must be noted here if gensler was targeting unregulated crypto but not for bitcoin. bitcoin will live forever as it's utility coin.

[bitterguy28]

i was surprised to see the market today, everything fell in a short time, bitcoin fell around $1000 very fast and looking at coinmarketcap, all coins are red.  a few days ago bitcoin rose slowly, but today was very surprising. What happen today?

Dont be surprise  in the coming days as we are closer to halving , there are more activities like this or much worst because we knew that Bull will come after the bear ends ,
with at least year before the bitcoin halving happens then expect more of this so don't be surprised .

BEAR market still not over yet and recently there so many bad news hanging around, especially the problem between the biggest exchange in the world which is binance got sues from SEC and already under investigation.

seems bearish just gets prolonged, we could even hardly consider the previous rally of some altcoins to be bullish because only very few chosen alts are rising the other are just still having some stagnation.
right now the condition become even worse, as the lawsuit unfolds, surely there will be waves of correction in which many investment will not get spared at all.

the market keeps holding 25k but no sign of  dropping bellow as this was happened recently

https://coinmarketcap.com/currencies/bitcoin/markets/

Hope that in the coming days we will be stable again.

[ahoenk]

i was surprised to see the market today, everything fell in a short time, bitcoin fell around $1000 very fast and looking at coinmarketcap, all coins are red.  a few days ago bitcoin rose slowly, but today was very surprising. What happen today?

it happen many times before mate, sued by SEC or other FUD. the worst crash was Mt Gox case and bitcoin still survive untill today. who ever want bitcoin die i will say to them " i am sorry it will never happen. pandora box already opened and it will stay here forever. and welcome to crypto to who ever new in this. thats how crypto works. some times they accept it but sometimes they refuse it.

[awik p]

I think this is a SEC tactic to make people afraid to invest in crypto, besides that it's not only Binance who is having problems with SEC, but Matic, ADA and SOL too, so that makes the market go down quickly (bear market) and what do we expect is only CZ can win against SEC or people are not affected by SEC, so the market price can rise again or even a bullrun occurs (if CZ wins against SEC).

We don't know what the real purpose of SEC to accuse some big projects in crypto industry. After they got Ripple in a trouble, they alleged Binance for 2 main issues (mishandling money & dishonest with regulators). SEC think they are a regulator in crypto industry, they don't know that crypto is a decentralized system.

What are the problems with ADA, MATIC, and SOL?
If the problem is only about the significant drop in their prices, it is because most altcoins follow Bitcoin price. We must know that BTC is dropping its price to $25k again, it triggers most altcoins to drop again with significant changes. Moreover, we have bad news related to SEC vs Binance now.

what I'm thinking about right now is how to add assets in the face of this decline. this could happen as a result of the declining bitcoin market sentiment, or even the SEC which triggers FUD. however it is my happiness to have the opportunity to repurchase. especially on matic, I have been collecting matic for a long time, even though it is currently a floating minus, but I actually intend to collect it, because later I will be able to double my money

[Amejoaquim]

No need to shock with the market, all of this situation happen because of the problem between sec and binance.
Worst thing could be happen if Binance lose against SEC, it totally gonna drag our market into the ground.
Then we gonna see another crash, maybe the price of btc can jump back into 15k.

[Rupok]

Very worried about the market movement, I expected Bitcoin to recover by the end of 2023. Although these are normal occurrences in cryptocurrencies, drops don't shock me anymore.A few days ago, the price of Bitcoin went up, but suddenly it started to fall again, and also the price of BNB has dropped a lot.  I don't know what is going to happen in the market.  But we are still in a bearish market, we may see such an event for a few more days.I think ultracoins will suffer a lot.We need to be patient for market recovery.

[savetheFORUM]

Due to the SEC of being greedy, market have been crumbled out because of FUD that literally scares everyone else in the crypto space but not all because OG people will understand only that FUD is only a FUD, nothing more. Crypto will survive this flash crash and mind you we have been here in this kind of situation for years now. So, this FUD will not last long and soon it will recover! Never fear and always buy the DIP instead!

I don't understand how SEC is being greedy in all this, they are evidently fighting against cryptocurrencies in general and don't want them to prosper especially within the US because they fear people will soon stop using traditional financial systems and they will lose control over everyone's finances and financial activities which they've been control for centuries, they wouldn't give away the throne just like that.

Will crypto survive this? Of course, it will, we have seen bigger problems in the cryptocurrency market in the past and we have managed to survive those, the market crashes obviously because people react to these things but it eventually gains its value back.

[TheSpiral]

Very worried about the market movement, I expected Bitcoin to recover by the end of 2023. Although these are normal occurrences in cryptocurrencies, drops don't shock me anymore.A few days ago, the price of Bitcoin went up, but suddenly it started to fall again, and also the price of BNB has dropped a lot.  I don't know what is going to happen in the market.  But we are still in a bearish market, we may see such an event for a few more days.I think ultracoins will suffer a lot.We need to be patient for market recovery.

Btc price not falls big and chance if rising is high but altcoins fall is not good and many coins are down this time. unfortunately i am holding bnb an sui and both are down so much. Now it will take long time to recover. Sec does not want crypto to be success, this is why they sues both big exchange to create fud so that people start panic sell. we should hold tightly because this bear will not remain for long time. this year many events happened which cause bear market but we seen bull after every bear.

[o48o]

-cut-
SEC think they are a regulator in crypto industry, they don't know that crypto is a decentralized system.

This doesn't really mean anything. If something would be truly decentralized they couldn't sue anything. There are always some form of centralized elements, especially with CEXes and with projects that launched via ICOS, IDOs or whatever money collecting method they have. They have a team to sue.

What are the problems with ADA, MATIC, and SOL?
If the problem is only about the significant drop in their prices, it is because most altcoins follow Bitcoin price. We must know that BTC is dropping its price to $25k again, it triggers most altcoins to drop again with significant changes. Moreover, we have bad news related to SEC vs Binance now.

From what i understand it's the method how they marketed their coin. You can't promise growth or even hint about it. Many of these allowed price talk in their official chats and even that's a big no-no to SEC.

[Teraboy]

Very worried about the market movement, I expected Bitcoin to recover by the end of 2023. Although these are normal occurrences in cryptocurrencies, drops don't shock me anymore.A few days ago, the price of Bitcoin went up, but suddenly it started to fall again, and also the price of BNB has dropped a lot.  I don't know what is going to happen in the market.  But we are still in a bearish market, we may see such an event for a few more days.I think ultracoins will suffer a lot.We need to be patient for market recovery.

it's not something that could considered as a normal occurrence if the whole thing was the after effect of the lawsuit.
I think we should observe further about the lawsuit and see how the market reacts to it, since we are actually still at initial phase, maybe in the future there will be corrections.

[Inspiron14]

Today the market is very volatile and takes up a lot of liquidation in futures trading,
even though the price of Bitcoin only went up from $25k to $26k, and then fell again from $26k to $25k,
but altcoin prices dumped up to -20% and some are even more,
yes this is because it is news from the SEC that sue Binance and Coinbase and have an impact on the crypto market and the worst thing is altcoins.

[Slow death]

the truth is that currently there is not much good news on the market and with wars and sanctions and the financial crisis things have only gotten worse, for example news like this:

SEC and Binance seek compromise on US assets freeze

they bring back the bad memories that they had and that made the price drop to 15000$ so when people see news of this type again the first thing that comes to their minds is to sell the coins they have because they think that the price will drop a lot again and it would generate much damage to them and unfortunately it is still a long way from news like this to end, because in this cryptocurrency market 99% of exchanges operate without a license and even though some kyc implements are still a long way from actually complying with the rules that many countries require Financial Institution

so all these problems will be arising a lot in the coming months and years until the exchanges improve a lot, now about the price that will depend on how the world financial market will recover and I very much doubt that things will improve so soon since it still doesn't have a light at the end of the tunnel about a possible end of the war in europe, so the price will stay in this range below 30,000$, the good part is that it is a good chance for people to be buying to hold for 2 or 3 years that could have profits of 2x or 3x very easily, the real problem is the lack of patience and in this market only those who have a lot of patience profit

[kotajikikox]

i was surprised to see the market today, everything fell in a short time, bitcoin fell around $1000 very fast and looking at coinmarketcap, all coins are red.  a few days ago bitcoin rose slowly, but today was very surprising. What happen today?

your account is almost 6 years old and posting in this forum for long years but yet asking this kind of newbie question?
bitcoin does not even drop 20% and you are already alarmed?
when there are so much dumping and pumping for all those years that you are here  and supposedly has the idea what this happened.

FUD everywhere. Binance is the major party that was making the market feel panic today. i don't have words to describe it but everything will be going so badly these days. In my opinion that if this gonna be another bearish week.

Let's see a good news to come at the end of this week.

this Binance and Government drama is taking place , as there are whales and  manipulators that wanted to shaken the market so they can bag money again.

[Natalim]

i was surprised to see the market today, everything fell in a short time, bitcoin fell around $1000 very fast and looking at coinmarketcap, all coins are red.  a few days ago bitcoin rose slowly, but today was very surprising. What happen today?

If you are new to the crypto space, I'm not surprised. But just to tell you that what you have seen today is very common in the crypto space, that's how volatility looks like and we can't expect everything to go so well, a market crash is also possible. That is why it is called a risky investment and if you can't manage to handle this situation and are able to adopt it, surely it gives stress on you.
I encourage you to keep strong and calm, it dumps today but believe it will turn back high again.

[nur rochid]

i was surprised to see the market today, everything fell in a short time, bitcoin fell around $1000 very fast and looking at coinmarketcap, all coins are red.  a few days ago bitcoin rose slowly, but today was very surprising. What happen today?

If you are new to the crypto space, I'm not surprised. But just to tell you that what you have seen today is very common in the crypto space, that's how volatility looks like and we can't expect everything to go so well, a market crash is also possible. That is why it is called a risky investment and if you can't manage to handle this situation and are able to adopt it, surely it gives stress on you.
I encourage you to keep strong and calm, it dumps today but believe it will turn back high again.

Crypto is indeed a risky investment, but it also has great rewards. In fact, we can manage the risks ourselves, but greed often gets to us and ends in cut losses. the safest cryptocurrency investment is in bitcoin, so we can place most of the capital we have, and after that we must be able to diversify according to the level of risk. that way we will remain calm in the face of existing fluctuations

[bitkanu]

Today the market is very volatile and takes up a lot of liquidation in futures trading,
even though the price of Bitcoin only went up from $25k to $26k, and then fell again from $26k to $25k,
but altcoin prices dumped up to -20% and some are even more,
yes this is because it is news from the SEC that sue Binance and Coinbase and have an impact on the crypto market and the worst thing is altcoins.

I'd honestly consider the effect to be not that massive after all, most of the coin are still retaining their value good enough.
but I think there will be impact that follows in the future, there are still many unclear about the lawsuits.

[ahoenk]

Today the market is very volatile and takes up a lot of liquidation in futures trading,
even though the price of Bitcoin only went up from $25k to $26k, and then fell again from $26k to $25k,
but altcoin prices dumped up to -20% and some are even more,
yes this is because it is news from the SEC that sue Binance and Coinbase and have an impact on the crypto market and the worst thing is altcoins.

I'd honestly consider the effect to be not that massive after all, most of the coin are still retaining their value good enough.
but I think there will be impact that follows in the future, there are still many unclear about the lawsuits.

Its not crash, i ever seen btc going down even more then yesterday. It was fun tho...
And it is always FuD when the Halving coming. They shake the weak hand to get more our coin.classic gov which always fight against crypto but never win.

[Silberman]

i was surprised to see the market today, everything fell in a short time, bitcoin fell around $1000 very fast and looking at coinmarketcap, all coins are red.  a few days ago bitcoin rose slowly, but today was very surprising. What happen today?

If you are new to the crypto space, I'm not surprised. But just to tell you that what you have seen today is very common in the crypto space, that's how volatility looks like and we can't expect everything to go so well, a market crash is also possible. That is why it is called a risky investment and if you can't manage to handle this situation and are able to adopt it, surely it gives stress on you.
I encourage you to keep strong and calm, it dumps today but believe it will turn back high again.

One of the most basic lessons new traders must learn but refuse to do so is that volatility can work both ways, so sometimes it can favor us and it can allow us to make a lot of money in a relatively short amount of time, but sometimes it can work against us as well, right now the market is experimenting a negative trend but for those of us which has been around for a very long time what we are seeing is nothing new and we can easily deal with it.