Sharp Fall in Bitcoin (BTC) and General Market! Could this be the source?

Bitcoin (BTC) In addition to its declines during the day, the price lost approximately 1.5% in the last 1 hour and fell to the lowest level of $ 27,300 at the time of this writing.

With the deepening of the decline in the BTC price, the losses in the world’s largest crypto money reached 5.2% for 24 hours at the bottom.

Major altcoins, on the other hand, performed worse than Bitcoin, with an average decline of 10% in the last 24 hours.

At the time of this writing, the BTC price is trading at $ 27,500.

However, it should be said that there are a few claims, although the source of these decreases is not known exactly.

The first of these was shared on Twitter from an anonymous account named Andrew. The account, which has 34,000 followers, claimed that the SEC was preparing to personally intervene in Binance, Binance US and even Binance CEO Changpeng Zhao, citing its own sources.

UPDATE: Two sources have made it clear that the SEC is **very** close to moving on actions against Binance/Binance US, as well as CZ personally.

**source: “…he has to hope that it is JUST the SEC, and not the DOJ as well, unregistered securities versus money laundering.”

— Andrew (@AP_Abacus) May 8, 2023

The same account further claimed that the SEC, as well as the US Department of Justice, could file a lawsuit against the companies and CZ for alleged money laundering.

It is not known whether these unconfirmed claims were among the reasons for the recent decline. For now, these are just allegations. It is also known that such allegations are usually FUD, that is, fake news made to spread fear.

In addition, it is stated that the high number of transactions in the BRC-20 network, which is the popular topic of recent times, clogging the BTC network may be one of the factors causing the decrease. Because the transfer fees on the Bitcoin network have increased 20 times compared to the previous week.

*Not investment advice.