‘Extreme fear’ as Bitcoin rejects $60K, US court ruling a ‘game changer’ for crypto

It’s a legal-heavy episode today, but first, Bitcoin has rejected the $60,000 price level once again, pushing the Crypto Fear & Greed Index into “extreme fear” for the first time since January 2023. Nevertheless, with 90% odds of a September interest rate cut by the US Federal Reserve and stocks and gold reacting accordingly, it could be just a matter of time until BTC is back on the ascent. On the legal side of crypto, a US Supreme Court ruling could be a “game changer” for crypto, the SEC has dropped its action against Paxos and the Binance USD token, and Coinbase demands to see Gary Gensler’s private messages.

Further reading:

• Bitcoin index falls to ‘extreme fear’ as BTC fails twice to breach $60K
• German gov’t Bitcoin wallet drops to 5,800 BTC after major sale
• Bitcoin price struggles as investors expect Fed interest rate cuts — Why?
• Bitcoin price will hit $330K this bull cycle — Analyst
• Supreme Court ruling ‘changes the game’ for US crypto firms
• SEC will not pursue enforcement action against Paxos
• Judge has ‘strong views’ about Coinbase inquiry into Gensler’s private msgs

So, grab yourself a coffee, and let’s get into it!

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