{"id":5547,"date":"2023-06-11T10:30:30","date_gmt":"2023-06-11T14:30:30","guid":{"rendered":"http:\/\/leadingcryptonews.com\/bitcoin-ethereum-to-shake-off-toothless-adversary-sec-as-fomc-looms\/"},"modified":"2023-06-11T10:30:30","modified_gmt":"2023-06-11T14:30:30","slug":"bitcoin-ethereum-to-shake-off-toothless-adversary-sec-as-fomc-looms","status":"publish","type":"post","link":"https:\/\/leadingcryptonews.com\/bitcoin-ethereum-to-shake-off-toothless-adversary-sec-as-fomc-looms\/","title":{"rendered":"Bitcoin, Ethereum to shake off \u2018toothless adversary\u2019 SEC as FOMC looms"},"content":{"rendered":"
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Bitcoin (BTC) and Ether (ETH) are due volatility \u2014 but not thanks to \u201ctoothless\u201d United States regulators, new analysis says.<\/p>\n
In its latest market update on June 9, trading firm QCP Capital told market participants to gear up for macro-fueled price action for BTC and ETH.<\/p>\n
Related:\u00a0Why is Bitcoin price stuck?<\/strong><\/p>\n The dust is continuing to settle on this week\u2019s main macro stories \u2014 lawsuits against exchanges Binance\u00a0and Coinbase from the U.S. Securities and Exchange Commission.<\/p>\n More upheaval will come in the future, QCP believes, as the macro environment from next week onward becomes much more unpredictable.<\/p>\n The SEC and Chair Gary Gensler, however, even if they continue to go after crypto, will not spark the mass price depreciation that some fear.<\/p>\n \u201cOnce again trigger-happy Gensler and his SEC cronies wielded their \u2018securities\u2019 threat on their favourite whipping industry. However as we have maintained before, BTC\/ETH will continue to treat the SEC as a toothless adversary \u2014 especially as it becomes crystal clear that the term \u2018security\u2019 will not apply to either,\u201d it wrote.<\/p>\n \u201cAs more and more such far-fetched SEC complaints are filed, it becomes increasingly clear all they are seeking are sensational headlines leading to a final fat settlement. After all, Gensler has proven the most capitalist of all previous regulators.\u201d<\/p><\/blockquote>\n What could put the cat among the pigeons, QCP warns, is the U.S. Department of Justice or other arms of the establishment.<\/p>\n \u201cAnd if one of them gets involved, then the case becomes more serious and all bets are off,\u201d it continued. <\/p>\n \u201cNonetheless we expect more mudslinging from the Biden administration to continue on crypto, and even ramp up into election season next year.\u201d<\/p><\/blockquote>\n The days following the exchange lawsuits have so far seen crypto market sentiment withstand the pressure, with the Crypto Fear & Greed Index staying rooted at 50\/100 \u2014 \u201cneutral\u201d territory.<\/p>\nQCP Capital: U.S. crypto \u201cmudslinging\u201d to continue<\/h2>\n