Bitcoin (BTC) Within A Consolidation Pattern As SEC Intensifies Legal Actions Against Crypto Exchanges

The SEC has stepped up regulatory actions against cryptocurrency exchanges, and the regulator is expected to make further announcements in the near future.

Bitcoin is currently consolidating in a consolidation pattern and appears to be trying to find a bottom before resuming its uptrend.

The cryptocurrency is supported by a series of positive catalysts, including news of regulatory developments, which has been positive for bitcoin.

The SEC's recent decision to fine Binance for alleged violations of securities laws and its decision not to penalize Coinbase for allowing clients to trade on margin could also be good news for bitcoin.