Bitcoin touches $29K! Why BTC is unaffected by regulatory pressure
Cointelegraph
Published Mar 30, 2023 03:30PM ET
Updated Mar 31, 2023 04:20AM ET
In this week’s episode of Market Talks, Cointelegraph welcomes Brent Xu, founder and CEO of Umee — a decentralized finance hub built on the Cosmos SDK that offers tools for macro-level borrowing and lending applications. Before founding Umee, Xu led strategy at Tendermint while setting the strategic roadmap and partnerships for the Cosmos Ecosystem.
We start things off with our main topic for today: Bitcoin (BTC) touched $29,000, a new high for 2023, despite recent United States regulatory crackdowns on crypto firms and related uncertainty. This could also suggest the crypto market does not seem too bothered about the Commodity Futures Trading Commission’s lawsuit against Binance and its CEO Changpeng “CZ” Zhao. Even the Crypto Fear & Greed Index — which aims to numerically present the current “emotions and sentiments” toward Bitcoin and other large cryptocurrencies — has been steadily increasing over the last month despite wobbles in the global banking sector. What does all this really mean for the crypto space, though? Should investors not be so worried about regulations?
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Written By: Cointelegraph
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