{"id":7695,"date":"2023-06-13T06:10:22","date_gmt":"2023-06-13T06:10:22","guid":{"rendered":"https:\/\/www.bitrabo.com\/community\/next-24-hours-will-be-critical-for-crypto\/"},"modified":"2023-06-13T06:10:45","modified_gmt":"2023-06-13T06:10:45","slug":"next-24-hours-will-be-critical-for-crypto","status":"publish","type":"post","link":"https:\/\/www.bitrabo.com\/discover\/next-24-hours-will-be-critical-for-crypto\/","title":{"rendered":"Next 24 Hours Critical for Crypto Industry"},"content":{"rendered":"\n<div>\n<p>The crypto industry faces a critical period in the next 24 hours due to various macroeconomic events and their potential impact on crypto market prices. The US Securities and Exchange Commission (SEC) features prominently, with several key events taking place today, Tuesday, June 13th.<\/p>\n<p>Of particular significance is the alleged unsealing of the SEC\u2019s internal Hinman documents in the Ripple case, which could shed light on Ethereum\u2019s previous classification as a non-security. SEC Chairman Gary Gensler is challenging this classification, and the Hinman documents could be vital in the Ripple case.<\/p>\n<p>In addition, the SEC\u2019s temporary restraining order against Binance is due to be heard at 2pm EST. Another event of significance is the SEC\u2019s response to Coinbase\u2019s petition for rulemaking.<\/p>\n<p>The proposed expanded definition of an exchange could force DEXs to register as securities exchanges. According to attorney Bill Hughes of ConsenSys, new US legislation is urgently needed as this proposal puts the burden on the blockchain space to guess the rules correctly, leading to retroactive punishment.<\/p>\n<p>The total crypto market cap stood at $1.027 trillion at press time, having fallen below the 200-day EMA on Saturday, as altcoins were hit hard by the SEC\u2019s Binance and Coinbase lawsuits. However, a bullish reaction could be likely if the Hinman documents contain statements that challenge the SEC\u2019s claims.<\/p>\n<figure id=\"attachment_238690\" aria-describedby=\"caption-attachment-238690\" style=\"width: 3625px\" class=\"wp-caption aligncenter\">\n<figcaption id=\"caption-attachment-238690\" class=\"wp-caption-text\">Total crypto market cap, 1-day chart | Source: <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/www.tradingview.com\/x\/JA8i9qhP\/\">TOTAL on TradingView.com<\/a><\/figcaption><\/figure>\n<p>Featured image from iStock, chart from TradingView.com<\/p>\n<\/div>\n<p><script async src=\"\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n","protected":false},"excerpt":{"rendered":"<p>The crypto industry faces a critical period in the next 24 hours due to various macroeconomic events and their potential impact on crypto market prices. The US Securities and Exchange Commission (SEC) features prominently, with several key events taking place today, Tuesday, June 13th. Of particular significance is the alleged unsealing of the SEC\u2019s internal [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":7697,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"slim_seo":{"title":"Next 24 Hours Critical for Crypto Industry - Bitrabo","description":"The crypto industry faces a critical period in the next 24 hours due to various macroeconomic events and their potential impact on crypto market prices. The US"},"footnotes":""},"categories":[316],"tags":[1128,504,1793],"class_list":["post-7695","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-crypto-news","tag-critical","tag-crypto","tag-hours"],"acf":[],"_links":{"self":[{"href":"https:\/\/www.bitrabo.com\/discover\/wp-json\/wp\/v2\/posts\/7695","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.bitrabo.com\/discover\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.bitrabo.com\/discover\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.bitrabo.com\/discover\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.bitrabo.com\/discover\/wp-json\/wp\/v2\/comments?post=7695"}],"version-history":[{"count":0,"href":"https:\/\/www.bitrabo.com\/discover\/wp-json\/wp\/v2\/posts\/7695\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.bitrabo.com\/discover\/wp-json\/wp\/v2\/media\/7697"}],"wp:attachment":[{"href":"https:\/\/www.bitrabo.com\/discover\/wp-json\/wp\/v2\/media?parent=7695"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.bitrabo.com\/discover\/wp-json\/wp\/v2\/categories?post=7695"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.bitrabo.com\/discover\/wp-json\/wp\/v2\/tags?post=7695"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}