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Bitcoin Today 11/15/2024: BTC finally has a correction; Will Gary Gensler resign?
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For the first time in almost 10 days, Bitcoin (BTC) suffered a relevant price correction. This Friday (15), the cryptocurrency opened the day with losses of 2.3% and fell to US$87,000 before recovering.
With this, BTC managed to return to the US$89,000 level by the time this article was written. Despite this correction, the cryptocurrency still accumulates gains of 17.2% in the last seven days and 27% in November.
This drop in BTC was reflected in the Top 10 with eight cryptocurrencies registering a drop at the opening of the day. The biggest devaluation was of Dogecoin (DOGE), which fell 8.3% and followed other memecoins that had strong losses. Ether (ETH) fell 3% and Solana (SOL) followed closely behind, devaluing 2.8%.
Only XRP and Cardano (ADA) opened the day higher among the top 10 cryptocurrencies. ADA rose 7.6% and XRP rose significantly by 14% after the release of a statement that could indicate the resignation of Gary Gensler, president of the United States Securities and Exchange Commission (SEC).
In a farewell tone
It all started on Thursday (14), when Gensler released a report from the SEC’s 56th Annual Institute. The document provided a general overview of the SEC’s activities, including US capital markets, corporate governance and disclosure rules.
The document does not explicitly mention resignation, but contains a sentence written in a farewell tone. “It has been a great honor to serve with them, doing people’s jobs and ensuring that our capital markets remain the best in the world,” said Gensler
In what may be a farewell, Gensler acknowledged the SEC team, pointing out that they could make more money elsewhere but would choose to serve the public.
The document has an entire section dedicated to the SEC’s role in the cryptocurrency market. Gensler quotes his predecessor in the role, Jay Clayton, stating that they both agreed that BTC was never a security asset.
In fact, Gensler points out that the SEC has never treated BTC this way. But he admits that the agency’s focus turned to other cryptocurrencies on the market
Our focus, instead, has been on some of the approximately 10,000 other digital assets, many of which courts have ruled were offered or sold as securities. Putting this in context, beyond Bitcoin, Ether and stablecoins, the rest of this market approaches $600 billion,” said Gensler.
Bitcoin Today 11/15/2024: BTC finally has a correction; Will Gary Gensler resign?
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Bitcoin Today 11/15/2024: BTC finally has a correction; Will Gary Gensler resign?
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Bitcoin Today 11/15/2024: BTC finally has a correction; Will Gary Gensler resign?
