Bitcoin Price Prediction $20 Billion Trading Volume Pushes BTC Back Above $17,000 – Here’s Where It’s Headed Next
On Friday, the BTC/USD pair traded strongly bullish, rising above the $16,750 level to $17,350. However, the stronger-than-expected US PPI figures from the Bureau of Labor Statistics have triggered a minor bearish correction, causing BTC to lose nearly 1.50% in the last few hours.
We discussed the significance of US PPI figures in my Asian session's Bitcoin price prediction. The US PPI figures rose 0.3% month over month and 7.4% year over year in December, the slowest annual rate since May 2021. Dow Jones polled analysts, who predicted a 0.2% increase.
In addition, investors will be watching the US FOMC and CPI numbers to see how the financial markets will react in the future.
In a new guidance issued on December 8, the Securities and Exchange Commission (SEC) required companies that sell securities to disclose to investors their vulnerability to potential risk in the cryptocurrency market.
The guidelines were released about a month after FTX, one of the world's largest cryptocurrency exchanges, declared bankruptcy after lending customer funds to a trading company run by Sam Bankman-Fried.
More than 100,000 customers have been impacted by the exchange's collapse. The advice letter serves as a template for the types of comments that a securities regulator may make to publicly traded companies.
The government requires companies to report any relationships they have with other companies that have filed for bankruptcy, had a large number of redemptions, unaccounted for crypto assets, or other major corporate compliance issues.
Gary Gensler, the SEC's chairman, denied earlier this week that the agency had failed to prevent cryptocurrency businesses from misusing clients' funds.
Furthermore, if the companies violate the law, the
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