As of the article’s preparation, Bitcoin 
$78,323 is once again battling to stay above $64,000. Today has been an eventful day for cryptocurrencies. SEC Chairman Gensler provided testimony in Congress alongside other members. Prior to this, significant statements were made by Federal Reserve officials. Good news also emerged for Caroline Ellison. Here is a quick summary of the important events that unfolded recently.
Cryptocurrency Market Reacts to Developments
BTC price climbed to $64,375, seemingly in celebration of Caroline’s two-year prison sentence. The leading cryptocurrency had plummeted to $15,500 during the crash in November 2022, primarily due to the collapse of FTX. Court documents revealed that SBF and associates were aware that the exchange sold non-existent cryptocurrencies to its customers.
Caroline, the girlfriend of Alameda CEO SBF, cooperated with the court during the initial trial, implicating SBF. After receiving a 25-year prison sentence, Sam, Caroline was sentenced to two years.
SEC Postpones Decision on Spot ETH ETF Application
Another significant development involved the SEC’s decision to postpone its ruling regarding the spot ETH ETF application submitted by BlackRock.
At the time of writing, BTC is above $64,000. If the price can surpass the $65,000 resistance level, it would provide significant psychological support for bulls, bringing the targets of $68,000 and $70,000 into focus.
