Bitcoin falls to $25,500 amid SEC lawsuit against Binance

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Yesterday, June 5, the U.S. Securities and Exchange Commission (SEC) sued Binance and its founder Changpeng Zhao on multiple charges.This led to a decrease in the bitcoin rate.

In its lawsuit, the regulator claims that Changpeng Zhao created a "network of deception" with the help of the Binance cryptocurrency exchange.The platform is also accused of falsifying trading volumes and trading unregistered securities.At the same time, the SEC equated 61 tokens to securities at once, including fairly large assets such as SOL, ADA, MATIC and ATOM.

This lawsuit led to the fact that some investors decided to sell their bitcoins, as a result of which the rate of the first cryptocurrency fell by 5%.And over the week, the price of bitcoin decreased by 7.5%.Now BTC is trading at $25,700, although a week ago the rate reached $27,800. 

Analysts stressed that there is strong support for the first cryptocurrency at the $25,000 level.However, if the rate falls below this mark, then we should expect further sales.

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It should be noted that the fall of bitcoin led to a decline in the entire cryptocurrency market.