jennyliver2298

@jennyliver2298

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On the same podcast, Atkins also came out in support of Commissioner Peirce’s Token Safe Harbor Act — a bill that was re-introduced in 2021 — that would give crypto developers a grace period before they’re legally required to register with the SEC.

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“If the agency had been more accommodating and would deal straightforwardly with these various firms, I think it would be a lot better to have things happen here in the United States rather than outside,” Atkins said, citing the $4.3 billion fine that Binance was forced to pay as a reason why many crypto firms choose to remain outside the US.

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Speaking on the Free The People podcast on Feb. 23 last year, Atkins said that if the SEC had been less combative, there would’ve been more opportunity for industry growth in the US.

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They explained this suggests that profit-taking has “significantly cooled” and that further sell-offs may be “less dramatic in nature.”

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Cointelegraph reported that the sudden price decline from $98,338 to $92,957 triggered over $303.5 million in liquidations of long positions within the hour, pushing total liquidations over the 24 hours to $404 million.

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On Dec. 6, over 24 hours, Bitcoin (BTC) dropped almost 10% from $103,493 to under $93,000, just one day after surpassing the $100,000 price level for the first time on Dec. 5, according to CoinMarketCap data.

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“With such a decline in realized profit and sell-side pressure, we can expect future declines to be less abrupt than the one experienced last week,” Bitfinex analysts said in a Dec. 9 markets report.

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Near-term Bitcoin price dips probably won’t be as deep as last week’s 10% plunge, as selling pressure has significantly eased since its first spike above six figures, according to one crypto analysis. Others remain skeptical.

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“With such a decline in realized profit and sell-side pressure, we can expect future declines to be less abrupt than the one experienced last week,” Bitfinex analysts said on Dec. 9.

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Bitfinex analysts recently said that near-term Bitcoin price dips probably won’t be as deep as last week’s 10% plunge, as selling pressure has significantly eased after Bitcoin’s first spike above six figures.

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“The reality is timing markets are extremely difficult, and the fact that so many people believe they can call the ‘top’ on crypto now leads me to believe crypto is due for a much longer than expected uptrend this time,” Cheung said.

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“In prior cycles, participants largely engaged in a hodl and buy the dip mentality,” he said.

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Over the past 24 hours, about $1.58 billion in long positions were liquidated across the crypto market, according to CoinGlass data.

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