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<p class="is-style-lead">The US Securities and Exchange Commission (SEC) took legal action against the crypto industry over the past week. However, data shows that the heat around the SEC lawsuits has fallen while the prices gain corrections.</p>



<p>The regulator sued <a href="https://crypto.news/sec-sues-binance-and-cz-for-securities-violations/">Binance</a> and <a href="https://crypto.news/sec-sues-coinbase-just-hours-after-binance/">Coinbase</a> crypto exchanges on June 5, which caused a notable rise of negative sentiment in the crypto market. On June 10, the global crypto market capitalization plunged to a local bottom of $1.03 trillion while the top assets wandered in the red zone.</p>



<figure class="wp-block-image size-full"><img decoding="async" width="2272" height="1112" src="https://crypto.news/app/uploads/2023/06/market-snapshot.png" alt="Crypto market recovers as SEC lawsuits’ heat falls - 1" class="wp-image-14168571"><figcaption class="wp-element-caption">Crypto markets are in the green | Source: <a href="https://coin360.com/" data-type="URL" data-id="https://coin360.com/" target="_blank" rel="noopener">coin360.com</a></figcaption></figure>



<p>According to the market intelligence platform Santiment, the heat around the SEC lawsuits has cooled off. Moreover, the current situation might suggest a steady growth for cryptocurrencies until further progress around the lawsuits.</p>



<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter"><div class="wp-block-embed__wrapper">
<blockquote class="twitter-tweet" data-width="550" data-dnt="true"><p lang="en" dir="ltr">👨‍⚖️ With traders still very much aware of the <a href="https://twitter.com/hashtag/SEC?src=hash&amp;ref_src=twsrc%5Etfw" target="_blank" rel="noopener">#SEC</a> going after <a href="https://twitter.com/hashtag/Binance?src=hash&amp;ref_src=twsrc%5Etfw" target="_blank" rel="noopener">#Binance</a> and <a href="https://twitter.com/hashtag/Coinbase?src=hash&amp;ref_src=twsrc%5Etfw" target="_blank" rel="noopener">#Coinbase</a>, the mass hysteria has at least settled down. Until the next developments with the lawsuits, we could see some gradual rising of prices back to pre-crash levels. <a href="https://t.co/Za7tchgeUx" target="_blank">https://t.co/Za7tchgeUx</a> <a href="https://t.co/BSZEHrjQNP" target="_blank">pic.twitter.com/BSZEHrjQNP</a></p>&mdash; Santiment (@santimentfeed) <a href="https://twitter.com/santimentfeed/status/1668356993944530944?ref_src=twsrc%5Etfw" target="_blank" rel="noopener">June 12, 2023</a></blockquote><script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script>
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<p>Per a <a href="https://crypto.news/top-crypto-exchanges-see-notable-negative-net-flows-volumes-down/">report</a> on June 12, crypto exchanges saw negative net flows of more than $4.6 billion — bitcoin (<a href="https://crypto.news/price/bitcoin/" data-type="URL" data-id="https://crypto.news/price/bitcoin/">BTC</a>), ethereum (<a href="https://crypto.news/price/ethereum/" data-type="URL" data-id="https://crypto.news/price/ethereum/">ETH</a>) and USDT only — over the past week, showing signs of HODLing or accumulation. </p>



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<iframe loading="lazy" title="Fire SEC Chair Gary Gensler! (URGENT) &quot;He is LYING to You!&quot;" width="1020" height="574" src="https://www.youtube.com/embed/c9k_Nv91HQo?feature=oembed" frameborder="0" allow="accelerometer; autoplay; clipboard-write; encrypted-media; gyroscope; picture-in-picture; web-share" allowfullscreen></iframe>
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<p>Bitcoin’s SOPR ratio also suggested the rise of intense interest as the asset’s price gained correction from the local bottom of around $25,500, according to a crypto.news <a href="https://crypto.news/bitcoins-sopr-ratio-suggests-strong-interest-as-price-recovers/">report</a>.</p>



<p>Furthermore, <a href="https://coinmarketcap.com/charts/" target="_blank" rel="noopener">data</a> provided by CoinMarketCap (CMC) shows that the global crypto market cap has risen by 1.18% over the past 24 hours — from $1.04 trillion yesterday, to $1.06 trillion at the time of writing.</p>




    <p>
        Read more:

        <a href="https://crypto.news/sec-generated-record-confiscated-income-in-2022-why-it-is-crucial-for-crypto/">
            SEC generated record confiscated income in 2022: why it is crucial for crypto        </a>
    </p>

Crypto market recovers as SEC lawsuits’ heat falls

crypto.news

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