The recent settlement between Digital Currency Group (DCG) and the U.S. Securities and Exchange Commission (SEC) has cast a shadow over the cryptocurrency market, impacting Bitcoin's price movement. DCG's agreement to pay $38.5 million to resolve charges of misleading investors about its subsidiary, Genesis Global Capital, underscores the heightened regulatory scrutiny facing the crypto industry. This development has contributed to a cautious market sentiment, with traders closely monitoring Bitcoin's price action for signs of a breakout. Analysts have pointed out that Bitcoin needs to surpass the $103,000 mark to avoid bearish territory, as the market remains wary of potential downside risks.
The Proshares Ultra Bitcoin ETF (BITU) is currently priced at $61.46 as of 04:20 AM on Saturday, January 18.