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Bitcoin and Cryptocurrencies Experience Sell-Off After SEC Lawsuit Against Binance, Whales Accumulate While Traders Remain Cautious

Bitcoin and other cryptocurrencies saw a significant drop in value after the SEC filed a lawsuit against Binance for unregistered securities operations. This news may cause traders to remain cautious until more clarity emerges. However, data from Glassnode suggests that the largest group of Bitcoin whales have been accumulating over the past few days, which could lead to a recovery. The S&P 500 Index is expected to continue its upward trend, while the US dollar index has rebounded and could potentially start a new up-move. In terms of specific cryptocurrencies, BNB, XRP, ADA, DOGE, SOL, and MATIC are all experiencing varying levels of support and resistance. The author of this article does not provide investment advice or recommendations, and readers should conduct their own research before making any decisions.

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