Bitcoin briefly reached $25,800 on June 6th, but remained weak following news of the US Securities and Exchange Commission (SEC) suing Binance and its CEO for securities law violations.

Traders are looking for a potential recovery, with Crypto Ed suggesting a bounce target of $26,200 before a potential drop to just above $24,000. Decentrader warned of a high long/short ratio on Bitcoin, which could impact its ability to bounce back.

Former BitMEX CEO Arthur Hayes suggested that sub-par crypto performance is tied to activity within the US economy and the amount of money printing.