Investing.com– Bitcoin’s price rose slightly on Friday, seeing limited action amid pressure from concerns over more regulatory measures, while hotter-than-expected U.S. inflation data also weighed amid bets on smaller rate cuts.
The world’s biggest cryptocurrency briefly broke below a key support level on Thursday but managed to recover above $60,000, albeit briefly. Broader crypto markets were also mostly subdued.
rose 0.6% to $61,403.0 by 09:26 ET (13:26 GMT). The token was trading down 2.3% this week.
Crypto rattled by SEC case against Cumberland
The U.S. Securities and Exchange Commission on Thursday charged crypto market maker Cumberland DRW with acting as an unregistered dealer for over $2 billion in crypto assets since 2018.
The move is the latest in the SEC’s long-running crackdown against what it perceives as multiple violations of securities law in the crypto industry.
