Bitcoin and altcoins witnessed a sharp sell-off on the news that the United States Securities and Exchange Commission (SEC) filed a suit against Binance in U.S. district court for unregistered securities operations.
This lawsuit could delay the recovery in Bitcoin (BTC) and most major altcoins, as traders could prefer to remain on the sidelines for a few days until some clarity emerges. Another upcoming event that could keep the investors at bay is the Federal Reserve’s meeting on June 14.