Bitcoin (BTC) Slips Below $23,000 As Crypto Regulation Rumors Spread

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Bitcoin fell to a four-week low, dropping below its $23,000 price range to as low as $22,408.

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The dip in Bitcoin's price is due to rumors of ongoing crypto regulation in the industry.

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 The U.S. financial regulator is investigating crypto exchange Kraken for potentially breaking security rules.

The investigation is at an advanced stage and could result in a settlement soon.

Brian Armstrong, CEO of Coinbase, voiced concerns about rumors of the SEC wanting to get rid of crypto staking for retail customers.

Armstrong emphasized the importance of staking in the industry, citing its positive impact on scalability, security, and carbon footprints.

Bitcoin is susceptible to changes in the industry and recently experienced a bearish movement.

In January, Bitcoin's price surged nearly 40% and reached above the $20,000 mark.

After falling below the $23,000 region, Bitcoin has lost a few billion from its market cap.

Bitcoin still holds its position as the largest crypto by market cap ....

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...with 41.21% global dominance, followed by Ethereum at 18.83%.

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