Bitcoin Price Prediction as $40 Billion Trading Volume Comes In – Here are Key Levels to Watch

cryptonews.com:

Bitcoin 's price has been on the rise, with a trading volume of $40 billion entering the market. The BTC/USD pair has declined less than 1% within the past 24 hours, currently trading at $24,372.00. Despite this recent dip, its value has seen a notable increase of over 11% within the last seven days. 

This surge has brought renewed attention to the world's most well-known cryptocurrency, and investors are eagerly looking for the next key levels to watch. 

Let's take a closer look at the key fundamentals of the cryptocurrency market that may be influencing the overall price movement.

Chinese journalist Colin Wu shared an article on his official Twitter account on February 19, written by Bloomberg Opinion Columnist Matt Levine, which sheds light on the Securities and Exchange Commission's (SEC) regulations regarding cryptocurrencies. 

Wu drew attention to Levine's perspective on the SEC's ability to identify tokens as securities, thus highlighting the regulatory body's authority in creating and controlling the regulatory frameworks for the cryptocurrency industry. Levine also discussed the possibility of "regulatory investment advisors" having an indirect role in regulating cryptocurrencies.

Matt Levine, a Bloomberg Opinion Columnist, highlighted the Securities and Exchange Commission's (SEC) use of financial advisors to indirectly create rules for the cryptocurrency sector. 

Additionally, the SEC governs investment funds, which means that cryptocurrencies also fall under its purview. In light of regulatory assurances about the cryptocurrency sector, investors have re-entered the volatile digital asset market, which has led to BTC/USD strengthening.

Ordinal Inscriptions are a new type of digital asset that was launched in January