Bitcoin (BTC) recovered swiftly after a significant drop to a three-month low below $25,500 following lawsuits filed by the U.S. Securities and Exchange Commission (SEC) against major cryptocurrency exchanges Coinbase and Binance for alleged federal securities law violations. The SEC also suggested that 13 tokens, including Cardano's ADA and Polygon's MATIC, could be considered securities, causing these currencies to dip by 5% over the past 24 hours. Despite the initial drop, Bitcoin managed to climb back over $27,000, though it has slightly decreased to $26,800, showing a 4% overall increase in the last 24 hours. LMAX Digital noted that the price resilience is a positive sign of the market's continued confidence despite regulatory uncertainties.
