Could Oregon’s Lawsuit Against Coinbase Disrupt Bitcoin’s Rally Toward $100,000?

Jakarta, Pintu News – In the latest development to shock the crypto industry, Oregon Attorney General, Dan Rayfield, has filed an enforcement action against Coinbase.

This action was taken due to allegations that Coinbase had facilitated the sale of unregistered crypto assets, thereby exposing investors to significant risk.

Despite this legal pressure, the price of Bitcoin (BTC) has shown remarkable resilience, remaining above $80,000 for several consecutive days.

Check out the full news below!

Legal Action Against Coinbase

The Oregon Attorney General has officially sued Coinbase, alleging that the platform has violated regulations by selling unregistered crypto assets. This lawsuit highlights the risks that investors may face due to a lack of compliance with existing regulations.

Although the lawsuit has raised concerns among investors, the Bitcoin (BTC) market does not appear to have been significantly impacted, with prices remaining at high levels. The case is in the spotlight as it marks one of several legal actions taken by regulators against crypto exchanges in the United States.

This incident serves as a reminder of the importance of strict regulatory compliance in protecting investors and maintaining market stability.

Read also: Metaplanet Adds to Bitcoin (BTC) Collection with $28.2 Million Purchase

Bitcoin’s Resistance to Pressure

Despite pressure from legal action, Bitcoin (BTC) is showing impressive resilience. In recent days, investors have withdrawn around 14,000 BTC from exchanges, signaling the possible formation of a strong local price floor. This withdrawal can be interpreted as a sign of investor confidence in the long-term value of Bitcoin (BTC), as well as a strategy to reduce the risk of market volatility.

Additionally, Bitcoin (BTC) is also showing strength relative to US tech stocks, which are experiencing some pressure. This suggests that Bitcoin (BTC) may be decoupling from the traditional stock market, indicating that this cryptocurrency could serve as a safe haven in uncertain times.

Read also: 3 Cryptos in the Spotlight for Investors at the End of April 2025

Technical Analysis and Bitcoin Price Outlook

From a technical perspective, Bitcoin (BTC) is currently consolidating below the descending trendline resistance, which is near $85,489. With the short-term support of the 4-day Moving Average at $84,632, Bitcoin (BTC) seems to be forming a coiling pattern that suggests the potential for a significant breakout.

If Bitcoin (BTC) manages to break above $88,000, it could trigger a rally towards the $100,000 target. The current price pattern suggests that Bitcoin (BTC) is preparing for its next big move.

With strong technical and fundamental support, the potential to reach a new price record remains open, despite ongoing regulatory uncertainty.

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*Disclaimer

This content aims to enrich readers’ information. Pintu collects this information from various relevant sources and is not influenced by outside parties. Note that an asset’s past performance does not determine its projected future performance. Crypto trading activities have high risk and volatility, always do your own research and use cold cash before investing. All activities of buying and selling bitcoin and other crypto asset investments are the responsibility of the reader.

Reference

• Coingape. Bitcoin Price Forecast: Oregon Attorney General Sues Coinbase, Is BTC $100k Rally at Risk?. Accessed on April 22, 2025
• Featured Image: Generated by Ai