Investors remain cautious toward cryptocurrencies

Cryptocurrencies remained under pressure and continued to decline from this year’s peak despite some assets rebounding slightly. The crypto market has been seeing some changing conditions lately with investors being more cautious toward the asset class.

Bitcoin and other cryptocurrencies were affected by increasingly changing sentiment toward crypto as traders could limit their risk-taking in the crypto market due to limited upside catalysts and particularly considering the legal risks in the US.

The SEC’s lawsuits have been adding to the pressure on the industry as a whole. The legal actions could scare away some investors from the market but could be relatively positive for bitcoin’s dominance against other cryptocurrencies. In this regard, bitcoin has also been gaining ground against ethereum.