Bitcoin Is Growing! Concerns About Binance’s Fall

DB and Binance are not so scary anymore. Bitcoin took advantage of this and returned above $28,000.
Worries about the fate of Binance have subsided - after a closer look at what is actually happening. That, combined with a relatively sharp rally in the stock market, is helping bitcoin return to price levels close to what they were a week ago. The price has approached the $29,000 mark, signaling the end of a strong moment for the cryptocurrency.
Those who believed in a return to lower price levels (some saw a chasm as high as $20,000) have been debunked, as have the prophets of doom who believed the numerous attacks by U.S. regulators were the beginning of the funeral of Binance, which, like it or not, remains the leading exchange by trading volume worldwide.
The combination of these factors makes the dynamics of bitcoin and the rest of the cryptocurrency sector even more interesting.

All fears gone (or almost gone) - Bitcoin rises above $28,000

It's been an interesting morning for bitcoin as it rose to over $28,000, taking advantage of fears that were slowly disappearing. Oddly enough, those concerns were directed at the world of traditional finance and cryptocurrencies.
1. banks: is the worst behind us?
Such is the global financial situation - the markets were nervous and reactive because of genetic problems, and experienced a nightmare week amid concerns about the stability of the banking system in the U.S. and Europe. There were concerns about Deutsche Bank, but since rumors began circulating about the CDS rise because of... one deal, the fears have receded.
Of course, they're not over yet, but it's enough for the market to at least partially erase the losses of the last few days.
2. Binance: it's more complicated than it looks
The news that the CFTC is investigating Binance made everyone a little worried, including us. But after a closer look at the documents and the allegations (which we will provide you exclusively in tomorrow's issue), things have become even more complicated. In Binance's favor, it has several reasons to defend itself and make a deal more lucrative than the CFTC's dire demands.
For the exchange, it will at least partially preserve the ability to continue doing business in the U.S. For its CEO, CZ, to avoid a permanent ban on any regulated activity in the US. Is there an opportunity to do this? It appears that there is. In any case, no one wants to believe anymore in the previously spreading fears that Binance might shut down. Something has gone wrong, at least for the moment.

Price doesn't matter much

It may seem strange, but in the short term, price won't be the most important issue to pay attention to. It is certainly a good sign to see bitcoin return to such attractive price levels so quickly and erase the losses of the past two days in the blink of an eye.
Of course, the factors behind this strength can be seen by everyone, starting with those who have pointed out what it means to see a price above $27,000 after the CFTC charges.