These days, when the cryptocurrency market is going through a volatile period, predictions for the future of Bitcoin (BTC) are being discussed intensively.

In the face of increasing pressure from bears that has kept Bitcoin's price below the critical $30,000 level, investors and traders are carefully watching Bitcoin's next possible moves.

In light of these dynamics that determine market movements, the future path of Bitcoin remains uncertain.

At this point, an opinion from a cryptocurrency law expert reveals that Ripple's latest SEC objection to the XRP decision is not perceived as a 'setback'.

In this Bitcoin price analysis article, we will discuss, with a more detailed analysis, potential scenarios and factors that could determine Bitcoin's next movements.

According to cryptocurrency lawyer John Deaton, the latest objection in the Securities and Exchange Commission (SEC) case against Ripple Labs does not constitute a serious blow to Ripple's legal victory.

Ripple has been in a legal battle with the regulator since 2020, alleging the SEC conducted unregistered securities offerings and raised $1.3 billion.

SEC chairman Gary Gensler expressed disappointment with some aspects of the decision that could have far-reaching implications for other tokens subject to regulatory scrutiny.

eaton believes the 2nd Circuit's decision is unlikely to be issued for another two years. Until then, the "Torres Decision" will continue to apply.

In a tweet, Deaton emphasized that the appeal would create greater challenges for the SEC.

He noted that it is much more difficult for the SEC to prove the expectation of profit from the efforts of others than to show a common business relationship under the Howey Test.

This statement by Deaton helped mitigate further losses in BTC value on Monday.

Bitcoin Price Prediction

BTC/USD technical analysis shows that Bitcoin is currently in a bearish trend and the price has fallen to the $29,157 level.

This decline exceeded the narrow trading range between $31,400 and $29,600 that we discussed in the Asian session.

The break below the $29,600 level created further selling pressure, potentially sending Bitcoin's price down to the $28,000 level.

If the bearish momentum continues, there is a possibility that Bitcoin could decline further to reach the $27,700 level.

On the upside, a rally above the $29,500 level could push Bitcoin towards the $30,300 level. If this bullish momentum continues, Bitcoin could target the $31,150 level.

Traders need to monitor these key levels closely to gauge potential price movements and make informed trading decisions.

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