The four most famous international exchanges:

Binance INTL	OKX INTL	Gate.io INTL	Huobi INTL
China Line　APP DL	China Line　APP DL	China Line　APP DL	China Line　APP DL

Note: The above exchange logo is the official website registration link, and the text is the APP download link.

Bitcoin has recovered from a three-month low, but it still faces tighter regulations. Data from the trading platform Bitstamp shows that at around 15:45 Beijing time on the 6th, Bitcoin fell below US$6,000. As of the update on the 7th, it was back above US$8,000, with a cumulative increase of more than 13% in the last 24 hours. The top ten digital currencies rebounded collectively, with all declines in the last 24 hours turning up, with the largest increase exceeding 24%.

As of recently exceeding 24%, Ethereum, which fell below $580 on the 6th, rose by about 11%, approaching $800. Ripple, which fell below $0.6 on the 6th, returned to above $0.7. In an update, data from Coinmarketcap, a website that tracks the market value and price of digital currencies, shows that the top ten digital currencies by market value have collectively risen in the past 24 hours. The maximum increase was more than 24%. Ethereum, which fell below $580 on the 6th, rose by about 11%, approaching $800. Ripple, which fell below $0.6 on the 6th, returned to above $0.7.

When Bitcoin came out of its three-month trough, on the 6th U.S. time, Jayson Clayton of the U.S. Securities and Exchange Commission (SEC) and Chairman of the Commodity Futures Trading Commission (CFTC)
Christopher Giancarlo both testified at the Senate hearing, and they released signals to strengthen legislation while being optimistic about blockchain technology.

In pre-released testimony, Giancarlo said that digital currencies may require more careful regulatory oversight in light of market fraud and manipulation, but he is optimistic about blockchain technology and the same way he treats the development of the Internet, "'Do no harm' is the distribution The right way to develop accounting technology."

Giancarlo concluded that the SEC and CFTC should do everything they can to leave room for digital currencies to grow. Digital currencies mark a paradigm shift in payments, traditional financing processes and participation in economic activities. It would be irresponsible for regulation to ignore these developments.

Clayton said that investors in digital currencies need comprehensive protection, and the SEC may support the U.S. Department of the Treasury and the Federal Reserve in requesting additional legislation related to digital currencies. He does not deny the role of digital currencies in the modern financial ecosystem.

When a senator asked Ginacarlo about the value of Bitcoin, he responded: “Without Bitcoin, there would be no distributed ledger technology.”

Both Ginacarlo and Clayton knew that digital currencies would be important to developing this technology. Ginacarlo also said that the minimum value of Bitcoin may not be zero because the value of Bitcoin “is tied to mining.”

Reuters quoted John, managing partner of Blockchain Momentum LP
Sarson commented that Bitcoin’s recent weakness stems from tightening liquidity and recent profit-taking, and does not reflect Bitcoin’s long-term prospects. This sell-off will attract institutions to move quickly and adopt enhanced digital asset services before prices return to highs.