Bitcoin (BTC<\/a>) stayed steady near $17,000 at the Dec. 12 Wall Street open as news involving Binance failed to spark BTC price downside.<\/p>\n Data from Cointelegraph Markets Pro<\/a> and TradingView<\/a> showed BTC\/USD avoiding fresh volatility as United States markets opened.<\/p>\n Having traded sideways<\/a> throughout the weekend, the pair offered few cues to analysts, who were waiting for U.S. macroeconomic data to shake up the status quo.<\/p>\n This, in the form of the November Consumer Price Index (CPI) print, would nonetheless be a pivotal moment for crypto assets, they agreed<\/a>, with the potential for significant upside and downside hinging on the numbers, due Dec. 13.<\/p>\n Subsequent events involving the Federal Reserve would equally shape price performance, they said. <\/p>\n In the meantime, however, Bitcoin appeared to shrug off news that largest global exchange Binance was reportedly the target of a U.S. money laundering lawsuit<\/a>.<\/p>\n Appearing in Reuters, a report stated that the Department of Justice (DoJ) was undecided over whether to bring charges against Binance and its CEO, Changpeng Zhao, after an investigation which it began in 2018. <\/p>\n This followed fresh concerns over the exchange\u2019s proof of reserves<\/a>, which various commentators nonetheless labeled<\/a> \u201cFUD\u201d as it spread through the media.<\/p>\n \u201cBitcoin remains stable, altcoins losing value, $BTC dominance bouncing upwards and currently rallying,\u201d Micha\u00ebl van de Poppe, founder and CEO of trading firm Eight, wrote<\/a> in part of a summary on the day. <\/p>\n Van de Poppe noted that market participants were still \u201cscared\u201d due to upcoming macro data and legal events tied to the FTX scandal.<\/p>\n Crypto sentiment more broadly remained stronger than the worst case scenario, as per the Crypto Fear & Greed Index<\/a>, which measured 27\/100 on the day \u2014 still above its lowes \u201cextreme fear\u201d zone.<\/p>\n On the topic of near-term market action, there were fresh bearish warnings for both crypto and risk assets.<\/p>\n Related:\u00a0\u2018Biggest week of the year\u2019 \u2014 5 things to know in Bitcoin this week<\/a><\/em><\/strong><\/p>\n Popular trader Moustache turned to U.S. stocks to remind followers that despite the Fed potentially pivoting on rate hikes, historically, this did not mark a turning point for performance.<\/p>\n \u201cDon’t forget that the stock market has crashed very hard every time in history AFTER the FED’s Pivot,\u201d he commented<\/a> alongside a chart. <\/p>\n \u201cPossible that the market will make a rally, because of the expectations of a pivot. After the official announcement: Sell the news.\u201d <\/p><\/blockquote>\n He added that the result could be a \u201cfinal bottom for $BTC.\u201d<\/p>\n![](\"https:\/\/s3.cointelegraph.com\/uploads\/2022-12\/bf569485-77d7-4267-9ee7-a1b6d01264c9.png\")
Factors line up to “scare” Bitcoin trade<\/h2>\n
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Risk-asset bottom could come after Fed pivot<\/h2>\n
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