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Both parties argue the CFTC's move to regulate prediction markets is an overreach, with Dragonfly arguing that the recent 'Chevron' court ruling limits its power.

According to recent analysis on CryptoQuant, Bitcoin (BTC) is showing signs of hitting a "local bottom" in the recent early August sell-off.

Crypto markets lack a clear anchor and are susceptible to continued position adjustments based on traditional finance markets, one analyst said.

Crypto markets lack a clear anchor and are susceptible to continued position adjustments based on traditional finance markets, one analyst said.

Investing.com-- Bitcoin price fell on Monday, extending a sell-off seen over the weekend as sentiment towards crypto markets remained frail following a deep rout over the past month.

Both parties argue the CFTC's move to regulate prediction markets is an overreach, with Dragonfly arguing that the recent 'Chevron' court ruling limits its power.