Bitcoin Stays Below $26K As SEC Delays ETF Decision
By Laxmikant Khanvilkar
The United States financial markets regulator – Securities Exchanges Commission (SEC) delaying its decision on approving spot Bitcoin (BTC) ETFs has dampened investor sentiment. Apparently, the prices of leading virtual digital assets (VDA) eased further during Tuesday’s trade in Asia.
BTC, Ethereum (ETH), continue to trend lower, falling below key levels as the will continue its guessing game on major cryptoassets’ direction of travel, analysts said.
BTC, the largest cryptocurrency by market capitalisation, hovered between $25,800 to $26,000 after a price spike last week. It was recently trading at $25,750.98, down 0.60%. ETH, the second largest crypto in market value, was quoting 0.62% lower in the last 24-hours to $1,625.69.
VDA entered the September on the edge of its seat as various macroeconomic and regulatory narratives continue to leave investors guessing, the analysts have said.
Elsewhere, the markets reflected similar mood, only exception being Stellar’s XLM, which had made notable gains.
The global crypto market cap lost 0.45% to $1.04 tn, over the last 24-hours. On the other hand, the total crypto market volume rose 21.88% to $24.15 bn. The total volume in DeFi is currently $2.07 bn and all stablecoins $23.04 bn, representing 8.56% and 95.38% respectively, of the total crypto market 24-hour volume. Bitcoin’s dominance increased 0.09% to 48.29%.
IC15 index, the barometer of top fifteen tokens, eased 0.55% to 33,759.32.
Meanwhile, there is expectation of SEC approving spot BTC ETFs after a federal court said the regulator must review its rejection of Grayscale’s attempt to convert the Grayscale Bitcoin Trust (GBTC) into an ETF, JPMorgan (JPM) said in a report Friday.
You need to login in order to Like
