Following a price rise last week when Bitcoin exceeded $28,000 after a federal appeals court ordered the SEC must examine its denial of Grayscale Investments’ application to have its GBTC converted into an ETF, Bitcoin has traded in a narrow range over the previous 24 hours, remaining between $25,800 and $26,000.
As the SEC postponed important ETF judgments that were anticipated on Friday, Bitcoin fell again, putting a damper on speculators’ expectations for a sustained upswing. The analyst at eToro, Simon Peters said,
As we enter September, the crypto asset market remains on the edge of its seat as various macroeconomic and regulatory narratives continue to leave investors guessing, With the route to lower rates still unclear and bitcoin spot ETF approvals still waiting, the market will continue its guessing game on major crypto assets’ direction of travel.
On Monday Stellar’s XLM was the one and only digital asset that got significant gains like 10 percent advancing on the day.
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