2023-09-01 01:55:23
After the Bitcoin price rally a few days ago, following Greyscale’s win over the SEC, many investors speculated that the crypto market was on the verge of a bull run.
However, getting into a bull market is not always easy as Bitcoin has recently plummeted 7% over the past 9 hours, sending Bitcoin plunging from its intraday high of $27,587. Made the lowest price at $ 25,655.
The sharp drop in the price of Bitcoin has been affected by the US SEC delaying consideration of seven candidates for spot bitcoin ETF listings, including BlackRock, WisdomTree, VanEck, Bitwise, Valkyrie and Fidelity with Invesco and Galaxy joint funds
The SEC will be given an additional 45 days to consider whether to approve, reject or delay the application once more. The last date or deadline for the next decision is between October 16 and October 19, but the SEC can choose to postpone its decision until mid-March next year. if necessary
At press time, Bitcoin price was trading at $26,007, up regarding 1% from its bottom.
Source: cointelegraph
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