• News
    • Bitcoin
    • Altcoins
    • Blockchain
    • DeFi
    • Regulation
    • Scams
  • NFT
  • Metaverse
  • Analysis
  • Learn
  • Market Cap
  • Shop
What's Hot

US Treasury sanctions Philippines tech firm over aiding $200 million pig butchering spree

2025-05-30

What Is Asset Tokenization? Types, Why It Matters Now [2025]

2025-05-30

Key Innovations, Challenges, and What Comes Next

2025-05-27
Facebook Twitter Instagram
  • Contact
  • Terms & Conditions
  • Privacy Policy
  • DMCA
  • Financial Disclosure
Twitter Instagram YouTube
Crypto Semantic
  • News
    • Bitcoin
    • Altcoins
    • Blockchain
    • DeFi
    • Regulation
    • Scams
  • NFT

    All Eyes on Art: Upcoming Collections to Watch the Week of January 28

    2025-02-03

    Op-Ed: The Artist and the Artificial Sublime

    2025-01-20

    Zora launches onchain NFT secondary markets with Uniswap

    2024-08-12

    NFT sales surge led by DMarket on Ethereum

    2024-08-12

    Top NFT Collections by Sales This Week: DMarket Surges Ahead

    2024-08-11
  • Metaverse

    Shib: The Metaverse – Part of the Expanding Shiba Inu Ecosystem

    2025-01-03

    Experience to Earn: Everdome’s Metaverse Frontier

    2024-12-30

    Beyond Bots: Meta Motivo and the Dawn of Humanlike Digital Life

    2024-12-13

    Exploring NetVRk: What Is Behind This AI-Driven Virtual Universe?

    2024-10-28

    Council of Europe Highlights Metaverse’s Impact on Privacy and Democracy

    2024-09-05
  • Analysis

    Analyst Says Momentum Is Going To Switch to Ethereum, Predicts Capital Rotation to Altcoins

    2024-02-20

    Bitcoin Price Rally In Jeopardy? Decoding Key Hurdles To More Upsides

    2024-02-19

    Arweave’s AR token hits 18-month high amid rapid growth and innovation

    2024-02-19

    Largest Bitcoin Whales Gobble Up Nearly $13,000,000,000 Worth of BTC in 2024 Alone: Santiment

    2024-02-19

    NEAR Skyrockets 30% – Investors Intrigued By These Metrics

    2024-02-19
  • Learn

    What Is Asset Tokenization? Types, Why It Matters Now [2025]

    2025-05-30

    Key Innovations, Challenges, and What Comes Next

    2025-05-27

    What Is Crypto Margin Trading? A Beginner-Friendly Guide to Leverage

    2025-05-26

    Types, Use Cases and Why They Matter

    2025-05-24

    What’s the Real Difference for Beginners?

    2025-05-24
  • Market Cap
  • Shop
Crypto Semantic
Home»Bitcoin»Bitcoin Price Crashes Below $26,000 As SEC Pushes Back On 7 Spot ETF Filings
Bitcoin

Bitcoin Price Crashes Below $26,000 As SEC Pushes Back On 7 Spot ETF Filings

2023-09-01Updated:2023-09-01No Comments3 Mins Read
Share
Facebook Twitter LinkedIn Pinterest Email

On August 29, flagship cryptocurrency Bitcoin soared to as excessive as $28,000 following Grayscale’s victory. Nonetheless, it has now misplaced these good points because the US Securities and Alternate Fee (SEC) selected to delay its selections on seven Spot ETF purposes. 

Bitcoin Crashes Beneath $26,000

Bitcoin dropped by over 4% to $26,000 because the SEC prolonged the timeline to determine on the ETF purposes of BlackRock, WisdomTree, Invesco, Constancy, Valkyrie, VanEck, and Bitwise.

This worth motion contrasts with when the cryptocurrency had reacted positively to the information of Grayscale’s victory, with the US Court docket of Appeals ruling in favor of the asset supervisor towards the Fee. 

Many had seemed ahead to the SEC’s determination in these ETF purposes following Grayscale’s victory, hoping that the authorized loss would have softened the regulator into approving these purposes. 

Nonetheless, Bloomberg ETF analyst Eric Balchunas had stated earlier that he wouldn’t be “stunned” if the SEC delayed these purposes. Based on him, these timelines might not matter as a lot because the SEC remains to be more likely to “give in” sooner or later, and we are going to ultimately see the approval of those purposes. 

Following this extension, the SEC can have one other 45 days to evaluation these purposes and select whether or not to approve, deny, or delay its determination. The regulator additionally has a most of 240 days to determine whether or not or to not approve or disapprove these purposes. Nonetheless, it has a number of key deadlines in between.

Bitcoin price chart from Tradingview.com (Spot Bitcoin ETF)

BTC worth falls under $26,000 following SEC determination | Supply: BTCUSD on Tradingview.com

What’s Subsequent For BTC?

Many have projected the approval of a Spot Bitcoin ETF as one of many key occasions that would spark a major surge in Bitcoin’s worth (as we noticed how the market reacted following Grayscale’s victory). Nonetheless, the SEC’s determination to delay these purposes exhibits that it’s not able to again down simply but, and there may very well be continued resistance to approving a Spot Bitcoin ETF.

See also  UK Regulators Greenlight Crypto-Based Exchange Traded Notes (ETNs) As Bitcoin Hits New All-Time High

Whereas the approval of a Spot Bitcoin ETF stays unsure, Bitcoin could also be hanging within the pink all through this month. Based on historic information, September has at all times been identified to be bearish for Bitcoin’s worth because the digital asset has closed within the pink most occasions on the finish of September. 

In the meantime, October appears extra promising as there are main days to observe as Bloomberg analyst James Seyffart noted that the SEC’s subsequent deadline for these ETF purposes is in October. Ethereum Futures ETFs are additionally expected to launch in October, which may very well be a significant increase for the market.

Regardless of this, analysts aren’t hopeful of Bitcoin hitting any new highs this 12 months, as one predicts that Bitcoin may consolidate between $25,000 and $32,000 for the rest of this 12 months.

I received’t be stunned to see #Bitcoin consolidate between $25,000 – $32,000 for the rest of 2023. pic.twitter.com/2BihBPZaCJ

— Crypto Rover (@rovercrc) August 31, 2023

Featured picture from iStock, chart from Tradingview.com



Source link

Bitcoin Crashes ETF filings Price Pushes SEC Spot
Share. Facebook Twitter Pinterest LinkedIn Tumblr Email

Related Posts

Bitcoin vs. Altcoins: What Are The Differences?

2025-02-26

What Can You Buy with Bitcoin? Everything You Need to Know

2025-02-14

Ethereum vs Bitcoin: Difference Between this Cryptocurrencies

2025-02-07

Uniswap (UNI) Price Prediction 2025 2026 2027

2025-01-08
Add A Comment

Leave A Reply Cancel Reply

Top Posts
NFT

Floor Protocol Announces V2 Beta for NFT Index and Yield Earning

2024-06-24

Ground Protocol, the pioneer behind BT404, the world’s first NFT index that enables customers to…

Altcoins

Top Altcoins to Watch Next Week: SOL, BNB, MATIC Price May Break Resistance

2023-05-14

Because the crypto market continues to display its excessive volatility influenced by latest financial fluctuations,…

Regulation

US Senators Pen Letter to Jerome Powell, Urging Fed Chair To Cut Interest Rates

2024-06-12

Two US senators are urging Federal Reserve Chair Jerome Powell to chop rates of interest…

Subscribe to Updates

Get the latest news and Update from Crypto Semantic about Crypto, Metaverse and NFT.

About
About

Our mission is to develop a community of people who try to make financially sound decisions. The website strives to educate individuals in making wise choices about Cryptocurrencies, NFT, Metaverse and more.

We're social. Connect with us:

Twitter Instagram
Popular Post

Telegram Trading Bot Token Rips by More Than 124% This Week As Project Unveils Early Access to New Terminal

2023-07-29

Bidding on Dookey Dash winning key rises to $1.6 million

2023-02-27

DeFi platforms Lido and Aave surpass Bitcoin and Ethereum in fee generation

2024-05-13

Get the latest news and Update from Crypto Semantic about Crypto, Metaverse and NFT.

  • Contact
  • Terms & Conditions
  • Privacy Policy
  • DMCA
  • Financial Disclosure
© 2025 cryptosemantic.com. Designed by ProdigitalX.

Type above and press Enter to search. Press Esc to cancel.

  • Kinza Babylon Staked BTCKinza Babylon Staked BTC(KBTC)$83,270.000.00%
  • Vested XORVested XOR(VXOR)$3,404.231,000.00%
  • ICPanda DAOICPanda DAO(PANDA)$0.003106-39.39%
  • bitcoinBitcoin(BTC)$103,488.00-1.83%
  • ethereumEthereum(ETH)$2,523.12-3.35%
  • tetherTether(USDT)$1.000.00%
  • rippleXRP(XRP)$2.14-2.25%
  • binancecoinBNB(BNB)$654.64-2.27%
  • solanaSolana(SOL)$153.90-5.48%
  • usd-coinUSDC(USDC)$1.000.00%
bitcoin
Bitcoin (BTC) $ 103,615.76
ethereum
Ethereum (ETH) $ 2,522.97
tether
Tether (USDT) $ 1.00
xrp
XRP (XRP) $ 2.14
bnb
BNB (BNB) $ 653.80
solana
Solana (SOL) $ 154.45
usd-coin
USDC (USDC) $ 1.00
dogecoin
Dogecoin (DOGE) $ 0.188231
tron
TRON (TRX) $ 0.268517
cardano
Cardano (ADA) $ 0.666837