Bitcoin is poised to end August on a down beat despite the crypto industry scoring a milestone win on the regulation front. The cryptocurrency could be mired in a range during September, market participants say. The cryptocurrency is on pace for a 10% decline this month, according to Coin Metrics. Bitcoin recently jumped 7% after a federal appeals court sided with Grayscale over the Securities and Exchange Commission in a key crypto ETF case.
Bitcoin has been drifting between $25,000 and $30,000 since the banking crisis fueled a rally in March , with brief moves above $30,000 that have failed to hold. Although individual regulatory developments have served as upward baby steps, the overall lack of regulatory certainty continues to hold the market back.
Business Business Latest News, Business Business Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Grayscale's Chief Legal Officer Talks Bitcoin ETF Decision; Bitcoin Price Rallies on Grayscale Court WinGrayscale Investments Chief Legal Officer Craig Salm joins 'First Mover' to discuss the next steps after a federal court ruled the SEC must review its rejection of Grayscale’s attempt to convert the GBTC into an ETF. Kaiko Director of Research Clara Medalie discusses the market reaction as bitcoin (BTC)'s price surged on the news. Plus, former SEC Special Counsel Hermine Wong shares insights into the impact of the SEC issuing its first enforcement action targeting NFTs.
Source: CoinDesk - 🏆 291. / 63 Read more »
Source: CoinDesk - 🏆 291. / 63 Read more »