The crypto market is quite susceptible to ETF approvals, as it seems, and the past 24 hours brought even more enhanced volatility for the entire sector.
After the hype from the start of the business week settled, the largest cryptocurrencies, including the one that got the green light from the SEC, have turned red.The start of the current business week couldn’t really foresee what was going to happen. BTC had calmed at around $67,000 after the quiet weekend, but it all changed on Monday evening when reports emerged that the SEC could actually greenlight a spot Ethereum ETF by the end of the week.by five grand in hours.
The rally came to a halt at that point and BTC started losing value gradually. Still, it traded in a range around $70,000 until yesterday evening when itby a few grand to under $68,000. This came hours before the SEC’s deadline to make a decision on whether it will approve or reject all ETF applications.This is all you need not to miss any price action in the raging crypto markets.
The rest of the larger-cap alts are in no better state. Solana, Dogecoin, Toncoin, Cardano, Avalanche, Polkadot, and Shiba Inu have all dumped by 5-8%. BNB, XRP, TRX, and BCH are also in the red. The total crypto market cap has lost over $100 billion since yesterday and is down to $2.617 trillion on CG.Disclaimer: Information found on CryptoPotato is those of writers quoted. It does not represent the opinions of CryptoPotato on whether to buy, sell, or hold any investments. You are advised to conduct your own research before making any investment decisions. Use provided information at your own risk. See Disclaimer for more information.
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