Despite the massive volatility BTC faced for several days last week, the cryptocurrency has stalled once again at a familiar price level of around $26,000.
Most altcoins also sit quietly today, aside from Rocket Pool, Synthetix, and Stellar, all of which are up by double digits.The primary cryptocurrency had traded sideways at around $26,000 for a long time until last Tuesday when Grayscale’s legal win over the US Securities and Exchange Commission rattled all cages.
Bitcoin, fueled by the potential of turning GBTC into a spot BTC ETF, skyrocketed by over two grand in hours and charted a multi-week peak above $28,000. While the community was preparing to see the SEC crumble, the agency made a somewhat expected move and the decision on all spot BTC ETF applications for another 45 days. This, alongside the declining hype over Grayscale’s victory, led to a massive price retracement.This is all you need not to miss any price action in the raging crypto markets. Start receiving this recap, for free, every day: