The euphoria over the partial legal victory of the Ripple exchange and ETFs seems to be fading as most cryptocurrencies trend lower.
He Bitcoin rises 0.13% this Friday, July 21although it fell, it falls 0.3% in the last 24 hours and is located in the US$29,864, while Ethereum yields 0.05% to US$1,893.82 and lost 0.75% in 24 hours. Thus, the negative trend of the last week deepens for the two main cryptocurrencies of the world.
Euphoria over partial legal victory for Ripple exchange and ETFs seems to be fading as most cryptocurrencies trend lower and the market capitalization of the tokens falls. BTC continues to trade below the $30,000 mark and Ethereum (ETH) it missed the $1,900 mark.
The market of cryptocurrencies turned around this Thursday and began to fall this Thursday, after the Bitcoin (BTC) crossed the barrier again u$s30,000, and that is confirmed this Wednesday with the losses registered.
What is happening with Bitcoin
The SEC accepted a second spot Bitcoin ETF for review, it is the Valkyrie spot Bitcoin ETF, just days after the SEC published BlackRock’s spot Bitcoin ETF proposal on July 13.
There was an initial price jump, but now they are falling and Craig ErlamSenior Market Analyst OANDAwarned that the BTC “seems vulnerable to a new fall” and argued that there is the possibility of a “significant break down“, which would take Bitcoin towards “the next key zone of support“, located around US$28,000.
While the trading volume of BTC increased a 3.15%, according to Coinmarketcap, It is a low increase compared to the 600% that of the previous day.
What crypto investors expect
On the other hand, the index that measures the behavior of investors in the main exchanges, marks a neutral feeling in the ecosystem.
Some analysts pose objectives to the Bitcoin drops to $27,000. Others see potential for the 2023 uptrend to return.
Source: Ambito
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