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MainNewsETH Maintain...

ETH Maintains $3.8K Price Ahead of SEC ETF Decision, BTC Slips Below $70K (Market Watch)


ETH Maintains $3.8K Price Ahead of SEC ETF Decision, BTC Slips Below $70K (Market Watch)
May, 23, 2024
2 min read
by CryptoPotato
ETH Maintains $3.8K Price Ahead of SEC ETF Decision, BTC Slips Below $70K (Market Watch)

Bitcoin’s price movements have calmed over the past day after skyrocketing to $72,000, and the asset has even lost some ground since yesterday, currently sitting below $70,000.

Ethereum continues to present a strong front as anticipation builds for today’s SEC decision on one of the ETH ETFs.

BTC Slips Beneath $70K

Bitcoin had a quiet weekend, which it spent trading sideways, around $67,000, as the consolidation continued. However, the landscape changed substantially on Monday evening when news emerged that the US Securities and Exchange Commission could greenlight a spot Ethereum ETF as early as this week.

The primary cryptocurrency reacted quite positively to the reports and soared past $70,000 for the first time in over a month and tapped a 6-week peak of just shy of $72,000.

The bears finally stepped up at this point and didn’t allow the asset to challenge its March 2024 high of $73,750. Instead, BTC started losing value gradually by dropping to $70,000 yesterday and below that level today.

As of now, the cryptocurrency trades about $500 away from the round-numbered milestone, with its market cap down to $1.370 trillion. Its dominance over the alts has retraced by more than 1% in the past several days and is now at 50.3% on CG.

Bitcoin/Price/Chart 23.05.2024. Source: TradingView
Bitcoin/Price/Chart 23.05.2024. Source: TradingView

ETH Remains Above $3.8K

The positive news mentioned above impacted ETH the most, as expected. The underlying asset exploded by over 20% in a matter of hours and tapped a multi-week high of its own at over $3,800. With the decision looming in today on the SEC’s decision on one of the applications today, ETH’s price has remained steady at around $3,800.

TON and NEAR are the other larger-cap alts in the green today, while SOL, BNB, ADA, DOGE, AVAX, XRP, and SHIB have turned red.

PEPE has been on the run lately, charting new all-time peaks frequently, and today was no different.

The total crypto market cap has remained relatively still at just under $2.730 trillion.

Cryptocurrency Market Overview. Source: QuantifyCrypto
Cryptocurrency Market Overview. Source: QuantifyCrypto

The post ETH Maintains $3.8K Price Ahead of SEC ETF Decision, BTC Slips Below $70K (Market Watch) appeared first on CryptoPotato.

Read the article at CryptoPotato

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MainNewsETH Maintain...

ETH Maintains $3.8K Price Ahead of SEC ETF Decision, BTC Slips Below $70K (Market Watch)


ETH Maintains $3.8K Price Ahead of SEC ETF Decision, BTC Slips Below $70K (Market Watch)
May, 23, 2024
2 min read
by CryptoPotato
ETH Maintains $3.8K Price Ahead of SEC ETF Decision, BTC Slips Below $70K (Market Watch)

Bitcoin’s price movements have calmed over the past day after skyrocketing to $72,000, and the asset has even lost some ground since yesterday, currently sitting below $70,000.

Ethereum continues to present a strong front as anticipation builds for today’s SEC decision on one of the ETH ETFs.

BTC Slips Beneath $70K

Bitcoin had a quiet weekend, which it spent trading sideways, around $67,000, as the consolidation continued. However, the landscape changed substantially on Monday evening when news emerged that the US Securities and Exchange Commission could greenlight a spot Ethereum ETF as early as this week.

The primary cryptocurrency reacted quite positively to the reports and soared past $70,000 for the first time in over a month and tapped a 6-week peak of just shy of $72,000.

The bears finally stepped up at this point and didn’t allow the asset to challenge its March 2024 high of $73,750. Instead, BTC started losing value gradually by dropping to $70,000 yesterday and below that level today.

As of now, the cryptocurrency trades about $500 away from the round-numbered milestone, with its market cap down to $1.370 trillion. Its dominance over the alts has retraced by more than 1% in the past several days and is now at 50.3% on CG.

Bitcoin/Price/Chart 23.05.2024. Source: TradingView
Bitcoin/Price/Chart 23.05.2024. Source: TradingView

ETH Remains Above $3.8K

The positive news mentioned above impacted ETH the most, as expected. The underlying asset exploded by over 20% in a matter of hours and tapped a multi-week high of its own at over $3,800. With the decision looming in today on the SEC’s decision on one of the applications today, ETH’s price has remained steady at around $3,800.

TON and NEAR are the other larger-cap alts in the green today, while SOL, BNB, ADA, DOGE, AVAX, XRP, and SHIB have turned red.

PEPE has been on the run lately, charting new all-time peaks frequently, and today was no different.

The total crypto market cap has remained relatively still at just under $2.730 trillion.

Cryptocurrency Market Overview. Source: QuantifyCrypto
Cryptocurrency Market Overview. Source: QuantifyCrypto

The post ETH Maintains $3.8K Price Ahead of SEC ETF Decision, BTC Slips Below $70K (Market Watch) appeared first on CryptoPotato.

Read the article at CryptoPotato

Read More

LEAKED: Biden Admin to Attend Bitcoin Roundtable With Key Congressional Officials in DC

LEAKED: Biden Admin to Attend Bitcoin Roundtable With Key Congressional Officials in DC

The proposed meeting, led by U.S. Congressman Ro Khanna, is set to discuss how to kee...
Jun, 15, 2024
2 min read
by Bitcoin Magazine
Despite Crypto Market Downturn, TON Achieves All-Time High

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While bitcoin and the broader cryptocurrency market experienced declines over the pas...
Jun, 15, 2024
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