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Bitcoin Starts The Week Trading Below $26k Following Last Week’s Rollercoaster Performance

Twitter icon  •  Published il y a 7 mois  •  Hassan Maishera

Bitcoin has started the new week trading below the $26k level following last week’s rollercoaster performance by the leading cryptocurrency.

TL;DR

  • Bitcoin starts the week trading below $26k despite trading in the green zone.

  • BTC rallied to the $28k mark before retracing below $26k after the SEC postponed its decisions on spot Bitcoin ETFs.

Bitcoin Continues To Trade Below $26k

Bitcoin, the world’s leading cryptocurrency by market cap, has started the new week trading below the $26k mark. BTC dropped below $26k last week after the US SEC postponed its decisions on the spot Bitcoin ETFs.

The regulatory agency has said that it would not decide on the spot Bitcoin ETF applications for now, including those filed by Fidelity and BlackRock. The news saw BTC lose more than 5% of its value last week and dropped below the $26k level.

At press time, the price of Bitcoin stands at $25,959, up by less than 1% in the last 24 hours. There is no immediate catalyst that could push BTC’s price lower or higher, and the cryptocurrency might be consolidating over the next few hours and days.

Ether, the second-largest cryptocurrency by market cap, is also trading above the $1,600 level, up by less than 1% in the last 24 hours. 

The total cryptocurrency market cap currently stands at $1.05 trillion, up by less than 1% today.

 

Author

Hassan Maishera

Hassan is a Nigeria-based financial content creator that has invested in many different blockchain projects, including Bitcoin, Ether, Stellar Lumens, Cardano, VeChain and Solana. He currently works as a financial markets and cryptocurrency writer and has contributed to a large number of the leading FX, stock and cryptocurrency blogs in the world.