Bitcoin market overview: SEC delays ETF decision again, BTC/USD price falls down
|- SEC has postponed the decision until October.
- The price dropped from $11,535 to $11,385 this Monday and is currently priced at $11,370.
The U.S. Securities and Exchange Commission (SEC) has dealt a major blow to the crypto community by delaying their decision to approve two Bitcoin exchange-traded funds (ETF). The decision has been postponed until October. The two ETF proposals were - Bitwise Bitcoin ETF Trust and the VanEck SolidX Bitcoin Trust.
Bloomberg reached out to Bitwise and SEC representatives for a comment, but none of them responded. Last year the agency rejected an exchange’s request to list a Bitcoin ETF backed by the Winklevoss brothers.
BTC/USD daily chart
BTC/USD went down from $11,535 to $11,385 this Monday. This Tuesday, BTC/USD has had a bearish breakout from the triangle formation and has gone down to $11,370. The 50-day simple moving average (SMA 50) curve acts as immediate support. The 20-day Bollinger jaw is widening, which shows increasing market volatility. The moving average convergence/divergence (MACD) shows decreasing market volatility. The Elliot oscillator has had two straight bearish sessions.
Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers.