Bitcoin (BTC/USD) comes under pressure after the SEC confirm CBOE Global Markets Inc are dropping Bitcoin product plans

The U.S. Securities and Exchange Commission today confirmed the CBOEhas dropped their Bitcoin preoposal plans.
BTC/USD moving towards the $3500 mark to the downside again, key near-term support.

Ken Chigbo Independent Analyst

CBOE Global Markets Inc are dropping their proposal to list an exchange traded based product, which would have tracked the price of the number one cryptocurrency by market cap, Bitcoin. This was coming from an official press release directly from The U.S. Securities and Exchange Commission today.

This is somewhat negative for cryptocurrency market sentiment. The CBOE had initially sent its plans of intention to the commission in June 2018, to list the VanEck SolidX Bitcoin Trust, as detailed in the regulators filing.

Bitcoin price coming under minor downside pressure, as so it seems on this gathering pace of attention across the news wires. BTC/USD was seen heading towards big near-term support of the $3500 mark.

BTC/USD daily chart

Author

Ken Chigbo

Independent Analyst

Ken has over 8 years exposure to the financial markets. He started his career as an analyst, covering a variety of asset classes; forex, fixed income, commodities and equities.

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