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.

Bitcoin slips below $90,000 as Trump's tariffs swing, ETF outflows pressure price

Bitcoin price struggles below $90,000 on Friday, correcting nearly 5% so far this week. Trump’s Davos speech on Wednesday, backing away from imposing further tariffs on the EU, triggered market volatility and risk-on mood.

Ripple holds losses above $1.90 amid mild ETF inflows, muted retail interest

Ripple is trading under pressure, hovering above the immediate support level at $1.90 at the time of writing on Friday. Despite mild inflows into spot ETFs, XRP has declined for a second consecutive day, reflecting weak retail demand and persistent selling pressure.

Pump.fun sees bearish reversal despite buyback

Pump.fun trades below $0.0025 at the time of writing on Friday, after a nearly 7% decline from the 50-day Exponential Moving Average at $0.002601. The recent purchase of over $1 million in PUMP tokens failed to revive retail support, as PUMP futures continue to see capital outflow.

Crypto Today: Bitcoin, Ethereum, XRP face elevated downside risk amid weak technical setups

Bitcoin is struggling to stay above support at $89,000 at the time of writing, as headwinds intensify across the cryptocurrency market on Friday. Ethereum and Ripple are facing low retail and institutional demand, while bearish indicators continue to flash subtle signals that losses may extend further.

Bitcoin Price Annual Forecast: BTC holds long-term bullish structure heading into 2026

Bitcoin (BTC) is wrapping up 2025 as one of its most eventful years, defined by unprecedented institutional participation, major regulatory developments, and extreme price volatility.

Bitcoin: BTC slips below $90,000 as Trump's tariffs swing, ETF outflows pressure price

Bitcoin (BTC) is trading below $90,000 at the time of writing on Friday, down nearly 5% this week. Despite a brief improvement in risk appetite following US President Donald Trump’s mid-week speech at Davos, the Crypto King remains under pressure as institutional demand continued to weaken so far this week.