Cryptocurrency Price Today: When Bitcoin falls below $42,000, the KuCoin Token becomes the top gainer

Quick analysis of the cryptocurrency pricing on December 5: The worldwide market capitalization fell to $1.57 trillion.

Bitcoin (BTC), the world’s oldest and most valuable cryptocurrency, fell below $42,000 early Tuesday. Popular altcoins, such as Ethereum (ETH), Solana (SOL), Ripple (XRP), Litecoin (LTC), and Dogecoin (DOGE), also experienced slight drops. KuCoin Token (KCS) was the largest gainer, jumping more than 28 percent in 24 hours. Terra (LUNA), on the other hand, became the biggest loser, losing more than 6% in a 24-hour period.

At the time of writing, the worldwide crypto market cap was $1.57 trillion, representing a 0.54 percent 24-hour loss.

Bitcoin Price Today

According to CoinMarketCap, the price of bitcoin was $41,708.81 after a 1.39 percent drop in the previous 24 hours.

Ethereum Price Today

At the time of writing, the price of ETH was $2,231, representing a 0.85 percent 24-hour loss.

Dogecoin Price Today

According to CoinMarketCap data, DOGE has lost 5.31 percent in the last 24 hours and is currently trading at $0.09634.

Litecoin Price Today

Litecoin fell 1.17 percent in a 24-hour period. It was trading at $73.12 at the time of writing.

Ripple Price Today

The price of XRP was $0.6242 after a 0.74 percent decline in 24 hours.

Solana Price Today

Solana was up 0.19 percent in 24 hours to $71.09.

Crypto Week Ahead: Bitcoin-Compatible The Argentinean President Javier Milei’s victory brings about a much-needed price rally

The price of Bitcoin (BTC) reached a high of $37,878.59 during the last seven days.

The most popular and valuable cryptocurrency in the world, Bitcoin (BTC), broke through the $37,000 mark this morning. This increase in the value of Bitcoin followed the successful outcome of the Argentine presidential election, won by Javier Milei, who is well-known for his support of Bitcoin. Ethereum (ETH) had a significant increase as well, breaking beyond the $2,000 barrier. The boost in market interest that followed Fidelity’s announcement that it intended to develop an Ethereum exchange-traded fund (ETF) was blamed for this spike in Ethereum’s value.

Readers should be aware that coin prices and the cryptocurrency market as a whole are very erratic before continuing. It is impossible to predict with certainty how cryptocurrencies will perform in the future. The purpose of this article is to assist investors in staying abreast of the most significant events that have already occurred, as well as some noteworthy forthcoming events and current market circumstances. Before taking any calls, investors are recommended to conduct their own research.

The Weekly Prices of Cryptocurrencies

The value of the entire cryptocurrency market was $1.42 trillion. The price of ETH was roughly $2,040, and the price of BTC was approximately $37,030.

The total market capitalization fell to $1.41 trillion a week later.

With a total volume of $4.51 billion, DeFi accounts for 11.35 percent of the market’s 24-hour volume. Stablecoins represent 87.93 percent of the 24-hour market volume with an aggregate volume of $34.94 billion. According to CoinMarketCap, the general market fear and greed index was at 74 points (out of 100), or “Greed,” indicating that investors’ confidence has not decreased from the previous week.

The dominance of BTC was 51.41 percent at the time of writing.

Bitcoin reached a high of $37,878.59 on November 16 and a low of $35,134.67 on November 15 over the last seven days.

Conversely, Ethereum saw a low of $1,916.01 on November 17 and a high of $2,115.78 on November 13.

Crypto Events To Note

Argentina’s next president is expected to be Javier Milei, since competitor Sergio Massa conceded defeat on Sunday night, stating that “Argentines chose another path.” As per Bloomberg, with almost 87% of the ballots counted, Milei holds 56% of the vote, while Massa is in second place with 44%. This political change prompted a reaction from the cryptocurrency market, with bitcoin (BTC) seeing a significant spike late on Sunday afternoon amid rumours of Milei’s outstanding performance.

In the 24 hours that have passed since Massa’s concession, the value of Bitcoin has increased by over 3% to $37,350. Milei announced his opinions on the central bank earlier this year, saying, “We have to understand that the central bank is a scam.” In response to a question concerning Bitcoin, he underlined its importance as a symbol of giving money back to the private sector, where it originated. Milei has not specifically suggested making Bitcoin legal cash at this time, even though he has called for the dismantling of Argentina’s central bank and the dollarization of an economy that was facing an astounding 142 percent inflation rate in October.

In addition, there has been an unusual increase in the price of Ethereum. Financial behemoth Fidelity announced in a filing on Friday that it plans to introduce an exchange-traded fund (ETF) that will track Ethereum’s ether (ETH), following in the footsteps of rival BlackRock to increase its presence in the cryptocurrency market.

There are plans to list the proposed Fidelity Ethereum Fund on an exchange connected to Cboe Global Markets. The intentions for this possible product are revealed in the file, which was made public by Cboe Global Markets. However, the U.S. Securities and Exchange Commission (SEC), which must approve these investment vehicles, will ultimately determine the fate of ether ETFs, including Fidelity’s and others like BlackRock’s. Earlier this month, BlackRock unveiled its own proposal for an exchange-traded fund (ETF), stoking more interest in bitcoin investing potential.

Last but not least, there is some bad news: the US Securities and Exchange Commission (SEC) has revealed that the approval of spot Bitcoin ETF applications from Global X and Franklin Templeton has been delayed. Due to the delays, the SEC has extended the deadlines for Franklin Templeton, which is today, and Global X, which is November 21. The new deadlines will take effect in early 2024.

The decision-making process’s delay was somewhat expected, given the low expectations for this week’s spot Bitcoin ETF approvals. At $36,450, the current trading value of Bitcoin (BTC) indicates a little gain for the day.

Cryptocurrency Price Today: Bitcoin Rises Above $37,000 Once More, With Major Gains in Top Coins

Quick analysis of the cryptocurrency pricing on November 15: The total market value increased by $1.43 trillion.

After a day of decline, Bitcoin (BTC), the world’s oldest and most valuable cryptocurrency, was able to surpass $37,000 once more. Ethereum (ETH), which also crossed the $2,000 threshold, participated in the rise. Riding high on optimistic market sentiment, several well-known altcoins, such as Solana (SOL), Dogecoin (DOGE), Ripple (XRP), and Litecoin (LTC), were able to soar to great heights. The token that gained the most in a day was ETHDYDX, with a surge of around 25%. OKB saw the largest loss over a 24-hour period, falling more than 6 percent.

At the time of writing, the value of the entire cryptocurrency market was $1.43 trillion, an increase of 5.15 percent in a day.

Bitcoin Price Today

According to CoinMarketCap, the price of bitcoin increased by 5.59 percent in a day to $37,418.66. As to the Indian exchange WazirX, the current value of Bitcoin was Rs 32.70 lakh.

Ethereum Price Today

As of the publication of this article, the price of ETH was $2,050.53, up 3.84 percent in just 24 hours. Ethereum’s price in India was Rs 1.80 lakh, according to WazirX.

Dogecoin Price Today

According to CoinMarketCap data, DOGE experienced a 5.51 percent 24-hour gain, with a current price of $0.07671. The price of Dogecoin in India was Rs 6.57, according to WazirX.

Litecoin Price Today

Litecoin gained 3.40 percent in a day. When I wrote this, its trading price was $73.72. In India, the cost of LTC was Rs 6,380.

Ripple Price Today

The price of XRP was $0.6475 after rising 3.02 percent in a day. WazirX said that the price of Ripple was Rs 55.99.

Solana Price Today

The price of solana was $66.33, up 15.54 percent in a day. WazirX reports that the price of SOL in India was Rs 5,075.05.

Cryptocurrency Price Today: When Bitcoin Drops Below $35,000, BLUR Rises to the Top

Quick analysis of the cryptocurrency pricing on November 7: At $1.32 trillion, the market capitalization was global.

Tuesday morning saw a fall in the price of Bitcoin (BTC), signalling a downturn following several days of significant increases. According to CoinMarketCap, the total market’s Fear & Greed Index was 73 (greed). Well-known altcoins, including as Litecoin (LTC), Dogecoin (DOGE), Ripple (XRP), and Ethereum (ETH), performed well overall. Blur (BLUR) saw the largest gain of all, rising more than 19% in a single day. However, Immutable (IMX) lost more than 10% of its value in a day, making it the greatest loser.

At the time of writing, the value of the entire cryptocurrency market was $1.32 trillion, a gain of 0.30 percent in a day.

Bitcoin Price Today

According to CoinMarketCap, the price of bitcoin was $34,885.97, representing a 0.18 percent decline over the course of a day. As per the Indian exchange WazirX, the current price of Bitcoin was Rs 30.05 lakh.

Ethereum Price Today

At the time of writing, the price of ETH was $1,888.52, a 0.20 percent increase in just one day. Ethereum’s price in India was Rs 1.65 lakh, according to WazirX.

Dogecoin Price Today

According to CoinMarketCap data, DOGE saw a gain of 3.93 percent in a 24-hour period and is currently trading at $0.07457. The price of Dogecoin in India was Rs 6.41, according to WazirX.

Litecoin Price Today

Litecoin increased by 1.99% in a single day. As of writing, its trading price was $73.18%. In India, the cost of LTC was Rs 6,200.05.

Ripple Price Today

The price of XRP was $0.688 after rising 0.98 percent in a day. WazirX reported that the price of ripple was Rs 59.60.

Solana Price Today

The price of Solana was $40.81, down 0.37 percent in a day. The price of SOL in India was Rs 3,511.01, according to WazirX.

Cryptocurrency Price Today: Bitcoin Regains Steam Following FTX Ruling, EGLD Jumps More Than 37%

Quick analysis of the cryptocurrency pricing on November 6: The worldwide market capitalization increased to $1.32 trillion.

Bitcoin (BTC) reclaimed the $35,000 milestone early Monday, reversing a small drop following the conviction of embattled crypto platform FTX creator Sam Bankman-Fried for money laundering. According to CoinMarketCap, the total market’s Fear & Greed Index was 73 (greed). Popular altcoins, such as Ethereum (ETH), Dogecoin (DOGE), Ripple (XRP), and Litecoin (LTC), all finished in the green. MultiversX (EGLD) was the highest gainer of the day, gaining more than 37% in a single day. GateToken (GT), on the other hand, became the biggest loser, losing more over 1% in a 24-hour period.

Bitcoin Price Today

According to CoinMarketCap, the price of bitcoin was $35,032.16, representing a 0.81 percent decline in a 24-hour period. According to the Indian exchange WazirX, the price of Bitcoin was Rs 30 lakh.

Ethereum Price Today

At the time of writing, the price of ETH was $1,887.45, representing a 0.20 percent 24-hour increase. According to WazirX, the current price of Ethereum in India is Rs 1.62 lakh.

Dogecoin Price Today

DOGE gained 2.80 percent in a 24-hour period, according to CoinMarketCap data, and is currently trading at $0.07185. According to WazirX, the Dogecoin price in India is Rs 6.11.

Litecoin Price Today

Litecoin gained 0.49 percent in a 24-hour period. It was trading at $71.85 at the time of writing. In India, the price of LTC was Rs 6,128.86.

Ripple Price Today

The price of XRP was $0.683, representing a 9.35 percent gain in a 24-hour period. According to WazirX, the current price of Ripple is Rs 59.04.

Solana Price Today

Solana was trading at $41.19, down 3.46 percent in 24 hours. According to WazirX, the SOL price in India is Rs 3,508.86.

Bitcoin Weekly Forecast: BTC may fall to $30,000 due to a lack of ETF news

On a daily basis, the Bitcoin (BTC) price exhibits not one, but numerous sell signals. To make matters worse, on-chain data reveal widespread profit-taking. While the rise fueled by the probable ETF approval has boosted BTC so far, the lack of it could send the pioneer cryptocurrency lower.

Bitcoin ETF news is critical to the continued rally.

For some years, the approval of a Bitcoin spot Exchange-Traded Fund (ETF) has been a speculative event. However, ETF-related innovations have recently accelerated. After losing a run of crypto lawsuits, the US Securities and Exchange Commission (SEC), which approves or disapproves ETF products, has been on the defensive.

The initial run-up in Bitcoin prices began in mid-October, following the SEC’s dismissal of Grayscale’s lawsuit for transforming the GBTC product into a spot ETF offering, as well as other ETF-related news. However, because there have been no updates, BTC has been trading sideways.

Regardless, the speculative Bitcoin trading frenzy will reach new heights in January 2024, the next critical deadline for the ETF decision. This event will either make or break the cryptocurrency space. However, investors should be prepared for a regression before then, especially given that the Bitcoin price has been emitting multiple sell signals.

Bitcoin’s price may fall soon

Bitcoin’s (BTC) price increased by 30% between October 16 and 24, reaching a local high of $35,280. Because of the tremendous bullish momentum, this move was spectacular. However, since the formation of this swing high, BTC has been trading sideways. The daily candlestick closures have generated an upward slope since October 25, which may appear bullish to the naked eye. A closer examination of the Relative Strength Index (RSI) reveals that it is sliding downward. This deviation is known as bearish divergence, and it frequently results in a pullback or correction.

This is the first major sell signal that investors should be aware of.

In addition to the bearish divergence, the Momentum Reversal Indicator (MRI) has flashed two sell signals. The first sell signal was posted in the shape of a red down arrow following the daily candlestick closure on October 23. The MRI showed another red down arrow nine days later. This indicator predicts one to four down candlesticks.

As a result, investors may see the Bitcoin price fall. The Fair Value Gap (FVG) range, which stretches from $30,248 to $32,832, and its midpoint of $31,540, are important support levels to monitor.

Cryptocurrency Price Today: Bitcoin surpasses $35,000, and Solana becomes the top gainer

Quick take on the cryptocurrency price on November 2: The worldwide market capitalization increased to $1.31 trillion.

According to CoinMarketCap, Bitcoin (BTC) crossed the $35,000 mark early Wednesday, with the broader market’s ‘Fear & Greed Index’ standing at 74 (greed). Popular altcoins, including as Ethereum (ETH), Dogecoin (DOGE), Ripple (XRP), and Litecoin (LTC), witnessed significant gains across the board. Solana (SOL) went on to become the top gainer, gaining more over 17 percent in a 24-hour period. Maker (MKR) was the biggest loss, with a nearly 2% drop in a 24-hour period.

At the time of writing, the worldwide crypto market cap was $1.31 trillion, representing a 2.67 percent 24-hour rise.

Bitcoin Price Today

According to CoinMarketCap, the price of bitcoin was $35,614.53, representing a 3.21 percent gain in a 24-hour period. BTC was trading at Rs 30.30 lakh on the Indian market WazirX.

Ethereum Price Today

At the time of writing, the price of ETH was $1,863.53, representing a 2.55 percent increase in the previous 24 hours. According to WazirX, the current price of Ethereum in India is Rs 1.60 lakh.

Dogecoin Price Today

DOGE gained 2.58 percent in a 24-hour period, according to CoinMarketCap data, and is now trading at $0.06969. According to WazirX, the Dogecoin price in India is Rs 5.97.

Litecoin Price Today

Litecoin gained 1.89 percent in a 24-hour period. It was trading at $70.18 at the time of publication. In India, the price of LTC was Rs 5,902.17.

Ripple Price Today

The price of XRP was $0.6107, up 2.53 percent in 24 hours. According to WazirX, the current price of Ripple is Rs 52.

Solana Price Today

Solana was trading at $41.94, up 10.04 percent in 24 hours. According to WazirX, the SOL price in India was Rs 3,540.01.

Crypto Price Today: Bitcoin reaches a high of $35,500; Ethereum falls below $1,900; and altcoins rise by up to 11%

Bitcoin held steady, gaining more than 3% and racing above the 35,500-levels, while Ethereum gained 3% but remained below the $1,900-level.

Bitcoin and other crypto tokens gained ground on Thursday, with the oldest crypto asset reaching a 17-month high following the Fed’s dovish tone. Following the one-year anniversary of Sam Bankman-Fried’s crypto empire, FTX exchange, crypto tokens saw significant gains.

Bitcoin’s price continued to rise as the largest crypto currency gained more than 3% and raced above the 35,500-levels. However, its largest peer, Ethereum, rose roughly 3% but stayed below the $1,900 mark. The majority of altcoins were trading with significant gains.

Bitcoin and other crypto tokens gained ground on Thursday, with the oldest crypto asset reaching a 17-month high following the Fed’s dovish tone. Following the one-year anniversary of Sam Bankman-Fried’s crypto empire, FTX exchange, crypto tokens saw significant gains.

Bitcoin’s price continued to rise as the largest crypto currency gained more than 3% and raced above the 35,500-levels. However, its largest peer, Ethereum, rose roughly 3% but stayed below the $1,900 mark. The majority of altcoins were trading with significant gains.

Bitcoin and other crypto tokens gained ground on Thursday, with the oldest crypto asset reaching a 17-month high following the Fed’s dovish tone. Following the one-year anniversary of Sam Bankman-Fried’s crypto empire, FTX exchange, crypto tokens saw significant gains.

Bitcoin’s price continued to rise as the largest crypto currency gained more than 3% and raced above the 35,500-levels. However, its largest peer, Ethereum, rose roughly 3% but stayed below the $1,900 mark. The majority of altcoins were trading with significant gains.

Despite good market mood, SafeMoon (SFM) was among the biggest losers, falling by more than 50% in the last 24 hours. However, the fall comes as the company’s CEO and CTO have been arrested for fraud. The defendants are now being prosecuted.

Potential For A Bitcoin ETF Leads To A Price Rally As BTC Rises Above $30,000

The price of Bitcoin (BTC) reached a high of $30.442.35, within the last seven days. The oldest and most valuable cryptocurrency in the world, Bitcoin (BTC), was able to rise beyond $30,000 and stay stable as a result of investors’ restored faith in the potential for US Securities and Exchange Commission (SEC) approval of the Bitcoin Spot ETF. Prices have benefited from the SEC’s decision to not contest the Grayscale ETF application. How long this most recent rise can last is still to be seen. Readers should be aware that coin prices and the cryptocurrency market as a whole are very erratic before continuing. It is impossible to predict with certainty how cryptocurrencies will perform in the future.

The purpose of this article is to assist investors in staying abreast of the most significant events that have already occurred, as well as some noteworthy forthcoming events and current market circumstances. Before taking any calls, investors are recommended to conduct their own research. Crypto Prices Over The Past Week The price of ETH was at about $1,562.92, and the price of BTC was approximately $27,221.97. The total market capitalization increased to $1.16 trillion a week later. With a total volume of $3.62 billion, DeFi accounts for 7.97 percent of the market’s 24-hour volume. Stablecoin volume as a whole is $42.12 billion, or 92.87 percent of the total 24-hour market volume.

The overall market fear and greed index, as reported by CoinMarketCap, was at 55 points (out of 100), indicating a small increase in investor confidence from the previous Monday. The dominance of BTC was 51.27 percent at the time of writing. Bitcoin reached a high of $30.442.35 on October 23 and a low of $27,278.651 on October 16 over the last seven days. In contrast, the price of Ethereum witnessed highs of $1,676.67 on October 23 and lows of $1,547.06 on October 19. Crypto Events To Note In line with a research report published on Wednesday by JPMorgan, the value of Bitcoin (BTC) increased this week, mostly due to increased hope for the approval of multiple spot bitcoin exchange-traded funds (ETFs).

According to the article, the clearance of these ETF applications has advanced with the Securities and Exchange Commission’s (SEC) recent decision to not appeal a significant finding in the Grayscale case. The largest cryptocurrency fund in the world, the Grayscale Bitcoin Trust (GBTC), is managed by Grayscale. Although the precise date of the approval is yet unknown, the source indicates that it is expected to happen in the upcoming months, potentially before of the January 10th deadline for Ark 21Shares applications. According to analysts under the direction of Nikolaos Panigirtzoglou, this development is important for Bitcoin’s current upswing in performance.

In other news, the circulating quantity of Wrapped Bitcoin (WBTC), a cryptocurrency linked 1:1 to Bitcoin (BTC), has decreased by over 23,000 coins during the last 10 months, beginning in mid-December 2022. There are currently 79,839 distinct WBTC wallet owners. Notably, 73.76 percent of these tokens are held by a small group of the top 100 holders. The project is worth $4.88 billion on the market because there are 79,839 different wallets that hold WBTC and there are 163,006 tokens in circulation. The amount of WBTC in circulation has dropped from 185,909 WBTC to its current level of 163,006 WBTC, a fall of 12.31 percent since December 17, 2022.

Bitgo, Kyber Network, and Ren (formerly known as Republic Protocol) collaborated to launch the Wrapped Bitcoin project. In late January 2019, it was released on the Ethereum network. WBTC’s minting and redemption procedures are supervised by custodians, and everyone involved in them must abide by know-your-customer (KYC) and anti-money laundering (AML) laws. Finally, in response to questions from the cryptocurrency industry, Hong Kong’s central bank and securities regulating agency recently updated their crypto policies. These regulatory organisations have put additional measures in place to protect the interests of retail investors in a notice about intermediaries’ involvement in virtual asset activities. Among these measures are restrictions on the availability of “sophisticated financial products” to regular investors.

The Views Of Cryptocurrency Traders Regarding The Present Market Situation Over the weekend, Bitcoin crossed the $30,000 threshold, propelled by fresh hope that a Bitcoin Spot ETF may be approved after many candidates revised their US SEC filings last week. With a remarkable increase of more than 11% over the last seven days, Bitcoin hit a three-month high. There is an optimistic attitude prevalent in the market. Ethereum, meantime, has managed to overcome the $1,600 barrier and is currently trading above $1,650. meantime, other cryptocurrencies, such as Solana and Chainlink, have grown quite well, showing gains of over 35% and 41%, respectively, over the past week.

Those who are interested in cryptocurrencies are hopeful that Bitcoin will reach $100,000 within the next five years. Anticipated approvals of Bitcoin ETFs, which are anticipated to draw institutional investors, are the source of this excitement. The likelihood of Grayscale’s Bitcoin Trust becoming a spot ETF is increased by the US SEC’s non-appeal ruling in its favour. This story caused Bitcoin to momentarily surge to $30,000. A fictitious social media post resulted in around $100 million in liquidations. After retreating to $28,000, Bitcoin’s dominance rate surged to 52.55 percent amid ETF concerns. The market’s attitude is neutral at 52 according to the Crypto Fear & Greed Index.

Wall Street on edge due to concerns about the government shutdown

Bitcoin and Ether up After briefly crossing the US$26,800 mark on Wednesday evening, bitcoin was trading above US$26,300 on Thursday morning in Asia.

Ether gained some ground as well, rising above the $1,600 US barrier level before reversing course and settling slightly below it. Other top 10 non-stablecoins traded in a varied manner, with Toncoin (TONNE) of the Open Network (ON) leading the winners.

Following Wednesday’s mixed Wall Street closing, U.S. stock futures were up. Investors are considering the 16-year high in 10-year US Treasury yields as well as the possibility of an October government shutdown brought on by debt. Another Bitcoin ETF decision postponed by SEC According to data from CoinMarketCap, Bitcoin increased 0.56% to US$26,354.64 in the 24 hours leading up to 7:40 a.m. in Hong Kong, but it still had a weekly loss of 2.87%.

The largest cryptocurrency in the world momentarily surpassed US$26,800 on Wednesday night for the first time in the previous seven days before falling back to approximately US$26,300. On Thursday, the U.S. dollar index (DXY), which compares the dollar to a basket of other significant fiat currencies, hit a ten-month high of 106.84.

According to blockchain intelligence firm Santiment, a high DXY has been a bearish sign for both cryptocurrencies and the S&P 500. This was said on X (formerly Twitter) on Thursday. However, despite the strengthening of the US dollar, Bitcoin has “held up well.” The fact that “may indicate a breakout could come once the DXY settles down,” Santiment continued. In the last day, Ether rose 0.31% to US$1,597.56 with Bitcoin, although it is currently trading 1.55% lower for the week.

On Wednesday evening, the token also reached a seven-day high of US$1,631.91. According to Justin d’Anethan, head of Asia-Pacific business development at crypto market maker Keyrock in Belgium, the price movements in the cryptocurrency market yesterday were influenced by macro markets. American investors began the day with great optimism after the Asian trading session, hoping to reverse this week’s retreat, only to turn risk-off once more in the afternoon and end the day in the red.

Cryptocurrency did better than traditional markets, surging briefly before reversing course and returning to a neutral position. On the session, BTC and ETH are largely flat or modestly up. For the past day, the top 10 non-stablecoins have fluctuated in value. With a gain of 2.21% to US$2.17, Toncoin, the native token of TONNE, led the winners but fell 9.96% for the week. The worst performer was Polkadot’s DOT token, which fell 0.56% to US$3.99 for a weekly loss of 3.63%.

The U.S. Securities and Exchange Commission (SEC) on Tuesday postponed making a decision about the application for a spot Bitcoin exchange-traded fund (ETF) submitted by Cathie Woods’ Ark Investment Management and Swiss digital asset brokerage 21Shares. The SEC has now postponed its decision-making deadline from November 11 until January 10.

The organisation has repeatedly postponed making a judgement on ETF applications submitted by BlackRock, WisdomTree, Invesco Galaxy, Ark, and 21Shares. Four Congressmen encouraged the SEC to approve pending spot Bitcoin ETF applications, which led to the postponement. SEC Chair Gary Gensler was questioned about his organization’s tough position on crypto assets during a hearing before Congress on Wednesday.

But he remained adamant that the majority of cryptocurrencies—aside from Bitcoin—should be categorised as securities and subject to SEC regulation. Despite pressure from Congress, Gensler refused to provide any information regarding where the SEC stands in the (spot Bitcoin ETF) application process and instead criticised industry practises, according to Markus Thielen, head of research and strategy at digital asset service platform Matrixport.

This led to a retracement of yesterday’s upward effort in Bitcoin prices. In response to Gensler’s speech, Keyrock’s d’Anethan said, “I choose to see that as bullish: It’s a question of when they’ll give in, not if. It feels like American regulators are pushed more and more to take some action.” In the last day, the overall market capitalization of cryptocurrencies increased by 0.35% to US$1.05 trillion, while the trading volume increased by 20.25% to US$27.26 billion.