Bitcoin, Ethereum, Dogecoin Drop As SEC Puts Off Spot ETF Decision Until October: Analyst Predicts Apex Crypto Poised For Imminent Breakout, To Reach $30K Levels
Portfolio Pulse from Mehab Qureshi
Major cryptocurrencies including Bitcoin, Ethereum, and Dogecoin faced a downturn due to the SEC's decision to delay seven spot Bitcoin ETF applications until October. This affects asset managers like BlackRock, WisdomTree, and VanEck. Analysts predict Bitcoin is poised for an imminent breakout, potentially reaching $30K levels. The global crypto market capitalization stands at $1.08 trillion, a 0.98% decrease in the last day.
September 01, 2023 | 2:43 am
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NEUTRAL IMPACT
Bitcoin's price dropped due to the SEC's decision to delay Bitcoin ETF applications. However, analysts predict an imminent breakout, potentially reaching $30K.
The SEC's decision to delay Bitcoin ETF applications has caused a short-term drop in Bitcoin's price. However, analysts predict a breakout, which could lead to a price increase in the near future.
CONFIDENCE 85
IMPORTANCE 80
RELEVANCE 100
NEGATIVE IMPACT
Dogecoin's price dropped due to the SEC's decision to delay Bitcoin ETF applications.
The SEC's decision to delay Bitcoin ETF applications has caused a short-term drop in Dogecoin's price.
CONFIDENCE 75
IMPORTANCE 60
RELEVANCE 70
NEGATIVE IMPACT
Ethereum's price dropped due to the SEC's decision to delay Bitcoin ETF applications. However, an Ethereum ETF Futures acceptance is expected in October.
The SEC's decision to delay Bitcoin ETF applications has caused a short-term drop in Ethereum's price. However, the expected acceptance of Ethereum ETF Futures in October could lead to a price increase.
CONFIDENCE 80
IMPORTANCE 70
RELEVANCE 80