Close Menu
CryptoHoppers.comCryptoHoppers.com
    What's Hot

    Lama Introduces Visa Cards with Bitcoin Cashback to Customers

    June 14, 2023

    Navigating the World of Curated NFTs: A New Era in Digital Art Curation | NFT CULTURE | NFT News | Web3 Culture

    December 3, 2023

    Ethereum [ETH] whales stack up, but is this enough for a level retest?

    May 20, 2023
    Facebook X (Twitter) Instagram
    • Privacy Policy
    • Get In Touch
    Facebook X (Twitter) Instagram
    CryptoHoppers.comCryptoHoppers.com
    • News

      July’s Rate Cut Dreams Fade: Fed Seen Holding Firm as Trump Fumes

      July 10, 2025

      UAE Rejects $100K Crypto Visa Program as TON’s Staking Plan Triggers Regulatory Backlash

      July 8, 2025

      Digital trade tensions take center stage between the U.S. and South Korea

      July 7, 2025

      Traders Gear Up: FOMC Prep Signals Bitcoin, Altcoin Buying Frenzy

      July 6, 2025

      Bitcoin: Here's why BTC might fall to $105K despite all the hype

      July 5, 2025
    • Technology

      Coinbase partners with Perplexity to unlock real-time crypto data for traders

      July 10, 2025

      Comment on Bitcoin Surges to $110K as Selling Pressure Declines; Is BTC Charting its Way to a New ATH Soon? by Bitcoin Price Prediction: BTC to Hit $145.1K by Year-End and More

      July 9, 2025

      CleanSpark Doubles Bitcoin Mining Power After Georgia Expansion

      July 8, 2025

      Dogecoin price double bottoms as whale accumulation continues

      July 7, 2025

      Comment on Metaplanet Joins Top 5 Bitcoin Holders With 13,350 BTC as Stock Surges 10% by Bitcoin Treasuries Boom as Firms Add 8,400 BTC in Just One

      July 6, 2025
    • Learn/Guide

      Coinbase, Perplexity AI join forces to enhance crypto data access for traders

      July 10, 2025

      Top perps DEX GMX hacked for over $40m, $GMX token plunges

      July 9, 2025

      Cardano Foundation unveils blockchain-based tool to simplify audit compliance and enhance financial reporting

      July 8, 2025

      Plume Network brings real-world yield to TRON’s global payment ecosystem via SkyLink integration

      July 7, 2025

      TON introduces UAE Golden Visa program through crypto staking, Toncoin soars 13%

      July 6, 2025
    • NFTs

      1mouth Analog: miirror’s Raw Leap from Digital to Handmade Chaos | NFT CULTURE | NFT News | Web3 Culture

      May 9, 2025

      NFTCulture Expands Into TCGs with Cardcore.xyz: Where Digital Collectibles Meet Competitive Play | NFT CULTURE | NFT News | Web3 Culture

      May 8, 2025

      From Moonshots to Broken Links: The Rise and Fall of CloneX | NFT CULTURE | NFT News | Web3 Culture

      April 24, 2025

      Pacific Spirit: Vinyl Meets Code in a Groundbreaking Generative Drop on Art Blocks | NFT CULTURE | NFT News | Web3 Culture

      April 16, 2025

      Daizen: Elevating the NFT Multiverse on Apechain Blockchain | NFT CULTURE | NFT News | Web3 Culture

      December 5, 2024
    • Regulation

      SEC Drops Binance Lawsuit: How Regulatory Clarity Could Spark a BNB Price Rally

      May 30, 2025

      Kentucky Governor Signs Off On ‘Bitcoin Rights’ Bill, Strengthening Crypto Protections

      March 31, 2025

      Utah Moves Closer To Bitcoin Reserve As Bill Advances To Senate Standing Committee

      February 23, 2025

      Bitcoin ETFs In Focus As Kansas Senator Proposes Up To 10% Pension Fund Allocation

      January 26, 2025

      MicroStrategy May Face Tax Issues Over $19 Billion Unrealized Bitcoin Gains: Report

      January 25, 2025
    • Business

      Sri Lanka’s E-commerce Platform Kapruka to Introduce Crypto Payments

      November 17, 2024

      Leading Eastern European Exchange Exmo Sells Business in Russia, Belarus

      November 16, 2024

      Bank of Russia to Launch Digital Ruble Payment Infrastructure by July 2025

      November 15, 2024

      Bitcoin Mining Company Mara Holdings Now Holds 26,747 Bitcoin: Q3 Earnings Report Reveals

      November 14, 2024

      Brazil Prepares to Let Tradfi Institutions Embrace Crypto

      November 13, 2024
    • Live Pricing
    CryptoHoppers.comCryptoHoppers.com
    Home » BTC Price Crashes Under $26,000 with SEC Delaying Decisions on Spot Bitcoin ETF
    News

    BTC Price Crashes Under $26,000 with SEC Delaying Decisions on Spot Bitcoin ETF

    September 1, 20233 Mins Read
    Facebook Twitter Pinterest LinkedIn Tumblr Email
    BTC Price Crashes Under $26,000 with SEC Delaying Decisions on Spot Bitcoin ETF
    Share
    Facebook Twitter LinkedIn Pinterest Email


    Bitcoin continues to show weakness as the BTC price can move towards $24,000-25,000 as it goes to test the 200-week EMA once again. 

    On Thursday, August 31, the world’s largest cryptocurrency Bitcoin plummeted by more than 4.5% with its price slipping under $26,000, losing all the early week gains after the Grayscale court ruling. The selling pressure on BTC and its price comes as the US Securities and Exchange Commission (SEC) announced its decision to delay the approval of seven spot Bitcoin ETF applications.

    This includes applications from giants such as BlackRock, VanEck, Valkyrie, and others. Also, the strengthening of the US Dollar has put pressure on asset prices across the financial markets.

    Stocks displayed a mixed performance following the release of the Personal Consumption Expenditures (PCE) Index, which highlighted persistent high inflation. Additionally, a rebound in the DXY exerted downward pressure on assets that managed to record price gains on Thursday. As the trading session concluded, the S&P and Dow closed in negative territory, with losses of 0.16% and 0.48%, respectively. In contrast, the Nasdaq edged up by 0.11%.

    Crypto analysts have been weighing as to when would the US SEC approve the first spot Bitcoin ETF in the US. Grayscale’s victory against SEC has made analysts bullish with a 75% chance of the spot Bitcoin ETF coming by the end of 2023.

    Michaël van de Poppe, the founder of MN Trading, shared his analysis of the situation via X (formerly Twitter), suggesting a higher probability of the SEC granting approval for an application in either October or December. He also anticipated that there would be an approval for the Ethereum ETF Futures in October.

    Regarding the price movement of Bitcoin (BTC), Poppe stated that it is currently navigating a challenging zone. He highlighted that over $250 million in liquidations occurred during the recent correction, causing Open Interest to retreat to levels observed within that range.

    BTC Price Technical Charts

    According to data from TradingView, Bitcoin initially found support at $27,000 in the morning but later experienced a significant sell-off during the afternoon. This downturn saw the price of Bitcoin drop to as low as $25,925 before buyers were able to push it back above the $26,000 mark. As a result, the gains achieved after Tuesday’s Grayscale ruling were completely wiped out.

    While Tuesday’s price movements in the Bitcoin futures market signaled “a bullish upside breakout from the recent sideways trading range,” as noted by Kitco’s senior technical analyst Jim Wyckoff, the overall market structure remained largely unchanged. Wyckoff pointed out that a downward price trendline continues to be present on the daily chart.

    Photo: KITCO

    Some of the inherent weakness in the Bitcoin price shows that it might slip further in correction towards $24,000-25,000 as it goes to test the 200-week EMA once again.

    next

    Bitcoin News, Cryptocurrency News, Funds & ETFs, Market News, News

    Bhushan Akolkar

    Bhushan is a FinTech enthusiast and holds a good flair in understanding financial markets. His interest in economics and finance draw his attention towards the new emerging Blockchain Technology and Cryptocurrency markets. He is continuously in a learning process and keeps himself motivated by sharing his acquired knowledge. In free time he reads thriller fictions novels and sometimes explore his culinary skills.

    Thank you!

    You have successfully joined our subscriber list.

    Subscribe to our telegram channel.
    Join



    Source link

    Share. Facebook Twitter Pinterest LinkedIn Tumblr Email

    Related Posts

    July’s Rate Cut Dreams Fade: Fed Seen Holding Firm as Trump Fumes

    July 10, 2025

    UAE Rejects $100K Crypto Visa Program as TON’s Staking Plan Triggers Regulatory Backlash

    July 8, 2025

    Digital trade tensions take center stage between the U.S. and South Korea

    July 7, 2025

    Traders Gear Up: FOMC Prep Signals Bitcoin, Altcoin Buying Frenzy

    July 6, 2025
    Top Posts

    Investors sell off TRX, BNB; Traders eye this 5000x coin

    March 20, 2025

    NVIDIA and Intel Eye Hedera for Verifiable AI Compute

    December 20, 2024

    Comment on Can XRP ETFs Transform Crypto Investing? by XRP ETF Tracker: Expert Breaks Down Status of 9 Ripple Fund

    April 16, 2025

    Welcome to CryptoHoppers.com! Stay informed with the latest updates, trends, and insights from the dynamic world of cryptocurrencies. From Bitcoin to altcoins, blockchain technology to decentralized finance (DeFi), we cover it all. Discover expert analysis, market trends, regulatory developments, and exciting innovations shaping the crypto industry.

    Top Insights

    July’s Rate Cut Dreams Fade: Fed Seen Holding Firm as Trump Fumes

    July 10, 2025

    UAE Rejects $100K Crypto Visa Program as TON’s Staking Plan Triggers Regulatory Backlash

    July 8, 2025

    Digital trade tensions take center stage between the U.S. and South Korea

    July 7, 2025
    Advertisement
    Demo
    CryptoHoppers.com
    Facebook X (Twitter) Instagram
    • News
    • Technology
    • Learn/Guide
    • Regulation
    • NFTs
    • Business
    • Live Pricing
    © 2025. Designed by CryptoHoppers.com.

    Type above and press Enter to search. Press Esc to cancel.