lately cryptocurrencies SEC, which increased its pressure on the bitcoin After saying there are inadequacies in ETF applications, BTC and in altcoins There was a general decline.
After insider sources announced that the SEC would not accept ETF applications in this state, Bitcoin fell from its pre-announcement level of $31,000 to below $30,000. However, for the last hour, there has been a recovery in BTC price and it has risen to $ 30,650 again.
On the altcoin side, the effects of the recovery seem to be greater.
Litecoin and Bitcoin Cash, in particular, have been leading the way in bullishness for the past 1 hour among major market cap altcoins. LTC has gained over 12% in the last hour, while BCH has gained 9.45%.
The rise in Litecoin is thought to be due to the halving event, which has approximately 34 days left. In addition, Bitcoin Cash and Litecoin are among the 4 cryptocurrencies to be listed by EDX Markets, an institutional cryptocurrency exchange backed by Wall Street companies, and this may have contributed to the rise.
On the other hand, we see that cryptocurrencies, which are in trouble with the SEC’s characterization as securities, experience relatively more measured rises compared to others. XRP is up 1.53% in the last hour, while BNB is up 1.57%.
*Not investment advice.
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