Crypto Markets Slump Following SEC Bitcoin ETF Delay

Following strong progress to crack previously mentioned the $7,000 mark before today, Bitcoin (BTC) saw a decline of all over $500 in six several hours. At press time, all of the top 10 cryptocurrencies other than Tether (USDT) are in the pink, in accordance to Coin360.

Market visualization from Coin360

Industry visualization from Coin360

BTC is buying and selling all over $6,598 at press time, dropping 5.29 per cent around the last day and bringing a new weekly small. The decline follows today’s information that the U.S. Securities and Exchange Commission (SEC) postponed its choice on the listing and buying and selling of a Bitcoin exchange-traded fund (ETF) to the close of September.

Bitcoin’s 24-hour price chart. Source: Cointelegraph Bitcoin Price Index

Bitcoin’s 24-hour value chart. Resource: Cointelegraph Bitcoin Selling price Index

Ethereum (ETH) is suffering a slump, owning dropped all over 6.64 per cent in the last 24 several hours. The second largest cryptocurrency is buying and selling at $377 at press time, also hitting a new weekly small. Around the thirty day period, the ETH value has dropped 23 per cent.

Ethereum’s 7-day price chart. Source: Cointelegraph Ethereum Price Index

Ethereum’s 7-day value chart. Resource: Cointelegraph Ethereum Selling price Index

The top 10 altcoins are firmly in the pink, relocating downward from 4 to pretty much 12 per cent. At press time, IOTA, and Ripple (XRP) exhibit the most important losses, dropping 8.52 and 11.46 per cent respectively, adopted by Litecoin (LTC) with a decline of 8.5 per cent on the day.

Among the top 20 cash by market capitalization, Ethereum Typical (Etcetera) has been hit the toughest, getting rid of around 13 per cent in the last 24 several hours, and buying and selling at $17.02 at press time. Now, Aug. 7, crypto exchange Coinbase extra assist for Etcetera on its Coinbase Professional system. Yesterday, fee-free of charge crypto buying and selling system Robinhood mentioned Etcetera as nicely.

Ethereum Classic’s 1-day price chart. Source: CoinMarketCap

Ethereum Classic’s 1-day value chart. Resource: CoinMarketCap

Full market capitalization of all cryptocurrencies is at $236.7 billion at press time, down pretty much $15 billion around the 24 hour period.

1-day chart of the total market capitalization of all cryptocurrencies from CoinMarketCap

1-day chart of the full market capitalization of all cryptocurrencies from CoinMarketCap

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