Bitcoin slips below $67.2k; Ethereum falls over 4% despite approval of spot Ether ETFs in US
Cryptocurrency markets were trading in the red in Friday's trade, dragged by Bitcoin (BTC), Ethereum, and Solana.
BTC fell over 3.4% to $67,143 in early trading on Friday, while Ethereum declined over 4.4% to $3,655.
«Bitcoin is trading around $67,000 following some profit-taking after reaching $71,000 on Wednesday,» said Edul Patel, CEO of Mudrex.
Meanwhile, Ethereum declined despite the US Securities and Exchange Commission (SEC) approving the sale of spot Ether Exchange-Traded Funds (ETFs) in the United States on May 23, 2024.
Did you Know?
The world of cryptocurrencies is very dynamic. Prices can go up or down in a matter of seconds. Thus, having reliable answers to such questions is crucial for investors.
View Details»This is the SEC’s second decision regarding crypto Exchange-Traded Products. Earlier this year, in January 2024, the SEC approved Bitcoin ETFs after a long battle.
Ethereum has surged over 30% in the past week. «If the bulls can maintain the current price level, the next resistance points are at $3,900 and then $4,100,» Edul said.
Among other major crypto tokens, BNB (-3.8%), Solana (-6.3%), Dogecoin (-5.1%), Toncoin (-4.8%), Cardano (-5.2%), Shiba Inu (-6.6%), and Avalanche (-6%) declined.
The global
