Bitcoin price today went below $39,000 after breaching the level for the first time in two weeks. The world's most popular and largest cryptocurrency by market cap was up 0.60% at $38,581. Meanwhile, the global cryptocurrency market capitalisation today surged over 1% to $1.85 trillion, as per CoinGecko.
Bitcoin has slipped more than 16% since the start of this year (year-to-date or YTD), whereas it has nearly halved from its all-time high of $69,000 hit in November past 50%. Expectations of tightening monetary policy helped spur a bearish downturn last month in cryptocurrency assets.
On the other hand, Ether, the coin linked to ethereum blockchain and the second largest cryptocurrency, rose more than 3% to $2,767, as per CoinDesk. Similarly, Binance Coin gained 1% to $382.
Dogecoin price also jumped nearly a per cent to $0.14 whereas Shiba Inu was trading more than 2% higher at $0.000022. The performance of other cryptos also improved as XRP, Stellar, Avalanche, Cardano, Solana, Polygon, Terra, prices were trading with gains in the range of 4-19% over the last 24 hours.
The US Securities and Exchange Commission has delayed its decision on whether to allow the listing of a spot bitcoin exchange-traded fund by Bitwise Asset Management. The delay comes after the SEC has denied spot bitcoin ETFs by several issuers in recent months, including Fidelity, SkyBridge, and Valkyrie, all of which sought to provide easy exposure to the digital currency.
The SEC in October approved two bitcoin futures-based funds, the ProShares Bitcoin Strategy ETF and the Valkyrie Bitcoin Strategy ETF, which made their Wall Street debuts the same month.
(With inputs from agencies)
