fxs_header_sponsor_anchor

Cryptocurrencies Price Prediction: Bitcoin, SEC & Crypto – European Wrap 28 August

Bitcoin price dips below $59,000, wiping out more than $318 million from markets

Bitcoin (BTC) edges up slightly on Wednesday after dropping by 7.5% at the start of the week following the markets’ broad risk-off tone. Nasdaq has filed with the U.S. Securities and Exchange Commission (SEC) to list and trade Nasdaq Bitcoin Index Options (XBTX), a positive development for BTC, but on-chain metrics project a negative outlook as evidenced by a higher percentage of shorts, while US spot Bitcoin ETFs posted outflows on Tuesday.

SEC settles charges with Abra for sale of nearly $500 million in unregistered securities after Ripple lawsuit

The US Securities & Exchange Commission (SEC) settled charges against Abra, a crypto lending platform, for allegedly having violated securities law after selling around $500 million via its Abra Earn product. This settlement marks an important development in the crypto regulatory landscape since Abra did not admit or deny the regulator’s allegations but agreed to pay civil penalties to be determined by the court. 

Faster crypto market decline

The cryptocurrency market has plunged 6% to a capitalisation of $2.08 trillion, its lowest level in nine days. Bitcoin is falling in line with the broader trend, while Ethereum and Solana are down 8.4% and 7.3%, respectively. Gold has also experienced an almost synchronised sell-off, losing around 1%, but equity markets remain generally positive and hopeful.

Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers.


RELATED CONTENT

Loading ...



Copyright © 2024 FOREXSTREET S.L., All rights reserved.