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Bitcoin Prices Plunge After SEC's ETF Refusal
Bitcoin prices fell sharply after the US Securities and Exchange Commission shot down a bid to list a bitcoin exchange-traded fund (ETF).
Updated May 2, 2022, 4:06 p.m. Published Mar 10, 2017, 9:51 p.m.
Bitcoin prices fell sharply after the US Securities and Exchange Commission shot down a bid to list a bitcoin exchange-traded fund (ETF).
The digital currency’s price fell to as little as $1,022.68 at 21:00 UTC, the lowest since roughly mid-February, according to the CoinDesk Bitcoin Price Index (BPI). This figure represents a nearly 30% decline from the all-time high of $1,325.81 that bitcoin prices reached earlier in the session.
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At the time of report, bitcoin prices have recovered above the $1,100 line, hitting $1,109.06 at press time.
The digital currency’s sharp price fluctuations took place amid robust trading volume, as major exchanges including Bitfinex and Kraken experienced a large increase in transaction activity during the session.
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Market participants traded 46.4k and 22.8k BTC through these exchanges in the 24 hours leading up to roughly 21:30 UTC, compared to an average of 26.7k and 13.9k that went through these exchanges during sessions over the past week, Bitcoinity data reveals.
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Solana CME Futures Fell Short of BTC and ETH Debuts, but There's a Catch
When adjusted for asset market capitalization SOL's relative futures volume looks better, K33 Research noted.
Что нужно знать:
- Solana's SOL futures began trading on the Chicago Mercantile Exchange (CME) on Monday, with a notional daily volume of $12.3 million and $7.8 million in open interest, significantly lower than the debuts of bitcoin (BTC) and ether (ETH) futures.
- Despite the seemingly lackluster debut, when adjusted to market value, SOL's first-day figures are more in line with BTC's and ETH's, according to K33 Research.
- Despite the bearish market conditions, the launch of CME SOL futures offers new ways for institutions to manage their exposure to the token, said Joshua Lim of FalconX.
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