Bitcoin, Ethereum, XRP Remain Stable Despite SEC Policy Changes Favoring Crypto ETFs
Leading cryptocurrencies showed little movement Thursday despite the Securities and Exchange Commission introducing easier rules for institutional crypto products.
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The cryptocurrency market experienced sideways trading on Thursday, with Bitcoin nearly touching $118,000 before retreating to $116,527. Trading volumes declined by 21% over 24 hours, while the global crypto market cap rose slightly to $4.10 trillion. The SEC approved generic listing standards for cryptocurrency ETFs, potentially streamlining institutional access.
Market liquidations totaled $250 million, with $160 million from short positions. Analyst Ali Martinez suggests Bitcoin could form an inverse head and shoulders pattern, potentially dipping to $112,000 before rallying to $130,000. Notable gainers included STBL (+61.86%) and APX (+46.40%).
The broader tech sector rallied following Nvidia-Intel partnership news.
Original Article
benzinga.comhttps://www.benzinga.com/crypto/cryptocurrency/25/09/47754678/bitcoin-ethereum-xrp-dogecoin-unmoved-even-as-secs-policy-changes-hint-at-quicker-crypto-et