Bitcoin (BTC) continues to fail to recover and continues to decline. The leading cryptocurrency fell another 3% in the past 24 hours and is trading near the critical limit of $ 31,000. As of press time, the price of BTC is 32,409.
Amid the stiff resistance that the $ 35K cap seems to pose, the crypto market has a week full of impulses of all kinds. In the last few hours, Apple’s rumor of an alleged multi-million-dollar investment has been triggered; the company reportedly invested more than $ 2 billion in BTC, right after its co-founder Steve Wozniak called the cryptocurrency “the most amazing mathematical miracle. ”
On the other hand, crypto enthusiasts are also excited about the recent announcement by the Bank of New York Mellon, which will provide banking services for Grayscale’s eventual Bitcoin exchange-traded fund (ETF). However, the United States Securities and Exchange Commission (SEC) has not yet approved these types of financial instruments, so the news has not caused a significant boost.
Finally, there is also latent the BTC fund financial Grayscale release, which will be on Sunday, July 18. It is estimated that about 16,240 BTC will be unlocked – as the six-month period for GBTC shares ends – and that the market will see a further bearish momentum.
The altcoin market also saw significant pullbacks. Ether (ETH), the second-largest cryptocurrency on the market, was down 5% and its price fell below $ 2,000. At the close of this note, the price of ETH is $ 1,988. Litecoin (LTC) fell similarly and is trading at $ 132.
Binance coin (BNB), Cardano (ADA), and dogecoin (DOGE) are down 3% and are priced at $ 311, $ 1.28, and $ 0.20, respectively. Bitcoin cash (BCH) corrected to the same extent and is trading at $ 472.