Public Sentiment affects Crypto Market as SEC Rejects Winklevoss’s Bitcoin ETF

[Henrikbliss]

The US Securities and Exchange Commision (SEC) rejected the application for bitcoin-related exchange-traded-fund submitted by Cameron and Tyler Winklevoss. That was their second attempt to create the first ETF tied to the digital coin; however, the regulator expressed concerns related to liquidity and custody issues. Two more proposals for Bitcoin ETFs, submitted by VanEck and SolidX are still to be reviewed by the SEC.

The news pushed the biggest cryptocurrency below $8,000 handle, signaling deeper correction after the recent rally. Currently, BTC/USD is changing hands at $7,887, which is 3.7% lower on a daily basis. From the short-term point of view, Bitcoin moved to the oversold territory, but the trend still remains bearish...

Read More: https://news.bitzamp.com/sec-rejects-winklevosss-bitcoin-etf-btc-bull-loses-momentum/