And let’s not forget Ethereum and its merry band of altcoins, who have decided to join the pity party, with ETH retreating over 6%. It appears traders are donning their defensive armor, preparing for the impending macroeconomic circus. 🎭
The U.S. Securities and Exchange Commission (SEC) has once again opted for a good old-fashioned delay in its decision on CoinShares’ proposed spot Litecoin (LTC) exchange-traded fund (ETF). No surprises here, folks! This is merely another chapter in the ongoing saga of regulatory caution toward cryptocurrency ETFs. Initially, the SEC had promised to make up its mind by May 26, 2025. But, in a plot twist that nobody saw coming, they’ve extended the deadline to August 24, 2025. Apparently, they want more *feedback* from the public. How refreshing.
Bitcoin, that enigmatic jewel, now whispers instead of roars, hinting that its bullish swagger might be losing some of its va-va-voom. Who knew even the grandest coins have their moments of doubt? *
The culprit? A sneaky little pattern called a “rising wedge,” which had been propping up Bitcoin since mid-June like a dodgy chair leg. When it broke, the sellers pounced like a swarm of hungry dwarves on a pie cart. Meanwhile, the bulls are now scrambling to defend their turf, though it’s starting to look like a game of Whack-a-Mole with a broken mallet. 🐂🆘
Voici donc l’acte le plus récent de cette farce bureaucratique: la SEC, dans un élan de procrastination digne d’un Argan de notre époque, a une fois encore repoussé sa décision sur la proposition de Nasdaq concernant l’ETF XRP de Coinshares. Quelle surprise! 🙄
This sell-off, my dear reader, sparked more volatility than a Bertie Wooster escapade, with Ethereum-based NFTs taking a sharper hit than a poorly aimed cricket ball 🏏. Quite the kerfuffle, I assure you.
The rate of SHIB has experienced a most lamentable decline of 4.62% over the past day. 🤯
But don’t you dare hold your breath waiting for a price surge. No, the market hasn’t exactly exploded in the kind of ETF-fueled euphoria you’d expect. Nope, instead, HBAR is quietly doing its thing-dropping, correcting, and playing it cool while something quite bullish is brewing underneath… and it’s got something to do with whales. 🐋
In the wake of this sell-off, a staggering $582 million evaporated into thin air over the past 24 hours, according to CoinGlass data. Poof! Just like that. If only my bank account could disappear that easily.
Ah, the heavy hand of selling extends its grasp, as noted by our astute analysts at QCP on this fateful Monday. Just last week, bitcoin ( BTC) experienced a disheartening 5% decline from its all-time highs, accompanied by a cacophony of over $1 billion in liquidations within the chaotic realm of decentralized finance (DeFi). Profit-taking, it seems, is the new national pastime!
