Bitcoin’s rally above $28,000 following Grayscale’s win over the SEC was short-lived as the asset has lost all gains by dumping below $26,000.
Most altcoins are also deep in the red, with DOT, MATIC, LTC, and BCH plummeting by more than 5% overnight.
BTC Dumps Hard
After days of trading sideways at around $26,000, bitcoin finally made a move on Tuesday following a positive development in Grayscale’s legal battle with the US Securities and Exchange Commission. As a US Judge sided with the crypto asset manager, BTC exploded by over two grand in hours and charted a multi-week high above $28,000.
However, that rally was short-lived. BTC started to lose value almost immediately after its local peak and had retraced by $1,000 by yesterday morning.
The worst was yet to come, though. The cryptocurrency went through another leg down late last night when it slumped by approximately $1,500 in an hour or so and fell to a weekly low of $25,700 (on Bitstamp).
Despite recovering a few hundred d
We współpracy z: https://cryptopotato.com/bitcoin-erases-all-gains-following-grayscales-win-drops-to-weekly-low-under-26k-market-watch/
