The post Crypto Market Today: Bitcoin Price Rally Retreats; Top Altcoins Follow Its Lead appeared first on Coinpedia Fintech News
The cryptocurrency landscape experienced a roller-coaster ride this week. Initial optimism, sparked by regulatory developments, saw Bitcoin surge by 7%, only for it to backtrack, dragging other major tokens down with it.
A Short-lived Boost from a Regulatory Victory
Earlier in the week, the crypto market lit up with optimism as a U.S. federal appeals court directed the Securities and Exchange Commission to reconsider its refusal of a bid that could potentially convert the Grayscale Bitcoin Trust into an exchange-traded fund. The hopeful environment nudged Bitcoin’s price to nearly touch $28,143, a peak it hadn’t reached in close to a fortnight. Yet, the high didn’t hold.
The aftershock of Bitcoin’s fleeting rally was evident across the digital asset spectrum. Major tokens like XRP (XRP) and Solana (SOL) experienced a decline, registering over 5% dips
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