Cryptocurrency News

Bitcoin Temporarily Falls Under $60,000 Mark as SEC Concludes Ethereum Investigation

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Bitcoin Briefly Slips Below $60K, Sec Drops Ethereum Probe

Essential Insights

  • Bitcoin experiences a downturn in the markets, momentarily falling below the $60,000 mark on Monday.
  • The long-awaited distribution of assets to the creditors of the now-defunct cryptocurrency exchange Mt. Gox is slated for an early July start.
  • The completion of an SEC examination into Ethereum and Consensys has occurred, with no subsequent charges being pursued.
  • A newly proposed spot bitcoin-ether ETF has been filed by the crypto asset management company Hashdex.
  • Market analysts will closely monitor bitcoin’s performance, along with the anticipation of the upcoming presidential debate in the U.S. on Thursday.

Bitcoin’s price trajectory has been challenged in June as it tumbled below the anticipated $60,000 level, reversing its earlier ascent towards a new high in excess of $73,000.

A potential wave of up to 140,000 bitcoins is expected to hit the market due to the planned bitcoin distributions for erstwhile clients of the fallen bitcoin exchange Mt. Gox.

However, the cryptocurrency realm has encountered some positive developments, with the SEC wrapping up its Ethereum inquiry with no charges against Consensys. In parallel, Hashdex is paving the way for a diverse investment vehicle with its spot crypto ETF initiative.

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