Bitcoins price movements have calmed over the past day after skyrocketing to $72,000, and the asset has even lost some ground since yesterday, currently sitting below $70,000.

Ethereum continues to present a strong front as anticipation builds for todays SEC decision on one of the ETH ETFs.

BTC Slips Beneath $70K

Bitcoin had a quiet weekend, which it spent trading sideways, around $67,000, as the consolidation continued. However, the landscape changed substantially on Monday evening when news emerged that the US Securities and Exchange Commission could greenlight a spot Ethereum ETF as early as this week.

The primary cryptocurrency reacted quite positively to the reports and soared past $70,000 for the first time in over a month and tapped a 6-week peak of just shy of $72,000.

The bears finally stepped up at this point and didnt allow the asset to challenge its March 2024 high of $73,750. Instead, BTC started losing value gradually by dropping to $70,000 yesterday and below that level today.

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Invalid email address Your privacy is guranteed.Thanks for subscribing, you will get your first report in the next hours! As of now, the cryptocurrency trades about $500 away from the round-numbered milestone, with its market cap down to $1.370 trillion. Its dominance over the alts has retraced by more than 1% in the past several days and is now at 50.3% on CG.

Bitcoin/Price/Chart 23.05.2024. Source: TradingView

ETH Remains Above $3.8K

The positive news mentioned above impacted ETH the most, as expected. The underlying asset exploded by over 20% in a matter of hours and tapped a multi-week high of its own at over $3,800. With the decision looming in today on the SECs decision on one of the applications today, ETHs price has remained steady at around $3,800.

TON and NEAR are the other larger-cap alts in the green today, while SOL, BNB, ADA, DOGE, AVAX, XRP, and SHIB have turned red.

PEPE has been on the run lately, charting new all-time peaks frequently, and today was no different.

The total crypto market cap has remained relatively still at just under $2.730 trillion.

Cryptocurrency Market Overview. Source: QuantifyCrypto SPECIAL OFFER (Sponsored) Binance Free $600 (CryptoPotato Exclusive): Use this link to register a new account and receive $600 exclusive welcome offer on Binance (full details).

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Cryptocurrency charts by TradingView.