Bitcoin Weekly Big News

Bitcoin is approaching the key point of $6,000 again

Since February, Bitcoin currency has held the $6,000 mark four times; if it falls below this price, it may indicate a further decline. The GTI VERA, which detects trend reversal and depletion, has just ended its longest continuous purchase since July, showing that Bitcoin investors may face more losses and suffering.

In the case of continued regulatory pressures, and people are increasingly feeling that the widespread adoption of digital assets may take longer, Bitcoin prices have lost more than half this year. As the interest of institutional investors and individual investors weakens, the feeling of frustration is becoming more common.

At 12:54 pm New York time, Bitcoin fell 0.7% to $6,256.74. Bitcoin has fallen more than 11% since the beginning of this month.

SEC suspends two types of tracking product transactions tracking Bitcoin and Ethereum

On Monday, SEC issued an order to suspend trading of two investment products that track cryptocurrencies. The two investment products are Bitcoin Tracker one and Ether Tracker One, issued by XBT Provider AB, a subsidiary of CoinShares Holdings.

In the official order, the US Securities and Exchange Commission emphasized ‘confusion of market participants’, pointing out that the nature of this type of financial instrument is the reason for suspending its trading.

The official statement said: ’The broker-dealer application materials submitted for the provision and sale of these financial products in the United States and certain trading sites are characterized as ‘exchange-traded funds’. Other public resources describe these instruments as ‘exchange-traded Bill’. In contrast, the issue describes it as a ‘non-equity linked certificate’ in its offering.’

The US Securities and Exchange Commission continues to say that the decision is in the ‘public interest’ and is in line with its ‘protection of investors’. The suspension of the transaction will start at 5:30 on September 10th, Beijing time, until 11:59 on September 21st.

The product has been listed on the NASDAQ exchange in Stockholm since 2015. The SEC began offering services to US investors one month before the order was issued, and began to quote in US dollars on August 15. These products are known as ‘soft openness’ in Bloomberg news reports, in stark contrast to exchange-traded fund (ETF) products that have recently been rejected by regulators as a faster way to gain access to the US dollar’s cryptocurrency. Mouth.

Ryan Radloff, CEO of CoinShares Holdings, said at the time:’Everyone who invests in US dollars can now buy these products, which previously could only be purchased in Euros or Swedish Krona.’

Bitcoin Info

Bitcoin price today is $6,309.63, dropping-0.99%. BTC to USDT is at the top of the Bitcoin market.