Bitcoin climbs back above $8,000 after negative Winklevoss ETF news

27 Jul, 2018
by Ryan Boltman
News
Bitcoin climbs back above $8,000 after negative Winklevoss ETF news

Bitcoin has rebounded after yesterdays news of the Winklevoss twins' second attempt at getting ETF approval, which failed.  

Bitcoin slumped to just above $7,800 yesterday after the failed ETF news caused a large sell off. 

Recap: SEC rejects Winklevoss' BTC ETF again, price drops

Total market cap saw a $8b drop yesterday following the news. However, Bitcoin has managed to regain strength with BTC dominance climbing back over 47% once again and Bitcoin pushing above $8,200 on Bitmex.

The news seems to have been short lived as this is not the first time the Winklevoss twins have had their ETF proposal rejected by the SEC. The sell off was most probably caused by panicked traders who thought it would be safer to sell off.

Needless to say, Bitcoin is raging on and is back into the 8000's looking to retest $8,500 again. 

The rest of the top 10 cryptocurrencies have seen a slight drop with a slight recovery, most of the movement has been sideways. 

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Read more about: Bitcoin (BTC)

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