After a decline, Bitcoin was back in the green today as the world’s biggest crypto currency gained around a half-a-per cent

Bitcoin was back in the green on Monday after US Securities and Exchange Commission (SEC) delayed spot Bitcoin ETF decision for all applicants including BlackRock, Fidelity, and others until October. The Securities and Exchange Commission began evaluating the latest slate of applications, from both crypto-heavy and traditional finance companies. However, positive economic data supported the sentiments.

After a decline, Bitcoin was back in the green today as the world’s biggest crypto currency gained around a half-a-per cent. Although, it stayed below the $26,000-level. Its biggest peer, Ethereum, also edged marginally lower to hold above the $1,600-mark. Price action in the altcoins remained positive but the gains were capped.

Bitcoin is presently trading near the $26,000 mark. Over the weekend, it saw a brief decline, hitting the $25,700 range before quickly bouncing back. This volatility might be because of the uncertainty generated by the US SEC’s decision to delay its review of Bitcoin spot ETF applications until October, said Edul Patel, Co-Founder & Chief Executive Officer at Mudrex.

Moreover, the withdrawal of Bitwise’s Bitcoin spot ETF application, due to the Securities and Exchange Commission’s delay, may have contributed to market fluctuations. If Bitcoin continues trading below $26,000, a continued downtrend might be possible. In the meantime, Ethereum’s price sits at around $1,650. Altcoin Stellar has risen by more than 6 per cent during the past 24 hours, he added.

Apart from a few exceptions, all leading crypto currencies were trading marginally higher on Monday but the gains were capped. Toncoin and XRP added 2 per cent each, while Cardano, Polygon, Solana and BNB increased nearly a per cent each. Shiba Inu declined over a per cent during the early day.

The global crypto currency market capitalisation was marginally up, rising to $1.05 trillion-mark, as it added over half-a-per cent during the past 24 hours. Nevertheless, the total trading volumes dropped slightly to $20.79 billion.