Bitcoin Lingers Around $10,000 as Traders Await Catalysts

Bitcoin Lingers Around $10,000 as Traders Await Catalysts
imageCryptocurrency News1 hour ago (Sep 10, 2019 03:34PM ET)

(C) Reuters.

Investing.com – Bitcoin continued to linger around the key $10,000 psychological level, with the little market-moving data on offer to trigger a meaningful move in either direction.

Bitcoin fell 0.60% to $10,200 and traded in a narrow range of $10,176 and $10,379.

Sentiment on the popular crypto has come under pressure, with investors growing increasingly concerned that proposals for a bitcoin exchanged traded fund, which many argue is needed to ramp up institutional demand, may not win regulatory approval.

In an interview with CNBC on Monday, SEC Chairman Jay Clayton conceded there is “work left to be done,” to approve proposals for a bitcoin ETF.

Clayton’s remarks arrived just weeks before the SEC is expected to approve or reject a duo of bitcoin ETF proposals from Bitwise Asset Management and VanEck/SolidX.

Last month, the SEC delayed its decision on whether to approve three proposals for bitcoin ETFs.

“The Commission finds it appropriate to designate a longer period within which to issue an order approving or disapproving the proposed rule change so that it has sufficient time to consider this proposed rule change,” an SEC document released last month said.

Other cryptos traded mixed. XRP fell 0.08% to $0.25846, Ethereum fell 0.38% to $1979.47 and Litecoin rose 2.80% to $71.14.

Bitcoin Lingers Around $10,000 as Traders Await Catalysts

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