Major coins were seen in the green at the time of writing as the global cryptocurrency market cap rose nearly 0.5% to $1.17 trillion.CryptocurrencyGains +/-Price (10:37 p.m. EDT)Bitcoin BTC/USD 0.5%$29,368.30Ethereum ETH/USD 0.13%$1,843.07Dogecoin DOGE/USD 0.57%$0.075
What Happened: Bitcoin continued to trade below the psychologically important $30,000 level on Monday evening. Ethereum and Dogecoin were seen in positive territory.
On Monday, the cryptocurrency news cycle was dominated by the return of FTX founder Sam Bankman-Fried to jail after a federal judge decided to revoke his bail.
Top Gainer (24 Hour)CryptocurrencyGains +/-Price (10:37 p.m. EDT)THORChain (RUNE)13.57%$1.59Hedera (HBAR)9.26%$0.0685Conflux (CFX)8.48%$0.19
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Analyst Takes: Edward Moya, a senior market analyst with OANDA said, "Bitcoin remains anchored around the $29,000 level as the SEC delays their decision on Cathie Wood's Bitcoin ETF."
"Crypto bulls were hopeful a decision was imminent but now it seems we might have to wait several weeks or months as the regulatory agency is seeking public comment," said Moya, in a note seen by Benzinga.
"Bitcoin's range might widen for the rest of the summer, potentially testing as low as $28,500 and as high as the $32,000 level."
Cryptocurrency trader Michal van de Poppe noted that there was still no "party" for Bitcoin.
However, the Amsterdam-based analyst noted that the apex coin's "dominance is still copypasting the previous cycle." He said that this indicates that there is a likelihood of "topping out relatively soon."
Market intelligence platform Santiment noted that the trader sentiment towards Cardano, the eighth-largest coin by market cap at the time of writing, continues to be "low." The platform noted that the coin's market cap had shrunk 35% since topping 4 months ago.
"The sharks & whales havent been as deterred as one may think. There are now 25,294 wallets with 100K+ $ADA, the most in 16 months," said Santiment on X, formerly Twitter.
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