Litecoin Drops After ETF Delay, Bitcoin Holds $94K
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LTC, AAVE, LEO, LINK, and many others have dropped significantly since yesterday.
Bitcoin’s price tried to take down the $95,000 resistance but the bears were quick to intercept the move and pushed the asset south by a grand.
Many altcoins have turned red over the past day. LTC leads this adverse trend after the US SEC delayed making a decision on one of the ETF applications.
BTC Stalls at $94K
Bitcoin had a strong week at the end of April and the beginning of May when its price recovered from yet another slip to $93,000 and went on the offensive. That support line has turned out to be crucial for the asset, at least for now, and BTC spiked after last Wednesday’s retest.
In a few hours, the primary cryptocurrency jumped by several grand and rose above $97,000. The landscape became even more bullish on Friday when BTC tapped $98,000 for the first time in over two months. As the bulls were preparing for an attempt to take down the coveted $100,000 level, though, the situation changed, and bitcoin started to lose value gradually.
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