Cryptocurrency Price Today: Bitcoin Dips Below $27,000 As US SEC Delays Bitcoin ETF Decision


Bitcoin (BTC) dipped below the $27,000 mark yet again, as the US Securities and Exchange Commission (SEC) delayed its decision on spot Bitcoin exchange-traded funds (ETFs), until October, putting on hold applications from BlackRock, WisdomTree, Invesco Galaxy, Wise Origin, VanEck, Bitwise and Valkyrie Digital Assets made earlier this year. Popular altcoins — including the likes of Ethereum (ETH), Dogecoin (DOGE), Ripple (XRP), Litecoin (LTC), and Solana (SOL) — landed in the reds across the board. As per CoinMarketCap, the market’s fear and greed index stood at 35 (out of 100), representing “fear”. The Maker (MKR) token emerged to be the biggest gainer of the lot, with a 24-hour jump of over 12 percent. Stacks remained the biggest loser for the second consecutive day, with a 24-hour dip of over 6 percent. 

The global crypto market cap stood at $1.05 trillion at the time of writing, registering a 24-hour dip of 3.08 percent.

Bitcoin (BTC) Price Today

Bitcoin price stood at $26,074.37, registering a 24-hour loss of 4.11 percent, as per CoinMarketCap. According to Indian exchange WazirX, BTC price stood at Rs 22.64 lakh.

Ethereum (ETH) Price Today

ETH price stood at $1,651.91 marking a 24-hour dip of 2.76 percent at the time of writing. As per WazirX, Ethereum price in India stood at Rs 1.45 lakh.

Dogecoin (DOGE) Price Today

DOGE registered a 24-hour loss of 2.27 percent, as per CoinMarketCap data, currently priced at $0.064. As per WazirX, Dogecoin price in India stood at Rs 5.70.

Litecoin (LTC) Price Today

Litecoin saw a 24-hour dip of 4.71 percent. At the time of writing, it was trading at $64.09. LTC price in India stood at Rs 5,689.99.

Ripple (XRP) Price Today

XRP price stood at $0.5098, seeing a 24-hour loss of 3.16 percent. As per WazirX, Ripple price stood at Rs 44.90.

Solana (SOL) Price Today

Solana price stood at $19.84, marking a 24-hour dip of 3.62 percent. As per WazirX, SOL price in India stood at Rs 1,760.83. 

Top Crypto Gainers Today (September 1)

As per CoinMarketCap data, here are the top five crypto gainers over the past 24 hours:

Maker (MKR)

Price: $1,167.86
24-hour gain: 12.61 percent


Price: $2.26
24-hour gain: 5.99 percent

Toncoin (TON)

Price: $1.75
24-hour gain: 2.72 percent

Astar (ASTR)

Price: $0.05742
24-hour gain: 2.21 percent


Price: $0.0773
24-hour gain: 2.18 percent

Top Crypto Losers Today (September 1)

As per CoinMarketCap data, here are the top five crypto losers over the past 24 hours:

Stacks (STX)

Price: $0.4933
24-hour loss: 6.58 percent

Optimism (OP)

Price: $1.39
24-hour loss: 5.59 percent

Filecoin (FIL)

Price: $3.20
24-hour loss: 5.45 percent

Zcash (ZEC)

Price: $24.67
24-hour loss: 5.42 percent


Price: $0.5908
24-hour loss: 5.26 percent

What Crypto Exchanges Are Saying About Current Market Scenario

Mudrex co-founder and CEO Edul Patel told ABP Live, “Bitcoin’s value dropped to trading below $27,000, consolidating to trading around $26,000. This shift could be because the US SEC postponed evaluating the spot bitcoin ETF applications until October. Additionally, this drop in price could be because of the release of the US monthly jobs report later today. Ethereum’s trading value dropped from trading above $1,700 to around $1,650. Meanwhile, Maker’s MKR token surged more than 10 percent over the past 24 hours after their recent announcement of their intentions to introduce SubDAOs in Korea.”

Parth Chaturvedi, Investments Lead, CoinSwitch Ventures, said, “The market has backtracked most of its gains which came after the Grayscale ruling. The drop in prices happened after an update from the SEC that it will be delaying its spot BTC ETF decision for all the applicants including Blackrock, till October. Except for the stablecoins Tether and USDC, all of the top 10 cryptos by market capitalisation are trading in the red. BTC (-4.2 percent) and ETH (-2.9 percent) are trading around their previous anchor levels of $26,000 and $1,600, respectively. However, worth highlighting is that the number of BTC held in addresses tied to centralized exchanges has dropped by another 4 percent, leading to the fewest exchange reserves since early January 2018.”

Shivam Thakral, the CEO of BuyUCoin, said, “The entire volume of the cryptocurrency market has decreased by 37.85 percent during the past 24 hours in the ever-changing world of cryptocurrencies. The SEC has been compelled by a federal appeals court to reconsider its decision to deny Grayscale’s request to transform its $14 billion Grayscale Bitcoin Trust into a spot bitcoin ETF. This choice has caused prices of digital assets and stocks with a focus on cryptocurrencies to rise. Market watchers view this as a historic victory that might open the door for a future spot BTC ETF. The decision does not, however, ensure that Grayscale’s or other companies’ applications will be approved. In this scenario, the price for each bitcoin is $26,051.11.” 

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Disclaimer: Crypto products and NFTs are unregulated and can be highly risky. There may be no regulatory recourse for any loss from such transactions. Cryptocurrency is not a legal tender and is subject to market risks. Readers are advised to seek expert advice and read offer document(s) along with related important literature on the subject carefully before making any kind of investment whatsoever. Cryptocurrency market predictions are speculative and any investment made shall be at the sole cost and risk of the readers.


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