On Thursday, Ethereum lost more than 1% to go below the $,1700 barrier, while Bitcoin fell by approximately 1% but continued to trade above $27,000 levels.

As traders took some profit off the table amid the erratic market sentiments on Thursday, Bitcoin fell back into the red. The Federal Court’s decision on Tuesday is viewed as opening the door for a spot bitcoin ETF by Grayscale. The general mood, meanwhile, is still unstable for the traders.

On Thursday, the largest cryptocurrency token, Bitcoin, fell somewhat but continued to trade above $27,000 levels, returning to the red. Its biggest rival, Ethereum, dropped more than 1% to once more go below the $,1700 barrier. During the early session, cryptocurrency price activity was on the lower side.

Since Grayscale’s victory over the US SEC yesterday, the market’s rapid expansion has self-corrected, stabilising Bitcoin’s price above the $27,000 mark.

However, the market has grown cautiously optimistic about the impending decision about the Bitcoin spot ETF in the United States as a result of this ruling. Investors are eagerly awaiting word from the SEC on Bitwise’s application, which has a September 1st first deadline. Ethereum, in contrast, has been trading at about $1,700.

With a few exceptions, Thursday saw a small decline in the price of all major crypto coins. Solana fell more than 4%, while Polkadot fell by only 3%. Tron and Polygon both had a 2% decline. Toncoin, one of the gainers, increased by roughly 1%, while Dogecoin saw very modest gains.

The market capitalization of all cryptocurrencies was trading marginally lower, down below the $1.08 trillion mark, and it had decreased by as much as 1% during the previous day. The entire trade volume fell by more than 45% to $29.74 billion, though.

The last 24 hours have seen sideways trading on the cryptocurrency market with downward pressure. However, investor sentiment increased 3 points since yesterday and is now in the neutral zone with a score of 52/100. The majority of the top 10 cryptocurrencies by market capitalization were losing money.

After providing wallet support for BTC and DOGE, Robinhood, one of the biggest financial brokers in the US, has seen considerable growth in its wallet software. Investors appear to be supportive of the move even though it seems like a late development in a competitive market niche.

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