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CryptoIntelligence
2024-05-09 21:02:00

Ether Prices Drop Amid SEC Uncertainty and Technical Corrections, Despite Bullish Patterns

Today’s market sees a downturn in the value of Ethereum‘s Ether token, largely influenced by negative developments within the cryptocurrency sphere. As of May 7, the price of Ether fell to $3,022, marking a decline of around 6.20% from its previous day’s peak. This downward trend is not isolated to Ether; Bitcoin also experienced a similar fall of approximately 4% during the same period. A significant factor contributing to this decline is the uncertainty surrounding the U.S. Securities and Exchange Commission’s (SEC) handling of a proposed Ether exchange-traded fund (ETF). The SEC has postponed its decision regarding the ETF application

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