After several days of sitting quietly, bitcoin finally went on the offensive and broke above $31,000 earlier today.
Most larger-cap altcoins have produced minor volatility in the past 24 hours, aside from LTC and BCH, both of which are down by over 3%.
Last week was relatively calm for bitcoin as the asset it spent most of it trading sideways in a tight range between $30,000 and $31,000. That all changed on Friday, though, when the SEC reportedly issued a warning to all recent Spot BTC ETF filings, calling them “inadequate.”
This has an immediate effect on the cryptocurrency’s price, which tumbled by over $1,500 and fell to a 10-day low of $29,500 (on Bitstamp).
However, that dip to sub-$30,000 levels was short-lived, and BTC bounced off quickly.