From Investing.com: 2024-05-07 02:13:58

Bitcoin price dropped 1% to $63,558.2 due to regulatory concerns and ETF outflows. A report revealed that less than 10% of stablecoin transactions were organic, casting doubt on retail interest. Robinhood faces SEC scrutiny on its crypto tokens. CoinShares data showed $435 million outflows, with Grayscale’s ETF leading the trend.

Ethereum price fell 3.4% to $3,069.52 after SEC postponed a decision on spot ETFs. The regulator may make a decision by early July despite ongoing investigations. Altcoins like Binance Coin rose 0.3% while Dogecoin surged 3.8% amid speculation on U.S. interest rate cuts.

Read more at Investing.com: drops to $63k amid regulatory woes, ETF outflows By Investing.com