Bitcoin continues at $28,000, Ethereum remains at $1,550, and Toncoin is down 5%

Bitcoin lost more than a percent but managed to stay above $28,000, while Ethereum also fell more than a percent but managed to stay above $1,550.

On Thursday, bullish emotions in Bitcoin and other crypto tokens lessened after revisions to a spot bitcoin ETF application in the US strengthened the upward movement. The changes were meant to highlight how sponsors will protect clients’ bitcoin in custodial accounts and to disclose risks associated with the uncertain regulatory environment.

Bitcoin fell back into the red following a steady ascent, losing more than 1% but remaining over the 28,000-level. However, its greatest peer, Ethereum, depreciated along similar lines, falling more than 1% to just remain over the $1,550-level. In the early morning, the majority of altcoins were trading downward.

Bitcoin has continuously traded above the $28,200 mark in the last 24 hours, after asset management Fidelity’s submission to the US Securities and Exchange Commission of a modification to its planned spot Bitcoin ETF application. The addendum details Fidelity’s measures to protect customers’ Bitcoin in custody accounts while also disclosing associated risks.

The market is waiting for updates from the Economic Club of New York, where Federal Reserve Chair Jerome Powell is set to speak later today, shortly before the US central bank’s next interest-rate decision blackout period begins.

With the exception of Tron, the bulk of popular crypto assets were trading lower on Thursday. Toncoin dropped by more than 5%, while Litecoin fell by 3%. Solana and Polygon both fell more over 2%, while Cardano and XRP fell along similar lines.

The worldwide cryptocurrency market cap was trading much lower, having plummeted below $1.08 trillion in the last 24 hours. However, total trade volumes fell by more than 12% to $39.81 billion.

Bitcoin has remained above $28,000 despite increases due to false rumours of ETF acceptance, followed by a price fall. Despite the fact that approximately $100 million was liquidated within hours, investors appear to be noticing the stability of the BTC price following its fall.

Avalanche, on the other hand, has been preparing for its acceptance in India, as Polygon Labs and OKX have seen the departure of a key employee each, who has joined Ava Labs for their expansion in the country.