Bitcoin is worth $27,000, Ethereum is worth less than $1,700, and altcoins are largely trading higher

Bitcoin was back in the red on Thursday, falling roughly 1% but still above $27,000, while Ethereum fell more than 1% to fall below $,1700.

Bitcoin fell again into the red on Thursday as traders took profit amid unpredictable market sentiments. The Federal Court’s decision on Tuesday is considered by Grayscale as paving the way for a spot bitcoin ETF. However, traders’ general attitudes remain volatile.

Bitcoin fell back into the red on Thursday, dropping approximately 1% but remaining over the $27,000 mark. Its largest peer, Ethereum, fell more than 1% to go below the $,1700 barrier once more. During the early trade, altcoin prices were on the lower side.

Bitcoin’s price has remained above $27,000 as markets self-corrected following the sudden expansion sparked by Grayscale’s victory against the US SEC yesterday.

This decision, however, has instilled cautious optimism in the market about an anticipated decision on the Bitcoin spot ETF in the United States. Investors are waiting for an update from the SEC on Bitwise’s application, which has an initial deadline of September 1st. Ethereum, on the other hand, has been trading around $1,700.

With a few exceptions, all of the biggest cryptocurrency tokens were trading slightly lower on Thursday. Solana was down more than 4%, while Polkadot was down 3%. Polygon and Tron both dropped 2%. Toncoin gained nearly 1% among the gainers, while Dogecoin gained somewhat.

The worldwide cryptocurrency market cap was trading marginally lower, at $1.08 trillion, having declined as much as 1% in the previous 24 hours. However, total trade volumes fell by more than 45% to $29.74 billion.

In the last 24 hours, the cryptocurrency market has traded sideways with downward pressure. Investor sentiment, on the other hand, has risen 3 points since yesterday and is now in the neutral zone with a score of 52/100. The majority of the top ten cryptocurrencies by market capitalization were trading in the red.

Robinhood, one of the top financial brokers in the United States, has seen considerable growth in its wallet app since adding wallet support for BTC and DOGE. Despite the fact that this appears to be a late development in a saturated market segment, investors seemed to be pleased with the move.