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Bitcoin price is at its lowest level in two months


Bitcoin price is currently at its lowest levels in two months, given several macro market factors, along with the tendency of cryptocurrency prices to continue to fluctuate.

On Tuesday, bitcoin reversed a loss of 0.21% to trade at $26,035, with bitcoin down $58 at the moment, and the larger market sentiment looks bearish as most altcoins reflect price declines .

ETH saw a loss of 0.77% on Tuesday. At the time of writing, ETH is trading at $1,663. Over the last day, the cryptocurrency is down $15, according to gadgets360 .

According to a Bloomberg report, there are indications that the US Securities and Exchange Commission (SEC) is set to grant approval for Ethereum futures exchange-traded funds (ETFs)  in the next few months.

This development is likely to lead to a new rally for Ethereum which has shown weak price action so far this year, CoinDCX research team said.

Currently, cryptocurrency trading losses include Binance Coin, Ripple, USD Coin, Cardano, Dogecoin, and Solana.

Tron, Polkadot, Polygon, Shiba Inu, Avalanche and Stellr also found themselves hit by losses, and the global cryptocurrency market capitalization fell 0.55% to reflect its value of $1.05 trillion, CoinMarketCap showed.

Moreover, the cryptocurrency greed and fear index continues to remain in the fear zone with a score of 37/100 .