7/1 Price Analysis: BTC, ETH, BNB, XRP, ADA, DOGE, SOL, LTC, MATIC, DOT

The SEC's rejection of ETF applications prompted a knee-jerk reaction, but the small drop in Bitcoin and several altcoins suggests that lower levels attract buyers.

Price analysis Join us on social networks

Bitcoin (BTC) experienced a volatile trading session on the last day of the quarter. The bulls were trying to keep Bitcoin's price above $31,000, but got a jolt on a Wall Street Journal report that said the U.S. Securities and Exchange Commission (SEC) had returned requests for the Bitcoin spot-price exchange-traded fund (ETF). .

While there was a knee-jerk reaction to the news, the downside was limited as it turned out ETF applications had been returned due to a technical issue. Regulators said asset managers could file a new application after providing necessary clarifications.

Daily Cryptocurrency Market Performance. Source: Coin360

Bitcoin's failure to break above $31,000 seems to have short-term speculators worried. A Glassnode research report published on June 28 shows that short-term holders (STH), entities holding coins for 155 days or less, sent over 35,000 coins to exchanges.

Any bad news is likely to witness a negative reaction from...