Bitcoin Drops as SEC Snub for Winklevoss ETF Damps Speculation
- Momentum gauge bearish for first time since December highs
- Digital currency declines after more than 30% July rally
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Bitcoin fell for a third day, slipping below $8,000 after the U.S. Securities and Exchange Commission rejected a request to list an exchange-traded fund run by the Winklevoss twins.
The declines have halted Bitcoin’s July rally, which had driven the world’s biggest cryptocurrency up by more than 30 percent, after its plunge earlier this year, while buoying sentiment across the digital-coin market.