Bitcoin continues to fall on US regulations concerns

Bitcoin fell in spot trading today, continuing its drop for the second day, heading to give up the $11,000 barrier, on weaker demand as regulatory concerns in the US were renewed, after the deletion of the launch of 3 Bitcoin ETFs in the market.

At Bitstamp, Bitcoin shed $108, or 0.9%, to $11,272, from the opening of $11,380, with a high of $11,447.

Yesterday, Bitcoin closed lower by 1.25%, its third loss in the last four days, on the bearish trend that dominates its trading in the short term.

The total market cap of cryptocurrencies fell on today by about $2 billion to a total of $294 billion, with most of the cryptocurrencies falling.

Bitcoin continues to get far from the $12,000 barrier, heading to give up the $11,000 barrier, on weaker demand, as it now needs more positive momentum to rebound.

In addition to the weak demand, the crypto market is facing pressure after regulatory concerns in the US were renewed due to the SEC delayed the launch of 3 Bitcoin ETFs in the market.

The US Securities and Exchange Commission (SEC) delayed its decision on the launch Bitcoin ETFs offered by VanEck, Bitwise and Phoenix.

VanEck ETF has been postponed to October 18th, Bitwise to October 13th, and Phoenix to September 29th.

The SEC said that  that they need enough time to consider changing the rules proposed by these funds, to approve or reject them.

The postponement decision is the newest in a series of delays by the the SEC, which delayed its decision on VanEck and Bitwise in March and in May.