Why bitcoin prices are not going up sharply now

The US Securities and Exchange Commission denied that Winklevoss ETFT's world's largest cryptocurrency fell sharply to more than $8,200 after a sharp fall on Friday, after news that US regulators denied Cameron and Tyler Winklevoss to apply for the first bitcoin ETF.

According to CoinDesk, Bitcoin fell to a low of $7,798.70 on Friday morning, down 6% from Thursday's news. A few hours later, as of 3:52 pm, it recovered to $8,211.87. ET. Earlier this week, cryptocurrencies have risen to a two-month high, in part because of rumors about exchange-traded fund approvals.

This is the second attempt by the founders of the encrypted exchange Gemini, Cameron and Tyler Winklevoss, to list the cryptocurrency ETFs on regulated exchanges. The US Securities and Exchange Commission has not yet approved bitcoin-based exchange-traded funds, and on Thursday emphasized security, market manipulation and investor protection issues.!
Cameron and Tyler Winklevoss should continue to apply in September this year.