Bitcoin price drops below $29,000 after judge casts doubt on Ripple ruling

with a widely watched split-decision in the ongoing suit by the Securities and Exchange Commission against Ripple Labs.

The world's largest digital asset by market capitalization fell 1.8% over the past 24 hours to $28,790 at 11:24 a.m. ET, according toCoinbase shares declined 7.4% to $91.30. Miners also suffered, with Riot Platforms declining 5%, Marathon Digital falling 6.5% and Canada's Hut 8 Mining shedding 5.7%.Bitcoin spent most of last week below the $30,000 mark, lacking an impetus to sustain the upward momentum that saw it reach a yearly high around $31,800 earlier this month.

"When bitcoin re-ascends to a position above its Realized Price, following an extended period of staying below it, this usually signals the onset of a new bull market.

a $168 million lending position held by Curve founder Michael Egorov on the Aave protocol that is secured by CRV.AAVE is down 8%, COMP fell 8.8%, MPL declined 3.2% and MKR lost 2%. © 2023 The Block Crypto, Inc. All Rights Reserved. This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.

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