Investors expect the U.S. payroll report for August to shed more light on coming interest rate policy

Bitcoin, Ether and most crypto currencies declined Friday. At just above $26,000, Bitcoin has traced back most of the gains sparked by Tuesday’s favourable U.S. court decision for Grayscale Investments in its Bitcoin ETF case against the Securities and Exchange Commission. Equity futures in the U.S. were little changed after a mixed session Thursday. The personal consumption expenditures (PCE) index moved up as consumers continue to spend. Investors expect today’s U.S. payroll report for August to shed more light on coming interest rate policy.

Bitcoin declined 4.42 per cent over the last 24 hours to $26,042.84. The token is 0.26 per cent lower for the week, as per  CoinMarketCap data.

Bitcoin’s value dropped along with other crypto currencies after the U.S. SEC announced Thursday it will delay seven spot Bitcoin ETF applications until October. Some of the world’s biggest asset managers including BlackRock, WisdomTree, and VanEck are among those waiting on the Securities and Exchange Commission for ETF approval.

The move is very clear; the pump we had from Grayscale-SEC news is now waned, stated Benjamin Stani, director of business development at Hong Kong-based digital asset broker Matrixport.

The market, he said, was hoping that after Grayscale, there (would be) a path forward and had some experts up the probability of a spot exchange traded fund approval before the year-end — but it looks like not so soon.

Ether declined 3.15 per cent to $1,648.76 over the past 24 hours for a weekly loss of 0.33 per cent.

Most other crypto currencies posted losses, with Solana’s SOL leading the losers. It dropped 5.07 per cent to $19.81, its lowest level in more than six weeks. On Monday, Clockwork — a Solana-based automation network for smart contracts — shut down. Its founder Nick Garfield said he saw “limited commercial upside” in the project.