Bitcoin fell below $6,000 late Monday — for the first time since June — against a backdrop of cryptocurrencies declining in value.
The world's largest digital currency by market value tumbled as low as $5,900, and was down around 4 percen.
The cryptocurrency's price is close to its lowest point of the year. The lowest level of 2018 was reached in June 18, when it retreated to $5,785.
Rival coins ether, the digital token of the ethereum blockchain, and XRP, Ripple's digital asset, fell alongside bitcoin. Ether toppled almost 6 percent to around $270, while XRP fell 5.7 percent to a price of 26 cents.
According to Charles Hayter, chief executive of digital comparison site CryptoCompare, the downward move in cryptocurrencies was on the back of the postponement of a bitcoin exchange-traded fund (ETF) proposed by VanEck and Solid X.
If it were to be greenlit by the U.S. Securities and Exchange Commission (SEC), the VanEck Solid X ETF would be the first to track cryptocurrency assets.
Hayter described Monday's sell-off as "momentum-based selling following the ETF kickback," and "the usual gyrations of a market in a depressed mode."
The SEC's move to delay a decision on the VanEck Solid X bitcoin trust ETF to September 30 followed the regulator's rejection of a separate ETF proposal from the Winklevoss twins.
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