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In less than a day, Bitcoin (BTC<\/a>) has shed nearly all the gains it made from Grayscale Investment’s court victory against the United States Securities regulator.<\/p>\n On Aug. 29 Bitcoin popped to a two-week high<\/a> after a judge ruled that the Securities and Exchange Commission was \u201carbitrary and capricious\u201d when it rejected Grayscale\u2019s spot Bitcoin ETF application. <\/p>\n However, the SEC\u2019s recent delay to seven pending<\/a> spot Bitcoin ETF applications has sent Bitcoin\u2019s price downwards, falling nearly 5% in the last 24 hours.<\/p>\n Cointelegraph Markets Pro data<\/a> shows Bitcoin\u2019s price is currently around $26,000, falling steeply from around the $27,300 level it had been sustaining since the Grayscale win. <\/p>\n BlackRock, WisdomTree, VanEck, Bitwise, Valkyrie and Fidelity along with the joint fund by Invesco and Galaxy were all delayed on Aug. 31 by the SEC.<\/p>\n The price decline came even though some were\u00a0expecting the delays to take place<\/a> including Bloomberg ETF analysts Eric Balchunas and James Seyffart. <\/p>\n We\u2019ve now fully retraced back to pre SEC Grayscale Lawsuit Bitcoin price.<\/p>\n Pretty much sums up where the markets at right now. pic.twitter.com\/PS4T12uHFh<\/a><\/p>\n \u2014 Ben Simpson (@bensimpsonau) August 31, 2023<\/a><\/p><\/blockquote>\n The SEC\u2019s delay allows it another 45 days to approve, deny or again delay the applications.<\/p>\n\n