Bitcoin fell for a third day, slipping below $8,000, after the U.S. Securities and Exchange Commission rejected a request to list an exchange-traded fund run by Tyler and Cameron Winklevoss.
The declines have halted Bitcoin's July rally, which had powered up the world's biggest cryptocurrency by more than 30 percent after its plunge earlier this year while buoying sentiment across the digital-coin market.
On Thursday, the U.S. again turned down the Winklevoss ETF, saying the Cboe Global Markets Inc. platform that would have listed the Bitcoin fund failed to prove that the underlying market was "resistant to manipulation."
The drop also coincided with a signal of lost momentum that some traders consider to be bearish, the first such indication since the token's historic surge in December.
