A report claiming that the SEC “will reject” the spot Bitcoin ETF is not what is behind the BTC price crash below $42,000, one lawyer says.
Bitcoin (BTC) did not crash by $4,000 in hours because of panic over United States regulators rejecting the spot exchange-traded fund (ETF).
That is the opinion of popular commentators after flash BTC price weakness sparked half a billion dollars of crypto long liquidations.
Coming at a conspicuous time for Bitcoin, which celebrates its 15th birthday on Jan. 3, the latest snap BTC price downside took the market down almost 9%, data from Cointelegraph Markets Pro and TradingView confirms.
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Source: https://cointelegraph.com/news/bitcoin-etf-denial-report-did-not-cause-btc-price-crash-analysis