Matrixport analysts, who changed their minds about the Bitcoin price and the SEC’s approval for spot Bitcoin ETFs, claimed in their latest report that the SEC may reject all ETF applications in January, and possible approvals may be delayed until the second quarter of 2024.
Rumors of non-approval of the spot Bitcoin ETF, which is expected to be approved these days, led to a sharp decline in the price.
After this news, BTC, which was at $ 45,000, fell below $ 41,000. With this decrease, a long position of $ 500 million was liquidated in the last hour.
The decline in Bitcoin was also accompanied by altcoins.
BTC is trading at $41,395 at the time of writing.
*This is not investment advice.
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Source: https://en.bitcoinsistemi.com/there-was-a-sudden-drop-in-bitcoin-btc-price-what-is-the-reason-for-the-decline/