BTC dropped to a low of $40,800 from around $45,000 within hours during early Wednesday, CoinDesk Indices data shows, roughly around the time when Singapore-based digital asset firm Matrixport published a report penned by Markus Thielen forecasting the U.S. Securities and Exchange Commission to reject all spot bitcoin ETF applications, overturning its Tuesday outlook projecting an imminent approval and a BTC rally to $50,000.
Source: https://www.coindesk.com/markets/2024/01/03/what-caused-bitcoins-10-crash-matrixport-cramer-leverage/?utm_medium=referral&utm_source=rss&utm_campaign=headlines