Posted 1/3/2024, 5:09:21 PM
Bitcoin Price Plunges 7% to $41K on Predictions of SEC Rejecting Spot ETFs, Forcing $14B in Liquidations
- Bitcoin price plunged 7% Wednesday morning down to $41,805, currently at $43,288
- Report from Matrixport predicts SEC will reject Bitcoin spot ETF applications in January
- Report estimates $14 billion entered crypto markets due to Bitcoin ETF hype
- Over $500 million in long positions liquidated in last day, crash happened at high leverage
- Some analysts disagree, say approval likely based on back-and-forth with SEC and cash creation