Bitcoin and Crypto Prices Drop as SEC Delays Spot Bitcoin ETF Decision
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Bitcoin price dropped 5% to under $36K, giving up previous day's gains. $340M in leveraged positions liquidated over 2 days.
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Most major cryptos like ETH, SOL, LINK also declined, though AVAX extended its rally.
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SEC delayed decision on spot bitcoin ETF, dampening market momentum. Unlikely any will be approved this year.
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Optimism around spot ETFs helped push bitcoin from $25K in September to near $38K.
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Franklin Templeton has an ETF decision deadline tomorrow but delays expected.