Posted 1/3/2024, 5:53:00 PM
Bitcoin Retreats 5.7% Ahead of SEC Decision on Bitcoin ETF
- Bitcoin pulled back 5.7% on Tuesday to $40,838, erasing most gains from early 2023
- Pullback comes ahead of Jan. 10 SEC deadline to approve or deny bitcoin ETF applications
- Crypto market expects SEC to approve spot bitcoin ETF, but some analysts predict rejection
- Bitcoin rallied 150% in 2023 but remains 35% below 2021 peak
- Leveraged positions may have exacerbated the price decline based on rumors of potential SEC rejection