SEC Bitcoin ETF Rejection Could Cause Short-Term Price Drop But Long-Term Growth Unaffected
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Analysts expect some negative short-term impact on bitcoin price if SEC rejects spot ETF, but declines could be balanced by other bullish catalysts.
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Rejection would be a letdown and might trigger legal issues for SEC after recent court loss on Grayscale ETF rejection.
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Bitcoin doesn't rely on an ETF, but rejection would cast bearish shadow and necessitate market adjustment.
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Ether and other crypto assets likely also affected since SEC would shift focus to their ETF apps next.
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Bitcoin's long-term investment case remains strong regardless of ETF approval timing due to growing institutional adoption and upcoming halving.