In a move that has shocked the entire industry, Bitcoin’s fall has led to more than $540 million being liquidated from the crypto market in just 4 hours. Indeed, the asset has dropped due to Spot Bitcoin ETF rejection concerns. Specifically, it has fallen as much as 9% over the last 24 hours alone.
Financial services firm, Matrixport, recently released a report anticipating Bitcoin ETF rejections across the board. Indeed, it expressed concern with the US Securities and Exchange Commission’s (SEC) willingness to approve the product. Ultimately, it projected initial denials at the upcoming January 10th deadline.
Credit : WatcherGuru
