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Bitcoin Volatility Peaks Amid ETF Speculation: A Snapshot of Market Uncertainty | Bitcoin Price drop 5.14%

POUND-IQ

Jan 3, 2024

Bitcoin's Price Fluctuates Amid ETF Approval Uncertainty

- Bitcoin experienced significant volatility, with its price soaring to $45,539.3 and then plummeting to a low of $40,286.

- This instability is attributed to doubts about the U.S. Securities and Exchange Commission (SEC) approving Bitcoin exchange-traded funds (ETFs).

- Matrixport, a crypto financial-services firm, predicts the SEC will reject all Bitcoin ETF applications in January, contrary to other analysts' more optimistic expectations.

- This uncertainty has also negatively impacted crypto-related stocks, with companies like Coinbase Global and Bitcoin mining firms experiencing stock value declines.

- The market is on edge, awaiting the SEC's decision, which will significantly influence the future of cryptocurrency trading and investments.

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