Why Has the Bitcoin Price Plunged? What is the Source of the New FUD?

Bitcoin (BTC) price showed a sudden decrease and at the time of this writing, it is trading at approximately $ 29,150 with its sudden loss within minutes.

While the exact cause of the drop has not yet been determined, rumors circulating in the last hours claiming that the SEC has delayed all Bitcoin Spot ETF applications until next year are thought to be the source of this drop.

It was observed that the original origin of the claim, which was spread from an account with low reliability due to false information shared on Twitter before, was based on a news text published today. It is estimated that the news in question published in foreign media sources was misinterpreted. The report states that the deadline for all Bitcoin Spot ETF applications could be delayed to 2024.

However, Binance announced about an hour ago that it would end its crypto shopping service. However, given the timing of the decline and the severity of the development, it seems unlikely that this was the reason for the decline.

However, there is no information that the SEC has evaluated the Bitcoin Spot ETF applications and postponed it until 2024. In the coming hours, we will inform you as Bitcoinsistemi.com if such information drops or the reason for the decrease becomes clear.

The SEC had only recently decided to delay ARK’s application for the BTC Spot ETF.


Previous articleDubai lures AI, Web3 enterprises with 90% subsidized commercial licenses
Next articleHow is the Cardano Network Progressing in 2023?
Hello, my name is Vincent Parks. I help novice traders and private investors. I write articles on trading / TA / trading psychology etc. For the past 3 years, I have been an account manager in a company that specializes in binary options. I have more than 5 years of professional experience in FX/crypto trading. My goal in life is to share my knowledge and experience with more people.