High volatility is something considered common in the sector, which often generates a high number of liquidations of leveraged buy or sell positions.

The sell-offs came as Bitcoin fell 10% from the $45,000 range to $40,750. Similarly, Ethereum fell from $2,300 to $2,100.

One of the main reasons for this eviction is believed to be the report from financial services company Matrixport. The document addresses the possibilities of the US Securities and Exchange Commission (SEC) rejecting all Bitcoin exchange-traded fund (ETF) applications.

On the surface, it may appear that the report is the only reason for the dump from the market. However, the community discovered that Matrixport also published another article on the same day – “Bitcoin Spot ETF Approval Imminent, BTC Will Jump to $50,000.”

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