Crucial Bitcoin (BTC) alert issued by Samson Mow.

In a recent tweet, Samson Mow, Bitcoin advocate and CEO of Jan3, urged the cryptocurrency community not to rush to sell their Bitcoin, even as the leading global cryptocurrency lost nearly 7% in an instant yesterday.

Mow's warning was about spot Bitcoin ETFs.

Samson Mow Warns Traders Against Selling BTC.

The Jan3 boss said traders shouldn't sell their Bitcoin "just because a prediction article says ETFs will be in denial." Here Mow referenced an article that actually caused Bitcoin to crash yesterday; was published by Matrixport, a cryptocurrency startup led by former Bitmain CEO Jihan Wu.

The article expects the SEC regulator to reject all requests filed by Wall Street Bitcoin spot ETF issuers (BlackRock, Ark Invest, Fidelity, Grayscale and about 10 others) in January for a variety of reasons.

The report also predicted a significant drop in the price of Bitcoin, recommending traders to start selling BTC and buying put options instead of calls.

The main reason suggested by Matrixport is that all necessary demands made by the regulator against Bitcoin ETF issuers can be satisfied by the latter by the second quarter of this year. So, Bitcoin ETFs may finally be approved, which is why Mow urges the cryptocurrency community not to abandon their Bitcoin holdings now due to a possibility of rejection.

Liquidated $730 million in cryptocurrencies.

The news pushed Bitcoin lower, causing it to lose 3,000 dollars and move it to $42,234. By now, Bitcoin has surged, adding 1.33% and changing hands at $42,811. The collapse in the price of Bitcoin caused traders to start liquidating assets, which led to the liquidation of a total of $730 million in cryptocurrencies