📉 Bitcoin Price At Risk of Crashing 20% Dropping Below $36,000
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As Matrixport predicts a rejection of all January applications for Bitcoin spot ETFs by the US Securities and Exchange Commission, the crypto market faces a storm.
1. Matrixport's Bold Prediction: ETF Rejections and Bitcoin Liquidation!
Matrixport boldly predicts the SEC will strike down all January applications for Bitcoin spot ETFs due to crucial hurdles. This forecast has swiftly impacted Bitcoin, with a staggering 400 million bitcoins liquidated in just two hours. Traders are advised to protect their long holdings by exploring options like buying $40,000 put options or betting against Bitcoin outright.
💡 Matrixport's Insight: A Hidden Key Unlocks the Bitcoin ETF Vault
Matrixport hints at a hidden key the SEC demands applicants unlock, likely tied to regulatory compliance and investor protection. While they foresee this requirement being met by Q2 2024, January is anticipated to be a month of rejections, potentially leading to a 20% drop in Bitcoin prices, settling in the $36,000 to $38,000 range.
2. Impact on the Crypto Market: Volatility Unleashed!
The predictions have already sent shockwaves through the crypto market, causing an 8% drop in Bitcoin prices. Investors are uneasy as the likelihood of ETF approval diminishes, impacting crypto mining stocks and triggering sell-offs in related US stocks. A rejection in January could unleash further volatility and liquidations in the crypto market.
3. Crypto Industry Reaction: From Frenzy to Humor!
Investors and traders are reacting strongly to the sudden slip in Bitcoin prices, with some expressing concern and others injecting humor into the situation. Prominent figures, including John Deaton, weigh in on the dip, attributing it to factors ranging from negative reports on ETFs to the infamous "CRAMER CURSE."
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