As recently we saw a selling spike that had triggerd 540 millions dollar woth of long positions and 31 millions dollar of short position to be liquadated. One of the biggest reason of this selling pressure was the blog that had been released by the matixports as " SEC will not approve the spot BTC ETF'S " .
They clearly mention in their official page that spot btc is likely to be rejected by the #sec .
But all we can say is that the crypto market is very volatile and to this time any negative news can affect the crypto market tremendously regarding the approval and #btchalving2024 is coming nearer but as an investor you should be updated with the news and the reason why spot btc etf's is likely to get rejected .
you can read the reason in #matixport.com
