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According to Decrypt, speculation surrounding the approval of a Bitcoin ETF has caused significant market volatility. A report from digital asset manager Matrixport predicted that the Securities and Exchange Commission (SEC) would reject all spot Bitcoin ETF applications in January, causing Bitcoin's price to drop over 7% and fall below $42,000. However, experts criticized the Matrixport report for its improper sourcing and faulty analysis, maintaining confidence that a Bitcoin ETF will be approved this month. Following these reassurances, Bitcoin's price rebounded to pre-Matrixport levels. Despite rumors that the SEC would approve its first Bitcoin ETF on Friday, no announcement was made, leaving the crypto community in a state of uncertainty.