Reasons Why Bitcoin is Dumping after the historic spot ETF approval ?
1) There was a strong speculation leading towards the ETF approval, now it's approved people doesn't have anything to speculate on and many expected it to pump towards $55k after approval coz that didn't happen people are just taking profits or selling in disappointment.
2) Bitcoin pumped from the Bottom of $15,400 to $49,000 with fomo elements of ETF so the correction was naturally due and this might be sell thenews event fo. many who bought bitcoin earlier below
$20k.
My personal opinion - Bitcoin ETF will become more popular in Wall Street and we will see companies allocating billions to Bitcoin over time which will send BTC to $100k - easily. So hold tight and be patient.
