JUST

Galaxy

Bitcoin

<div class="watcher-guru">
 <p>In a rather stunning turn of events for the asset, the Bitcoin (BTC) price has fallen amid speculation of a potential ETF rejection. The asset fell as much as 10% over the last 24 hours alone following Matrixport analyst Markus Thielen’s anticipation of overarching denials of the investment product by the US Securities and Exchange Commission (SEC).</p>
 <p>Theilen’s report states that all Spot <a rel="noopener noreferrer nofollow" title="Bitcoin ETF" href="https://thebittimes.com/tag/bitcoin-etf.html">Bitcoin ETF</a> applicants will fall short of “a critical requirement that must be met before the SEC can approve them.” Conversely, spot <a rel="noopener noreferrer nofollow" title="Bitcoin ETF" href="https://thebittimes.com/tag/bitcoin-etf.html">Bitcoin ETF</a> applicants Galaxy and Invesco released a video commemorating Bitcoin’s birthday after the news was released.</p>
 <figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter">
  <div class="wp-block-embed__wrapper">
   <blockquote class="twitter-tweet" data-width="550" data-dnt="true">
    <p lang="en" dir="ltr">JUST IN: Galaxy &amp; Invesco Spot #<a rel="noopener noreferrer nofollow" title="Bitcoin ETF" href="https://thebittimes.com/tag/bitcoin-etf.html">Bitcoin ETF</a> applicants release video celebrating Bitcoin's birthday. pic.twitter.com/NIrNSjtR4E</p>
    <div class="quads-location quads-ad33739 " id="quads-ad33739" style="float:none;margin:0px 3px 3px 3px;padding:0px 0px 0px 0px;">
     <div class="publift-ad add">
      <div data-fuse="22560828227"></div>
     </div>
    </div> — Watcher.Guru (@WatcherGuru) January 3, 2024
   </blockquote>
  </div>
 </figure>
 <p><strong>Also Read: Bitcoin Breaks $45,000: Eyes on $50,000 Before ETF Decision</strong></p>
 <h2 class="wp-block-heading" id="h-bitcoin-price-drops-as-etf-rejection-speculation-arises">Bitcoin Price Drops As ETF Rejection Speculation Arises</h2>
 <p>Over the last few months, the digital asset sector has been hyper-focused on the potential approval of a Spot <a rel="noopener noreferrer nofollow" title="Bitcoin ETF" href="https://thebittimes.com/tag/bitcoin-etf.html">Bitcoin ETF</a>. Moreover, as more than a dozen applications have been filed, optimism has abounded. The prevailing expectation is for an approval to be issued within the next week.</p>
 <div class="quads-location quads-ad15192 " id="quads-ad15192" style="float:none;margin:0px 3px 3px 3px;padding:0px 0px 0px 0px;">
  <div id="primisContainer" class="add"></div>
 </div>
 <p>However, that does not appear to be as certain as it was a week ago. Indeed, the asset started the year above $45,00 for the first time since 2022. Now, Bitcoin has seen its price fall amid speculation of an ETF rejection. Specifically, Matrixport’s Markus Thelien’s most recent report has highlighted the potential for denials across the board. Especially considering the SEC’s leadership and its history,</p>
 <figure class="wp-block-image size-large"><img decoding="async" width="1024" height="683" src="https://cdn.thebittimes.com/images/2024/01/03/a4e6faf4bb5f8676adf39bfffe02c8c6.webp" alt="Bitcoin etf" class="wp-image-117016" srcset="https://cdn.thebittimes.com/images/2024/01/03/a4e6faf4bb5f8676adf39bfffe02c8c6.webp 1024w, https://cdn.thebittimes.com/images/2024/01/03/a4e6faf4bb5f8676adf39bfffe02c8c6.webp 300w, https://cdn.thebittimes.com/images/2024/01/03/a4e6faf4bb5f8676adf39bfffe02c8c6.webp 768w, https://cdn.thebittimes.com/images/2024/01/03/a4e6faf4bb5f8676adf39bfffe02c8c6.webp 380w, https://cdn.thebittimes.com/images/2024/01/03/a4e6faf4bb5f8676adf39bfffe02c8c6.webp 550w, https://cdn.thebittimes.com/images/2024/01/03/a4e6faf4bb5f8676adf39bfffe02c8c6.webp 800w, https://cdn.thebittimes.com/images/2024/01/03/a4e6faf4bb5f8676adf39bfffe02c8c6.webp 1160w, https://cdn.thebittimes.com/images/2024/01/03/a4e6faf4bb5f8676adf39bfffe02c8c6.webp 1200w" sizes="(max-width: 1024px) 100vw, 1024px">
  <figcaption class="wp-element-caption">
   Source – Crypto News
  </figcaption>
 </figure>
 <p><strong>Also Read: Coinbase Says it Has Extensively Prepared for <a rel="noopener noreferrer nofollow" title="Bitcoin ETF" href="https://thebittimes.com/tag/bitcoin-etf.html">Bitcoin ETF</a> Approval</strong></p>
 <p>“SEC Chair Gary Gensler is not embracing crypto in the US, and it might even be a very long shot to expect that he would vote to approve bitcoin spot ETFs,” Theilen stated. “This might be fulfilled by Q2 2024, but we expect the SEC to reject all proposals in January.”&nbsp;</p>
 <p>Theilens’ perspective seems contrary to the wider market opinion. Yet, it has undoubtedly impacted the asset price. Specifically, it has fallen as much as 10% over the last 24 hours. Moreover, the entire digital asset sector has seen prices fall across the board.&nbsp;</p>
 <div class="quads-location quads-ad33742 " id="quads-ad33742" style="float:none;margin:0px 3px 3px 3px;padding:0px 0px 0px 0px;">
  <div class="publift-ad add">
   <div data-fuse="22560828233"></div>
  </div>
 </div>
 <p>Currently, the statements are all speculative, with no official decision set to be made until the end of this week. Subsequently, ETF applicants Galaxy and Invesco released a video celebrating Bitcoin’s birthday. The video was released after the news arose and speaks on the asset’s 15th anniversary.&nbsp;</p>
</div>
<div class="cs-entry__tags">
 <ul>
  <li>Bitcoin ETF</li>
 </ul>
</div>
<p>Source: <a rel="noopener noreferrer nofollow" target="_blank" href="https://thebittimes.com/bitcoin-price-falls-amid-speculation-of-etf-rejection-tbt75458.html">https://thebittimes.com/bitcoin-price-falls-amid-speculation-of-etf-rejection-tbt75458.html</a></p>

Bitcoin Price Falls Amid Speculation of ETF Rejection

Table of Contents

TheBitTimes

Other articles published on Jan 3, 2024

Popular Analyst Puts Solana At $1,000 And XRP At $7, Here’s The Roadmap

Bitcoin (BTC) Price Analysis: Heightened Volatility Rattles Bulls – 4 January 2024

Revolutionizing Crypto: Project Pandoshi’s Innovative Staking & Deflationary Token

Aptos Crypto: Can APT Price Resurgence Continue & Break Channel?

CoinShares sees $2.2b influx in 2023 crypto product investments

Why Is DOCK Price Up By 21%?

Join our free newsletter for daily crypto updates!