Why did Bitcoin plummet? The market took this analysis seriously

Adam Button, an analyst at the financial website Forexlive, said that a report from Financial Service company Matrixport is circulating in the market, reporting that the US Securities and Exchange Commission (SEC) will refuse to approve BitcoinSpot ETF this month, and the author is its research director Marcus Tillen. The report was apparently speculation, but it was presented as if it were a true report and that the analysis had some basis. The basis for the report is that the SEC’s approval process is “Democratic-led” and that “SEC Chairman Gensler does not accept Crypto Assets” and therefore expects him to approve Spot ETFs “very slim.” Button sees Bitcoin ETFs as a “sell fact” trade, but as we continue to await approval, there is an opportunity to “buy in rumors” in this decline. But any market that Fluctuation of 6% as a result of such reporting is just one step away from a 20% decline.