Matrixport analyst Markus Thielen said the Securities and Exchange Commission will likely reject all bitcoin spot ETF proposals this month. He argued the applications still fall short of a critical requirement that must be met before the SEC can approve them. This has caused a sharp market selloff that caught a lot of investors off guard.
There’s a lot of anger as Matrixport is pretty unheard of in the industry. I’ve seen a lot of post calling for manipulation ahead of an actual approval.
Thielen based his perspective on the political dynamics and compliance concerns. The analyst argued that while an ETF would help enable crypto to take off in the U.S., the SEC chair still sees the industry as needing more stringent controls. I don’t necessarily disagree as I personally believe Gary the SEC chair does have a personal vendetta against the crypto space. I have nothing against writing this opinion, but I do find it unbelievable that this is how the market reacts from what I would call small news.
BTC is trying to find a base and for those with a higher risk tolerance these prices might be a good entry knowing there could be more downside as shown by this market reaction.
I think it is great buying opportunity
I hope so
Good
I want sub 40K…….🙏
If we go sub 40 it might be a hard fight back up
Good….
It was really a bloody day at the Crypto space
Pretty wild
I won't be surprised if it comes out as manipulation. One story should be taken with a pinch of salt, especially one that comes out of nowhere.
Yeah it sure felt like a reason to manipulate
Thanks for the information. Good day.
No problem it was a bit of a quick one since I was limited on time
I would hope we would be past the point where any idiot with a keyboard can cause so much disruption. It's pretty ridiculous. It definitely feels like manipulation to me.
I thought we were last it too. It shows that crypto can be manipulated and I bet it's a few people that planned this.
yes, a good entry point for those who were waiting.
This is true
It's weird to see a single story get so much attention but anything could happen. I honestly do think that the ETF might not get approved but that is because of Gensler but that would only delay things.
market reacted to the news very badly.
The market really went so bloody
Really curious how it will evolve in the near future 🤔