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Bitcoin: Decoding why BTC fell below $20k mark on 30 June
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Crypto bears initiated a fresh assault on Bitcoin [BTC] in the morning of 30 June, pushing the king cryptocurrency below $20,000. The sell-off started shortly after Grayscale announced that its Bitcoin application did not go through.
The market’s reaction to the SEC shooting down Grayscale’s Bitcoin ETF is unsurprising considering the high expectations attached to it. Many crypto investors believe that a spot ETF approval represents a white swan event- desperately needed to encourage a healthy and bullish price action.
<p lang=«en» dir=«ltr» xml:lang=«en»>Today, the SEC denied our application to convert $GBTC to a spot #Bitcoin ETF. Read more on ambcrypto.comAbout this in other media
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