What is just happened on the Bitcoin Market?

[Shishir99]

Bitcoin was around $45K to $45.5K for the whole day, but it started going down for the last two hours. Bitcoin just touched $40.7K, and now it's around $42K again. I was trying to figure out what had just happened. Bitcoin lost $3K in two hours and alts are now bleeding. There are several negative news just popped up and some of them are

* SEC will REJECT Bitcoin Spot ETFs Again Says Matrixport Report
* Miners Unload BTC to Exchanges
* Matrixport Predicts Bitcoin Price Dip To $36k Amid SEC’s Potential Rejection Of BTC Spot ETF

Which one could be reason of such movement?

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[AHOYBRAUSE]

Bitcoin was around $45K to $45.5K for the whole day, but it started going down for the last two hours. Bitcoin just touched $40.7K, and now it's around $42K again. I was trying to figure out what had just happened. Bitcoin lost $3K in two hours and alts are now bleeding. There are several negative news just popped up and some of them are

* SEC will REJECT Bitcoin Spot ETFs Again Says Matrixport Report
* Miners Unload BTC to Exchanges
* Matrixport Predicts Bitcoin Price Dip To $36k Amid SEC’s Potential Rejection Of BTC Spot ETF

Which one could be reason of such movement?

Yeah hard to say. I also googles right after the drop happened but first I didn't really find anything.
Then I saw there have have been some twitter posts of some influential people spreading fear of ETF rejection and so on.

It was all good and then within minutes this 10% drop.
But we all are used to it, that's nothing new to the crypto community.
Whatever pushes or pulls the price is always a mystery for me, as usual.

[Hazink]

I don't think it was in this forum; maybe it was somewhere else, but I said yesterday that this price we are seeing is just temporary. I don't see bitcoin reaching that $45k that early in 2024; it was a surprise move, which can happen.
 
Many people were looking at the market move as if the bull run had already begun, and some already predicted the next jump to be $48,000 to $50,000 before the end of the week, but now the price is dipping, which is not a surprise to me. Before the end of the day, we might even see it at $39,000 or below, but that's also going to be temporary as it will take a revert, but in a gradual process this time.

[Oshosondy]

What I read on the news is related to spot bitcoin ETF and also about how it is believed that if United States SEC prolonging it, that the approval might not be in Q1 of 2024. While an analyst also said if SEC do not approve it on time that it might be rejected. Probably this caused the market to react and people sold some coins.

[AirtelBuzz]

Bitcoin was around $45K to $45.5K for the whole day, but it started going down for the last two hours. Bitcoin just touched $40.7K, and now it's around $42K again. I was trying to figure out what had just happened. Bitcoin lost $3K in two hours and alts are now bleeding. There are several negative news just popped up and some of them are

* SEC will REJECT Bitcoin Spot ETFs Again Says Matrixport Report
* Miners Unload BTC to Exchanges
* Matrixport Predicts Bitcoin Price Dip To $36k Amid SEC’s Potential Rejection Of BTC Spot ETF

Which one could be reason of such movement?

When I was watching the market this morning, the price of Bitcoin was around $46,000, but when I checked the market this afternoon, I saw that the price of Bitcoin had dropped to around $41,000. But now it has increased to more than $42,000 thousand dollars.

This is the reason for the dump.

X

[GreatArkansas]

I can say that the reason is the panic of people about these articles about saying Bitcoin ETF approvals will be possible this January.
Since it is still not true, for me, the run will continue until it is proven, that this dump of what happened is only an advertisement for this run.

[Ziskinberg]

What I read on the news is related to spot bitcoin ETF and also about how it is believed that if United States SEC prolonging it, that the approval might not be in Q1 of 2024. While an analyst also said if SEC do not approve it on time that it might be rejected. Probably this caused the market to react and people sold some coins.

Yes. The said approval might not be possible this month, so it’s like it could happen at the year end, or it might be spot bitcoin ETF approval might be denied. When that happens, it’s predicted that bitcoin price might probably experience 20% price decline and may touch bitcoin price around $36k to $38k. Well, the price decline is a lot expected by us, but we all know this won’t last for months or year.

However, instead of seeing it negatively, I think the upcoming price decline if ever it will happen will open new opportunity for newcomers to buy and invest in bitcoin. That way, when bitcoin price starts to recover, they can ride already with the price surging and skyrocketing afterwards.

[Richbased]

What I read on the news is related to spot bitcoin ETF and also about how it is believed that if United States SEC prolonging it, that the approval might not be in Q1 of 2024. While an analyst also said if SEC do not approve it on time that it might be rejected. Probably this caused the market to react and people sold some coins.

I have almost same perception with you because I believe lots of people were inquisitive on selling their coin as soon as the price skyrocket to $45,000 i believe that was the reason for the dip but however ,our interest should be on spot bitcoin ETF being approved as that's the only way that Bitcoin will gain recognition by standard authority and there's gonna be an increase in it's adoption and thereby will lead to a big pump of Bitcoin as against other cryptocurrencies in the bull market.

[tranthidung]

I can say that the reason is the panic of people about these articles about saying Bitcoin ETF approvals will be possible this January.
Since it is still not true, for me, the run will continue until it is proven, that this dump of what happened is only an advertisement for this run.

Bitcoin Spot ETFs were applied for about 10 years ^[1] and were rejected many times. I am sorry if it will be not different this time even logically SEC messed up by approved Bitcoin Futures ETFs but don't do the same for Bitcoin Spot ETFs. The first application is in September 2013. ^[2]

A big correction for Bitcoin is expected to happen after it has a very green year and in monthly record, it already has 4 consecutive green months.

^[1] Over 10 Years Later, the U.S. Is Finally Ready For a Bitcoin ETF
^[2] Winklevoss twins file for $20 Million IPO of bitcoin trust fund

[Z-tight]

Which one could be reason of such movement?

Miners moving their rewards to exchanges and the 'negative' news about BTC spot etf in the U.S. could be the reason, but it is a small correction and it isn't significant to cause any panic. I believe some people have read these news and decided to dump their coins, but it does not matter, and so many of these weak hands will buy back again very soon. People who are worried about BTC price shouldn't be, there is demand for BTC and the supply would be halved very soon, so the price is expected to pump in some months time if history repeats itself.

[tabas]

Bitcoin was around $45K to $45.5K for the whole day, but it started going down for the last two hours. Bitcoin just touched $40.7K, and now it's around $42K again. I was trying to figure out what had just happened. Bitcoin lost $3K in two hours and alts are now bleeding. There are several negative news just popped up and some of them are

* SEC will REJECT Bitcoin Spot ETFs Again Says Matrixport Report
* Miners Unload BTC to Exchanges
* Matrixport Predicts Bitcoin Price Dip To $36k Amid SEC’s Potential Rejection Of BTC Spot ETF

Which one could be reason of such movement?

I think it's about Matrixport when most traders have seen that news, they've all sold. When they've seen that Matrixport "analyst" said that ETF will likely be rejected, everyone has unloaded all of their Bitcoins from their stashes and that has contribute to become one force in a massive selling. I'd say that this is just a FUD, no one knows what's happening inside SEC and how they're conducting the process but only them and those that have applied for it. IMHO, it was an effective one as always, expect that FUD like this will come out even before and after the halving if people don't mind about the ETF but I think we'll get more of it.

[Frankolala]

Bitcoin was around $45K to $45.5K for the whole day, but it started going down for the last two hours. Bitcoin just touched $40.7K, and now it's around $42K again. I was trying to figure out what had just happened. Bitcoin lost $3K in two hours and alts are now bleeding. There are several negative news just popped up and some of them are

* SEC will REJECT Bitcoin Spot ETFs Again Says Matrixport Report
* Miners Unload BTC to Exchanges
* Matrixport Predicts Bitcoin Price Dip To $36k Amid SEC’s Potential Rejection Of BTC Spot ETF

Which one could be reason of such movement?

FOMO is what have caused the price to dip from 45k down to 42k+ currently. You have provided good information on why the price dropped above and I still believe that it is related to SEC and the approval of spot ETF. So many institutions and investors bought last two months of the previous year because they heard rumors that SEC will approve ETF by the second week of January, but it seems that it will not be possible this month, and some weak hands are selling of their investments because they invested due to panic.

Maybe they used the money that is for something important in their lives to invest on short term but it seems that they are getting disappointed now.

[pinggoki]

What I read on the news is related to spot bitcoin ETF and also about how it is believed that if United States SEC prolonging it, that the approval might not be in Q1 of 2024. While an analyst also said if SEC do not approve it on time that it might be rejected. Probably this caused the market to react and people sold some coins.

A good news for people to still be able to get more bitcoin while there's still resistance in the prices to not pump towards a new ATH. Definitely the likely reason but I like to think that they want bitcoin to not go up right now because a lot of people are still planning to accumulate even more bitcoin so they can get more profit.

[m2017]

Bitcoin was around $45K to $45.5K for the whole day, but it started going down for the last two hours. Bitcoin just touched $40.7K, and now it's around $42K again. I was trying to figure out what had just happened. Bitcoin lost $3K in two hours and alts are now bleeding. There are several negative news just popped up and some of them are

* SEC will REJECT Bitcoin Spot ETFs Again Says Matrixport Report
* Miners Unload BTC to Exchanges
* Matrixport Predicts Bitcoin Price Dip To $36k Amid SEC’s Potential Rejection Of BTC Spot ETF

Which one could be reason of such movement?

This is exactly what is called volatility - that is, price fluctuations up and down. This happens often in the bitcoin market. Why be surprised - this is a common occurrence for bitcoin. This is what deters many from buying bitcoin and this is what is considered a disadvantage of bitcoin. But if you look from the other side, these fluctuations are precisely what allow traders to make money.

There could be any reason (or set of reasons). You probably won’t know what exactly prompted the BTC owners to sell. It could even be sales of bitcoin for holiday gift purchases. I would focus not on finding reasons, but on opportunities that can be used.

[Mahanton]

Bitcoin was around $45K to $45.5K for the whole day, but it started going down for the last two hours. Bitcoin just touched $40.7K, and now it's around $42K again. I was trying to figure out what had just happened. Bitcoin lost $3K in two hours and alts are now bleeding. There are several negative news just popped up and some of them are

* SEC will REJECT Bitcoin Spot ETFs Again Says Matrixport Report
* Miners Unload BTC to Exchanges
* Matrixport Predicts Bitcoin Price Dip To $36k Amid SEC’s Potential Rejection Of BTC Spot ETF

Which one could be reason of such movement?

MARKET MANIPULATION!

And this is something which it isnt surprising or something new into this market,specially now that institutional funds are already that flowing into this market then expect those
governing bodies and other correlated sectors would really be doing their best on taking profits and doesnt matter if it would really be that on manipulative way.
We've seen these stuffs back but it do becomes more rampant as of these years where government is already that getting involved or those sectors.

Look at on the price now? It starts to recover, as if there's nothing happened. So those are the ways that they could really be able to
make easy profits with those kind of shaking off and liquidating those long positions. So its not really that something new imho.
This is why as an investor then you should really be wise on how to ride with the waves or else then it would really be taking up that huge losses
if you wont really be that making yourself that wise on every decisions you do make.

[kentrolla]

It's bit scary when Bitcoin goes through such fluctuations which is absolutely normal for altcoins but I would say this was expected as there might be some dump or fluctuations and we may several such fluctuations.

As far as people with influence are spreading fuds about ETF rejection I am least bothered because they will fail and at the end of the day rejection of spot ETF doesn't define the price of Bitcoin forever hence let's not panic and if we are fearsome of ending up losing it all then have stop loses applied beyond certain limit.

[Wikkigolden]

What about the large influx of funds on Kraken and Binance over the past week? It looks like available selling pressure can be added to this

[Alpha Marine]

What we should know is that all these would cause only a short-term impact on Bitcoin price. As you can see it has gone back to $42k+ and it would certainly go more than that.

It may be due to market manipulation so the price can dip and they can buy it at a relatively lower price.
Also, don't be surprised all these are just so the SEC doesn't approve the Bitcoin EFT.
It's a cause to worry but it's no reason to fear.
The worry should be that Bitcoin is still not immune to manipulation and fluctuations like this. This can prevent adoption.
The "thou shall not fear" is that Bitcoin will keep growing and it will never die and that would give it more trust and make it stronger.

[lovesmayfamilis]

A convenient time for another purchase begins; those who have been waiting should take advantage of it. And yes, there is no such thing as Bitcoin going up forever; we've seen it many times, so a decline is likely. But why does everyone trust Greeks and Matrixport? When did they manage to turn into clairvoyants - analysts?

[Andreesep]

Just hold, halving will occur in some months.