What is just happened on the Bitcoin Market?

[SquirrelJulietGarden]

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?

We can not trust them and previous rumor that Bitcoin Spot ETFs will be approved this year, in just few more days. All are rumors to make the market participants become greed and fearful.

Time flies so fast and time will help us to know the fact and decision of SEC. At the moment, we can not verify and be sure about anything regards to Bitcoin Spot ETFs.

The only thing we are sure is Bitcoin halving will happen in Q2 2024. Make our investment plan with halving is better and simply think that Bitcoin Spot ETF is something to happen or not this year. But don't think it is a biggest contributor for Bitcoin bull run in 2024 and 2025.

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[avikz]

Which one could be reason of such movement?

It's not possible to single out a reason for such bleeding. There could multiple things in play. But it's usually due to negative sentiments around the market. That negative sentiments can be induced by multiple things.

When miners send bulk Bitcoins to exchanges, the general reason is to sell off the Bitcoins to recover profit. So the price is dropping significantly as the market is expecting a huge dump of Bitcoins. But that's not the only reason. The nature of crypto market is volatile so I always suggest people to not completely rely on cryptocurrency only.

[moneystery]

i think too many people are spreading fud in the market so it causes the price of bitcoin to experience a slight correction. moreover, the issue of bitcoin etfs has become quite a hot topic in recent times, and negative things related to it can trigger investors to sell bitcoin and cause the market to become slightly bearish. but there is no need to panic, the price of bitcoin is still at a good level even though it is a little unstable.

[Ucy]

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......

It was responding to something else which can be found in this forum.
Anyway, it's simply the bear moving backwards to gain enough energy to chase the bull down the hill. Expect to see a massive increase in number of bears in the market with too much energy for the bull to withstand.
This should have happened end of last year but we noticed other people predicting massive dip and continues uptrend... We found a middle ground and settle there for sometimes so that there will be a clear distinction and the credit goes to the ONE who deserves it alone

[EL MOHA]

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.

People predicting the rise of bitcoin price where actual doing it on the cause that the bitcoin ETF will be approved as such many people bought for a short time since it was believed that an approval would cause the bitcoin to do a mini bull run but Due to FOMO which we have already been seeing by the fake news of its approval getting the price to pump. Now a denial or postponement is rumored it is not a big surprise that we hit such dip in few hours time. If the news even comes out true self then the price will break the $40000 mark and will be in fluctuation throughout this month. It’s time to accumulate more before the real bull run arrives though

[DeathAngel]

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?

Seems like FUD from some low quality, unreliable online news outlet. There is nothing to worry about, no reliable sources are reporting that there will be rejections. Just seems like regular market movements, let’s see what transpires over the next week.

[Shishir99]

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.

The thing is Matrixport already predicted that Bitcoin may drop and will touch the 36K range. The rumor of ETF rejection manipulated the entire market just in two hours. All we doing at this moment is speculation and prediction. Did the SEC reject the ETF proposals yet? Nobody knows. However, some media and social media influencers spread negativity which led to this movement.

As tranthidung pointed out below, it is not the first time ETF was proposed and it's not the first time it was rejected (even though the news of the rejection is not sure yet). But since everyone expecting ETF approval this year, people have high expectations of ETF approvals. If it gets rejected, we may see another dump. The question is, how long it may take to bounce back with the halving event coming in few months?

[Jawhead999]

Isn't that normal? you can't expect Bitcoin price will keep increase despite bull run will happen, so small drop is fine, until Bitcoin price keep decrease everyday.

The reason miners send BTC to exchanges doesn't make sense, big amounts transfer is happen for many times, you can check it here https://t.me/s/whale_alert_io

As for Matrixport's article, they could be right or could be wrong, but it's crazy people are gambling in Bitcoin ETFs by put $10 Billion in futures.

[suzanne5223]

Which one could be reason of such movement?

I believe the major reason behind the dump in the price of the market is the miners that unload BTC to exchange which is literally to sell it and this is not the first time they will do it. Besides, they did the same thing in 2016 and 2020 but one thing is sure when the dump happened some people took advantage of it. However, it is sad that in the last 4hours, $540,000,000 was liquidated from the crypto market.
About the Bitcoin spot ETF, I don't strongly believe in the rejected news because the powerful organization always brainwashes people through false news to manipulate the market and buy cheap.
I just hope you guys understand that the crypto community is now dealing with the most powerful investment companies in the world and we should not pay attention to false news like we used to or else we end up selling our bag to BlackRock, Fidelity, Galaxy, Invesco, and others.

[bluebit25]

Reacting to news ,
yep it's really typical in the crypto market, I took a look and noticed some news about predictions that have affected the price, looking at it from a positive perspective it's still valid proves that this market is still very small in scale and susceptible to price manipulation. I believe that in the coming days, news surrounding ETFs will continue to bring about a volatile atmosphere. Looking back, after the recent news, everything is returning to normal as if nothing had happened some of the liquidation statistics on CEX make me quite laughable.

[stomachgrowls]

Isn't that normal? you can't expect Bitcoin price will keep increase despite bull run will happen, so small drop is fine, until Bitcoin price keep decrease everyday.

The reason miners send BTC to exchanges doesn't make sense, big amounts transfer is happen for many times, you can check it here https://t.me/s/whale_alert_io

As for Matrixport's article, they could be right or could be wrong, but it's crazy people are gambling in Bitcoin ETFs by put $10 Billion in futures.

People should realize this on which it cant be called a market if it would really be just having a single path or movement to take but there are really those people who are really expecting that it would really be just simply moving up and they would make money so easily. Well, only newbies or those new people would really be just having that kind of belief into their minds until that reality would be slapping out into their faces.
We do know that this market is really that unpredictable, i do agree into those points been said that manipulation is something that evident or pretty obvious. Market could dump out on -10% or even -20% in a flash
on which it is neither been caused by some FUD or really just totally having no reason at all.

This is why on the time that those flash dumps happen then tons of people would be shaken off and making those panic selling into their current positions which it do leads into that
buy high sell low thing and this is where it would be resulting into negative and when it comes worst then they have that blown out trading account or investment.
Be realistic and be wary on how this market behaves or moves so that you wont really be getting shocked on the time you do encounter it.

[lovesmayfamilis]

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.

The thing is Matrixport already predicted that Bitcoin may drop and will touch the 36K range. The rumor of ETF rejection manipulated the entire market just in two hours. All we doing at this moment is speculation and prediction. Did the SEC reject the ETF proposals yet? Nobody knows. However, some media and social media influencers spread negativity which led to this movement.

As tranthidung pointed out below, it is not the first time ETF was proposed and it's not the first time it was rejected (even though the news of the rejection is not sure yet). But since everyone expecting ETF approval this year, people have high expectations of ETF approvals. If it gets rejected, we may see another dump. The question is, how long it may take to bounce back with the halving event coming in few months?

It is noteworthy that just yesterday they predicted something completely different.
https://www.matrixport.com/institutions/research/daily-insights/811
Looks a lot like manipulation.

[franky1]

matrix report mentions that the etf applicants wont meet the SEC criteria. but matrixreport makes no suggestions of the SEC criteria and how it assumes the applicants are not meeting the criteria

from what i can see the SEC has been in full talks with applicants to tell them directly of the criteria needed and the applicants had until dec 29th to meet the criteria and file an update to show all criteria met.
ready for the begining of announcements to start from jan 10th
even suggestions that if the applicant was not ready to meet criteria there was no point of filing updates at the end of december as the SEC would be busy reviewing the ones that do meet the criteria that did file correctly

so in my view by them filing updates at the end of december the applicants feel they have met all of SEC's needs

if the SEC denies now then the SEC did not fully communicate its needs/criteria. which is a failure on SEC's part

i will say however that i do not believe all dozen applicants will get approved at same time. but there are some notable ones that show good confidence of meeting SEC needs as of end of december

[MFahad]

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?

​Of course, Bitcoin was in the best position,and was trading above $45k for many hours, and it didn't look like Bitcoin could suddenly fall like this. the cryptocurrency market is always heavily influenced by news, which often causes the market to crash in the same way. the account from which this news is reported is not a very famous account. there are a lot of media sources that are saying that no, nothing like that is going to happen.

There is no specific source for this account and many people may not even know about it in, but because of this news, people panicked. however, in crypto it is always people like this who create panic. we don't know who is right now, but bad news always spreads very quickly, which is why the price of Bitcoin suddenly dropped from $45k to $40.7.if this news is true then there are chances of bitcoin to fall to $36k otherwise bitcoin may go back to 45k soon.
​

[Fivestar4everMVP]

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?

Well, possibly all of those news are responsible for the sharp decline in the price of bitcoin, but then, though this speculations could indeed trigger some people to want to dump their bitcoin early so they could buy it back cheaper when the SEC finally rejects or fail to approve bitcoin spot ETF on the 10th of January, I personally will still suggest we hold as still could as well be a manipulation to enable them buy bitcoin at a cheaper rates before the spot ETF finally gets approved on the 10th.

But then again, even if they are right, that the ETF fails to get approved, most likely the price of bitcoin would drop, this is not bad as it is still another opportunity given us to accumulate even more bitcoins in anticipation for the coming halving, and as well the ETF approval, for it must be surely approved within this year.

[Franctoshi]

Aside from all this rumours If you had checked the Chart, technically Bitcoin was due for a major correction or cool off after we claimed the zone of 45k, not only that, there are other possible reasons too, today when I checked on the DXY chart I noticed that the price has hit an ultimate level of support and got a bounce, DXY have always had a negative correlation with Bitcoin , lastly the rumors that the Bitcoin spot ETFs may not get approved this January.

[Dimitri94]

As the spot ETF approval time approaches, there is a lot of excitement in the market. Any rumor can cause the market to go down. I myself have seen the market most of the time in a day where the market condition was good but suddenly in just 1 hour everything is red. At first I couldn't believe, anyway now everyone should be aware. There is likely to be more drama with ETFs. If the time increases, then you have to wait for a few more days. But as much as we will wait for the ETF, the time of Halving will be more closer. But in such a situation we should be a little calmer without taking immediate decisions. Different whalers will make different types of games with the market. So nothing to do but be careful.

[serjent05]

Which one could be reason of such movement?

People are taking profit...   That is one of the reasons why the price of BTC went down to $40.7k from $45k and people saw that Bitcoin price gets cheaper so many bought it pushing it towards $42k again.  This kind of market movement is not new in the Bitcoin market, this is the reason why Bitcoin is labeled highly volatile because the price highly fluctuates.

I do not think the news about the opinion of Matrixport about ETF rejection is one of the reasons.  I do not think traders and investors will fall to this statement by Matrixport.

[Dr.Bitcoin_Strange]

What is just happened on the Bitcoin Market?

Be it as it may, what happened is that there was a price drop, and it could have been caused by the few updates on the OP or could also be for just some reason that has not yet been accurately laid out. You are no longer new to the space, so you should know better by now. During the month of August last year, Bitcoin went from $30k+ to $26k, and the price drop was quite questionable, but the price swing of Bitcoin is not something that is new for a Bitcoiner unless you are a newbie. Anytime the price of Bitcoin drops, it's an opportunity to buy more, so, buy more and hold.

[ZAINmalik75]

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 there is could be only one reason for such a movement, which is Bitcoin Spot ETF approval. Despite this, there are totally just a rumors that on January 2 January will be approval of Bitcoin Spot ETF which rose so much because of the tweet of Galaxy CEO and Bitcoin Spot ETF applicant, which created a suspense to spread the fud among the people that Big things are coming in the new year which can also be seen in the tweet, and after that people got excited and started Buying. At the end whales overturned the market and grabbed the remaining raw Bitcoins. This is always a trick of Wales that spreads some fake news in the market and creats some panic to collect the remaining Bitcoin. And I knew this rise was a trap of the market manipulator, they spread some fake news, Bitcoin did a correction, and suddenly the manipulator brought a dump.