Cryptocurrency Q&A
Why did bitcoin price drop 2 days after spot ETF approvals?
Why did bitcoin price drop 2 days after spot ETF approvals?
EthereumEmpress
Mon Jul 15 2024
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6 answers
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Could you elaborate on the reasons behind the sudden drop in Bitcoin's price, specifically two days after the approval of spot ETFs? Was it a mere coincidence or were there underlying factors at play? Did investors anticipate a different outcome from the ETF approvals? Did the market react negatively to the perceived lack of liquidity or potential for manipulation in these new financial products? Were there any specific events or news releases that might have triggered this market movement? Understanding the root causes of such volatility is crucial for investors to make informed decisions in the volatile world of cryptocurrencies.
6 answers
KimonoGlory
Wed Jul 17 2024
Within just two days, spanning January 11th to January 12th, the BTC price declined by a steep 6.8%.
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Alessandro
Wed Jul 17 2024
Immediately following the approval of the spot Bitcoin exchange-traded fund (ETF), the Bitcoin price underwent a significant drop.
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DigitalLordGuard
Tue Jul 16 2024
Among the various platforms and exchanges in the crypto space, BTCC, a UK-based exchange, offers a comprehensive range of services including spot trading, futures trading, and a secure digital wallet.
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DongdaemunTrend
Tue Jul 16 2024
This price correction has led Cointelegraph to delve deeper into the reasons behind the sudden fall.
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Carolina
Tue Jul 16 2024
Experts suggest that the drop could be attributed to the 'sell-the-news' phenomenon, where investors sell off their holdings following a major announcement or news event.
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