bitcoin, one of the most popular blockchain networks, has increased its non-fungible token trading sales volume after rumors began to spread about the US Securities and Exchange's rejection of some of the bitcoin exchange-traded funds. full. The regulatory commission has until January 10, 2024 to approve or reject bitcoin ETFs.
MatrixPort, a company I've never heard of comes out and says that (in their opinion) the ad bitcoin?src=hash&ref_src=twsrc%5Etfw”>#bitcoin The SEC will not approve ETFs this month.
They are one company. Maybe they are right. They may be wrong.
This report is causing this liquidation in bitcoin?src=hash&ref_src=twsrc%5Etfw”>#bitcoin this morning. pic.twitter.com/K8UMifAsOY
– Caleb Franzen (@CalebFranzen) January 3, 2024
bitcoin ETFs spark heated discussion
On January 3, an analyst at Matrixport, a little-known crypto news website, convinced the crypto community that the long-awaited bitcoin exchange-traded funds will likely be rejected again this January. The reckless statement has instilled fear, doubt, and uncertainty in the crypto industry.
Matrix on Target projects a January rejection of bitcoin spot ETFs by the SEC, warning traders to hedge long exposure. With #SECOND President Gensler's skepticism toward crypto?src=hash&ref_src=twsrc%5Etfw”>#cryptoa potential -20% bitcoin?src=hash&ref_src=twsrc%5Etfw”>#bitcoin Price drop expected #ETF Denial, although a positive end to 2024… pic.twitter.com/IgaMhBJtiP
-Matrixport (@realMatrixport) January 3, 2024
By description, bitcoin ETFs are exchange-traded funds that track the value of bitcoin and are traded on traditional market exchanges rather than crypto exchanges. bitcoin ETFs will allow investors to invest in bitcoin without the hassle of using a crypto exchange while also providing leverage on its price.
The United States Securities and Exchange Commission has issued a deadline of December 29 for applications for exchange-traded funds. Companies that filed amendments during the open period include BlackRock, VanEck, Valkyrie, Bitwise, Invesco, Fidelity and WisdomTree. Other companies, including Ark Invest and Grayscale, also recently filed amendments.
<img decoding="async" class="alignnone wp-image-469800" alt="bitcoin ETF” width=”840″ height=”367″ srcset=”https://technicalterrence.com/wp-content/uploads/2024/01/Bitcoin-NFT-Sales-Drop-8-After-Rumors-Started-Spreading-About”https://technicalterrence.com/crypto/bitcoin/”>bitcoin-ETFs-300×131.png 300w, https://technicalterrence.com/wp-content/uploads/2024/01/Bitcoin-NFT-Sales-Drop-8-After-Rumors-Started-Spreading-About”https://technicalterrence.com/crypto/bitcoin/”>bitcoin-ETFs-1024×448.png 1024w, https://technicalterrence.com/wp-content/uploads/2024/01/Bitcoin-NFT-Sales-Drop-8-After-Rumors-Started-Spreading-About”https://technicalterrence.com/crypto/bitcoin/”>bitcoin-ETFs-768×336.png 768w, https://technicalterrence.com/wp-content/uploads/2024/01/Bitcoin-NFT-Sales-Drop-8-After-Rumors-Started-Spreading-About”https://technicalterrence.com/crypto/bitcoin/”>bitcoin-ETFs.png 1096w” data-lazy-sizes=”(max-width: 840px) 100vw, 840px” src=”https://technicalterrence.com/wp-content/uploads/2024/01/Bitcoin-NFT-Sales-Drop-8-After-Rumors-Started-Spreading-About”https://technicalterrence.com/crypto/bitcoin/”>bitcoin-ETFs-300×131.png”/>bitcoin-ETFs-300×131.png” alt=”bitcoin ETF” width=”840″ height=”367″ srcset=”https://technicalterrence.com/wp-content/uploads/2024/01/Bitcoin-NFT-Sales-Drop-8-After-Rumors-Started-Spreading-About”https://technicalterrence.com/crypto/bitcoin/”>bitcoin-ETFs-300×131.png 300w, https://technicalterrence.com/wp-content/uploads/2024/01/Bitcoin-NFT-Sales-Drop-8-After-Rumors-Started-Spreading-About”https://technicalterrence.com/crypto/bitcoin/”>bitcoin-ETFs-1024×448.png 1024w, https://technicalterrence.com/wp-content/uploads/2024/01/Bitcoin-NFT-Sales-Drop-8-After-Rumors-Started-Spreading-About”https://technicalterrence.com/crypto/bitcoin/”>bitcoin-ETFs-768×336.png 768w, https://technicalterrence.com/wp-content/uploads/2024/01/Bitcoin-NFT-Sales-Drop-8-After-Rumors-Started-Spreading-About”https://technicalterrence.com/crypto/bitcoin/”>bitcoin-ETFs.png 1096w” sizes=”(max-width: 840px) 100vw, 840px”/>
Fountain: bitcoin-etfs/”>VettaFi, bitcoin exchange-traded funds
bitcoin nft sales drop 8% in the last 24 hours
The non-fungible token market has reacted sharply to Matrixport's reckless statement, with bitcoin-based NFTs losing their initial streak in just a few hours. In the last 24 hours, bitcoin-based NFTs have recorded a trading volume of $18 million, down 8% from the previous day.
<img decoding="async" class="alignnone wp-image-469801" alt="bitcoin nft Sales” width=”842″ height=”331″ srcset=”https://technicalterrence.com/wp-content/uploads/2024/01/Bitcoin-NFT-Sales-Drop-8-After-Rumors-Started-Spreading-About”https://technicalterrence.com/crypto/bitcoin/”>bitcoin–nft-Sales-300×118.png 300w, https://technicalterrence.com/wp-content/uploads/2024/01/Bitcoin-NFT-Sales-Drop-8-After-Rumors-Started-Spreading-About”https://technicalterrence.com/crypto/bitcoin/”>bitcoin–nft-Sales.png 720w” data-lazy-sizes=”(max-width: 842px) 100vw, 842px” src=”https://technicalterrence.com/wp-content/uploads/2024/01/Bitcoin-NFT-Sales-Drop-8-After-Rumors-Started-Spreading-About”https://technicalterrence.com/crypto/bitcoin/”>bitcoin–nft-Sales-300×118.png”/>bitcoin–nft-Sales-300×118.png” alt=”bitcoin nft Sales” width=”842″ height=”331″ srcset=”https://technicalterrence.com/wp-content/uploads/2024/01/Bitcoin-NFT-Sales-Drop-8-After-Rumors-Started-Spreading-About”https://technicalterrence.com/crypto/bitcoin/”>bitcoin–nft-Sales-300×118.png 300w, https://technicalterrence.com/wp-content/uploads/2024/01/Bitcoin-NFT-Sales-Drop-8-After-Rumors-Started-Spreading-About”https://technicalterrence.com/crypto/bitcoin/”>bitcoin–nft-Sales.png 720w” sizes=”(max-width: 842px) 100vw, 842px”/>
Fountain: bitcoin?timeFrame=week&headerPeriod=1d”>CryptoSlam.io, bitcoin nft Trading Activity
On the other hand, bitcoin, the leading digital asset by market capitalization, has reacted to the bearish statement, plunging 5.49% in the last 24 hours. bitcoin moved from the $45,000 level to the $40,000 level after the post began to spread. At the time of writing, bitcoin has regained some strength and is now trading at $42,439.
<img decoding="async" class="alignnone wp-image-469803" alt="bitcoin Trading Activity” width=”839″ height=”411″ srcset=”https://technicalterrence.com/wp-content/uploads/2024/01/Bitcoin-NFT-Sales-Drop-8-After-Rumors-Started-Spreading-About”https://technicalterrence.com/crypto/bitcoin/”>bitcoin-Trading-Activity-300×147.png 300w, https://technicalterrence.com/wp-content/uploads/2024/01/Bitcoin-NFT-Sales-Drop-8-After-Rumors-Started-Spreading-About”https://technicalterrence.com/crypto/bitcoin/”>bitcoin-Trading-Activity-1024×501.png 1024w, https://technicalterrence.com/wp-content/uploads/2024/01/Bitcoin-NFT-Sales-Drop-8-After-Rumors-Started-Spreading-About”https://technicalterrence.com/crypto/bitcoin/”>bitcoin-Trading-Activity-768×376.png 768w, https://technicalterrence.com/wp-content/uploads/2024/01/Bitcoin-NFT-Sales-Drop-8-After-Rumors-Started-Spreading-About”https://technicalterrence.com/crypto/bitcoin/”>bitcoin-Trading-Activity-130×63.png 130w, https://technicalterrence.com/wp-content/uploads/2024/01/Bitcoin-NFT-Sales-Drop-8-After-Rumors-Started-Spreading-About”https://technicalterrence.com/crypto/bitcoin/”>bitcoin-Trading-Activity-104×50.png 104w, https://technicalterrence.com/wp-content/uploads/2024/01/Bitcoin-NFT-Sales-Drop-8-After-Rumors-Started-Spreading-About”https://technicalterrence.com/crypto/bitcoin/”>bitcoin-Trading-Activity-83×40.png 83w, https://technicalterrence.com/wp-content/uploads/2024/01/Bitcoin-NFT-Sales-Drop-8-After-Rumors-Started-Spreading-About”https://technicalterrence.com/crypto/bitcoin/”>bitcoin-Trading-Activity.png 1164w” data-lazy-sizes=”(max-width: 839px) 100vw, 839px” src=”https://technicalterrence.com/wp-content/uploads/2024/01/Bitcoin-NFT-Sales-Drop-8-After-Rumors-Started-Spreading-About”https://technicalterrence.com/crypto/bitcoin/”>bitcoin-Trading-Activity-300×147.png”/>bitcoin-Trading-Activity-300×147.png” alt=”bitcoin Trading Activity” width=”839″ height=”411″ srcset=”https://technicalterrence.com/wp-content/uploads/2024/01/Bitcoin-NFT-Sales-Drop-8-After-Rumors-Started-Spreading-About”https://technicalterrence.com/crypto/bitcoin/”>bitcoin-Trading-Activity-300×147.png 300w, https://technicalterrence.com/wp-content/uploads/2024/01/Bitcoin-NFT-Sales-Drop-8-After-Rumors-Started-Spreading-About”https://technicalterrence.com/crypto/bitcoin/”>bitcoin-Trading-Activity-1024×501.png 1024w, https://technicalterrence.com/wp-content/uploads/2024/01/Bitcoin-NFT-Sales-Drop-8-After-Rumors-Started-Spreading-About”https://technicalterrence.com/crypto/bitcoin/”>bitcoin-Trading-Activity-768×376.png 768w, https://technicalterrence.com/wp-content/uploads/2024/01/Bitcoin-NFT-Sales-Drop-8-After-Rumors-Started-Spreading-About”https://technicalterrence.com/crypto/bitcoin/”>bitcoin-Trading-Activity-130×63.png 130w, https://technicalterrence.com/wp-content/uploads/2024/01/Bitcoin-NFT-Sales-Drop-8-After-Rumors-Started-Spreading-About”https://technicalterrence.com/crypto/bitcoin/”>bitcoin-Trading-Activity-104×50.png 104w, https://technicalterrence.com/wp-content/uploads/2024/01/Bitcoin-NFT-Sales-Drop-8-After-Rumors-Started-Spreading-About”https://technicalterrence.com/crypto/bitcoin/”>bitcoin-Trading-Activity-83×40.png 83w, https://technicalterrence.com/wp-content/uploads/2024/01/Bitcoin-NFT-Sales-Drop-8-After-Rumors-Started-Spreading-About”https://technicalterrence.com/crypto/bitcoin/”>bitcoin-Trading-Activity.png 1164w” sizes=”(max-width: 839px) 100vw, 839px”/>
Fountain: bitcoin+price+usd&oq=Bit&gs_lcrp=EgZjaHJvbWUqDwgCEEUYOxiDARixAxiABDIGCAAQRRg7MgYIARBFGDsyDwgCEEUYOxiDARixAxiABDIGCAMQRRg5Mg0IBBAAGIMBGLEDGIAEMg0IBRAAGIMBGLEDGIAEMgYIBhBFGEAyDQgHEAAYgwEYsQMYgATSAQkzOTg2ajBqMTWoAgCwAgA&sourceid=chrome&ie=UTF-8″>Google, bitcoin trading activity
It is worth noting that the non-fungible token market has a strange and strong relationship with the cryptocurrency market, similar to that of a father and son. In that context, anything that affects the cryptocurrency market will automatically affect the nft market. This is why the bitcoin ETF narrative impacts the nft market.
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