Bitcoin: Decoding why BTC fell below $20k mark on 30 June - Aliens: AI Crypto News & Markets Updates
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Bitcoin: Decoding why BTC fell below $20k mark on 30 June

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AMB Crypto

Fri, Jul 01, 2022

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Aliens TLDR

Crypto bears initiated a fresh assault on Bitcoin [BTC] in the morning of 30 June, pushing the king cryptocurrency below $20,000.

The market’s reaction to the SEC shooting down Grayscale’s Bitcoin ETF is unsurprising considering the high expectations attached to it.

Today, the SEC denied our application to convert $GBTC to a spot #Bitcoin ETF.

Bitcoin’s sell-off also triggered higher exchange inflows than exchange outflows in the last 24 hours.

This means the hopes of a spot Bitcoin ETF are still alive but may not materialize within the next few months.

Bitcoin maximalists will now have to hope for a different catalyst other than a spot ETF

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