Bloomberg ETF analyst Eric Balchunas, who often shares updates on Bitcoin spot ETF progress, responded to market sell-offs caused by speculation of the SEC’s rejection.
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Matrixport analyst: Expects all ETFs to be rejected in January, Bitcoin falls to 36K~38K
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Table of Contents:
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ETF analyst questions Matrixport researcher’s source of information
SEC still meeting with issuers for adjustments
Bitcoin briefly touches 40K
Bitcoin futures long positions liquidated
What did Matrixport say?
Regarding speculation of the “SEC rejecting ETFs,” Eric Balchunas stated that people are tagging him like crazy in this “rejection” report. He said, “We haven’t seen any signs other than approval.” Eric Balchunas also asked if there was any source of information or if it was just speculation. However, at the time of writing, author Markus Thielen had not responded to Eric Balchunas.
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Eric Balchunas said that the author seems to be someone who is bullish on Bitcoin, and he doesn’t know why the author suddenly reversed his stance.
Reporter Eleanor Terrett also mentioned that the SEC is still meeting with several major exchange giants today to discuss the submission documents of these spot ETF issuers.
ChainNews at 18:54 in the evening
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Since this news, there has been a significant drop, with a brief touch of 40750 after 8 pm. At the time of writing, it has converged to 42431.
According to ChainNews at 20:14 in the evening, in a short period of time, the total liquidation amount on all exchanges reached 378 million US dollars, with more than 95% being long positions, and the largest liquidation scale was in Bitcoin contracts, nearly 100 million US dollars.
In fact, Matrixport did not say that Bitcoin spot ETFs will not be approved, but rather that they will not be approved in January and believe that they will be approved in the second quarter of 2024.
In addition, KOL Aylo also believes that there will be a major drop in Q1, but it will not happen when it is approved, but rather when the ETF is officially launched.
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Aylo: Bitcoin will experience a major drop in Q1, not when the ETF is approved
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ETF
Bitcoin
Further reading:
Taiwan Judicial Yuan fan page introduces “Bitcoin” on the anniversary of the Genesis Block, reminding to guard against cryptocurrency scams
Matrixport analyst: Expects all ETFs to be rejected in January, Bitcoin falls to 36K~38K