Close Menu
  • News
    • Bitcoin
    • Altcoins
    • DeFi
    • Market Cap
  • Blockchain
  • Web 3
    • NFT
    • Metaverse
  • Regulation
  • Analysis
  • Learn
  • Blog
  • Contact
    • Tech7685@gmail.com
What's Hot

Trugolf announces a list extension from Nasdaq

2025-06-02

OKX Wallet works together with Sidekick Labs to improve the Web3 accessibility

2025-06-02

Count on Fed’s decision: Is Bitcoin’s $ 100k support on the Brink?

2025-06-02
Facebook X (Twitter) Instagram
  • Contact
  • Terms & Conditions
  • Privacy Policy
  • DMCA
  • Advertise
  • Free.cc (Free Crypto)
Facebook X (Twitter) Instagram
Bitcoin Platform – Bitcoin | Altcoins | Blockchain | News Stories Updated Daily
  • News
    • Bitcoin
    • Altcoins
    • DeFi
    • Market Cap
  • Blockchain

    OKX Wallet works together with Sidekick Labs to improve the Web3 accessibility

    2025-06-02

    Taskon Partners GPT360 to accelerate the expansion of the Web3 community

    2025-06-02

    Goplus Security reveals Goplus-MCP, the first AI-Native Security Layer for Web3

    2025-06-02

    Solana to get the first Kaito-like Mindshare Leaderboard

    2025-06-01

    In and Ecocreds partner to stimulate transparent, blockchain-driven sustainability

    2025-06-01
  • Web 3
    • NFT
    • Metaverse
  • Regulation

    Goldman Sachs Banker sentenced a prison for a role in $ 4,500,000 Ransack or Malaysia’s State Investment Fund: Report

    2025-06-02

    Nobel Prize Economist says: ‘Stablecoins do not serve clearly useful function’; Co-founder of Coinmetrics does not agree

    2025-06-01

    Memecoin investors should not look at the SEC for protection, “says Commissioner Hester Pierce

    2025-06-01

    IMF requires urgent clarification of Pakistan more than 2,000 MW of Power Allowance to Bitcoin -Mybouw

    2025-06-01

    Humans leads $ 3,490,000 from the US government, various companies in bank fraud: Doj

    2025-06-01
  • Analysis

    Tradefi Giant and FTSE-Genotaed IG launches Retail Crypto Trading in the UK with succeeding tomorrow

    2025-06-02

    Trump’s trade war now closer to the endgame while the White House loses lawsuits, according to Tom Lee of Fundstrat

    2025-06-02

    Solana (SOL) keeps falling – is a reversal in sight?

    2025-06-02

    Bitcoin Price Eyes New winnings – Does the next leg be higher?

    2025-06-01

    Bitcoin will explode to new all time High, just like traders are super bearish to btc, according to analyst

    2025-06-01
  • Learn

    What Is Asset Tokenization? How It Works and Why It’s Important

    2025-05-30

    What Is DeFi 2.0 and Why It Matters

    2025-05-27

    Crypto Margin Trading: How It Works and How to Manage the Risks

    2025-05-26

    Wat is circulerende levering in cryptocurrency?

    2025-05-23

    What Is a DEX (Decentralized Exchange)?

    2025-05-21
  • Blog
  • Contact
    • Tech7685@gmail.com
Bitcoin Platform – Bitcoin | Altcoins | Blockchain | News Stories Updated Daily
Home»Bitcoin»Bitcoin suffers a price drop on its way to ETF approval
Bitcoin

Bitcoin suffers a price drop on its way to ETF approval

2024-01-04No Comments3 Mins Read
Share
Facebook Twitter LinkedIn Pinterest Email

  • Bitcoin has recovered slightly from the 4.4% price drop.
  • BTC spot ETF saw additional sign-ups from applicants as news of rejection predictions circulated.

Bitcoins [BTC] The value has recently fallen due to the continued fear, uncertainty and doubt (FUD) surrounding the adoption of the spot ETFs. Altcoins also saw significant liquidations amid falling prices for several assets.

Bitcoin and the crypto market are losing millions of dollars

In a recent update Michael van de Poppe, the founder of MN Trading, said altcoins reached their highest liquidation levels in the past two years. This sell-off coincided with a day when Bitcoin suffered a significant price drop.

According to CoinMarketCapthese declines had a notable impact on the overall crypto market capitalization. At the time of writing, it had fallen about 4.7% to $1.65 trillion.

While there is speculation that these declines were related to reports of upcoming rejections of BTC spot ETF proposals, no concrete evidence supported this claim.

Contrary to such rumors, a recent filing from Fidelity Wise Origin revealed that the approval process for BTC spot ETF was still ongoing.

BTC spot ETF sees new application; approval is yet to come

On January 3, the Fidelity Wise Origin Bitcoin Fund filed with the U.S. Securities and Exchange Commission (SEC). The filing of Form 8-A showed that it intended to register its shares as securities listed on the Cboe BZX Exchange.

While some quarters celebrated this filing as an endorsement, says Bloomberg analyst James Seyffart made clarifications about X (formerly Twitter). He stated that this was a securities registration, and not a confirmation of the approval of BTC spot ETF.

See also  Bitcoin -eyes $ 90k, but Altcoins are waiting for their turn

According to Seyffart, the entire approval process includes the 19b-4 approval and the issuance of the effective, approved or completed S-1 document. However, this has yet to happen.

Notably, a similar filing was filed by Bitwise on December 29, but it received less attention than the recent Fidelity Wise Origin filing.

Correction, no response

AMBCrypto’s analysis of Bitcoin’s funding rate on Mint glass has been on an upward trend since about December 29.

The graph shows that the financing rate rose to approximately 0.03% on December 26 and rose to 0.05% on December 28. There was then a decline, but in the new year the trend gained strength.

On January 2, this amounted to 0.06%, the highest point in recent months. At the same time, Open Interest amounted to over $19 billion.

Bitcoin funding rate

Source: Coinglass

At the last update, the funding rate was around 0.01%, while the open interest remained above $18.5 billion. The current downturn seemed like a correction rather than a reactionary reaction.

Expectations pointed to a possible rebound in the coming days.

Bitcoin is experiencing massive, long-term liquidations

The recent decline in Bitcoin prices has led to significant liquidation of long positions. This was the highest level in recent months, as AMBCrypto noted via Coinglass.

As of January 3, long liquidation volume was over $137 million, while short liquidation volume was approximately $27 million. However, at the time of writing, short liquidations have taken the lead as prices have seen a slight increase.

The liquidation volume for shorts reached approximately $7.8 million, surpassing the long liquidation volume, which was less than $1 million.

Bitcoin liquidations

Source: Coinglass


Read Bitcoin’s [BTC] Price forecast 2024-25

See also  Bitcoin at a Crossroads – Miner Capitulation vs. Signs of Market Stability

Despite rumors swirling about the possible rejection of Bitcoin spot ETF proposals, there remains optimism and a positive outlook regarding their approval.

Some predictions suggest that ETF approval could happen in January, with a more specific time frame between the 8th and 10th of the month.



Source link

Approval Bitcoin Drop ETF Price Suffers
Share. Facebook Twitter Pinterest LinkedIn Tumblr Email

Related Posts

Count on Fed’s decision: Is Bitcoin’s $ 100k support on the Brink?

2025-06-02

Top 3 reasons why XRP -price rally is possible in June 2025

2025-06-02

Bitcoin price risks are broken down to $ 92,000 when it enters the battery phase

2025-06-02

Is Solana’s newest divergence the first sign of a trend shift for the price of Altcoin?

2025-06-02
Add A Comment

Comments are closed.

Top Posts

Sygnum Launches 24/7 Multi-Asset Instant Settlement Network

2024-07-13

Zypher and Zwempartner to authorize scalable decentralized AI agents

2025-04-12

Unleash Warp Messaging for seamless cross-chain action

2024-02-04
Editors Picks

LTC recovery with clear risk on two factors

2023-05-10

Chainstack and POKT form a partnership to drive decentralized Web3 infrastructure

2024-06-02

Bitcoin flagpall pattern places the price for $ 120,000, Analyst explains the route map

2025-02-13

FORTUN3: An animated series erupting on Tech/Crypto Bros

2023-07-21

Our mission is to develop a community of people who try to make financially sound decisions. The website strives to educate individuals in making wise choices about Cryptocurrencies, Defi, NFT, Metaverse and more.

We're social. Connect with us:

Facebook X (Twitter) Instagram Pinterest YouTube
Top Insights

Trugolf announces a list extension from Nasdaq

OKX Wallet works together with Sidekick Labs to improve the Web3 accessibility

Count on Fed’s decision: Is Bitcoin’s $ 100k support on the Brink?

Get Informed

Subscribe to Updates

Get the latest news and Update from Bitcoin Platform about Crypto, Metaverse, NFT and more.

  • Contact
  • Terms & Conditions
  • Privacy Policy
  • DMCA
  • Advertise
  • Free.cc (Free Crypto)
© 2025 Bitcoinplatform.com - All rights reserved.

Type above and press Enter to search. Press Esc to cancel.

  • bitcoinBitcoin(BTC)$103,999.10-0.26%
  • ethereumEthereum(ETH)$2,492.68-0.07%
  • tetherTether USDt(USDT)$1.00-0.01%
  • rippleXRP(XRP)$2.140.11%
  • binancecoinBNB(BNB)$653.670.45%
  • solanaSolana(SOL)$153.480.92%
  • usd-coinUSDC(USDC)$1.00-0.01%
  • dogecoinDogecoin(DOGE)$0.1894990.09%
  • tronTRON(TRX)$0.267352-0.29%
  • cardanoCardano(ADA)$0.670.71%
  • suiSui(SUI)$3.26-0.50%
  • hyperliquidHyperliquid(HYPE)$32.842.60%
  • chainlinkChainlink(LINK)$13.69-1.18%
  • avalanche-2Avalanche(AVAX)$20.41-0.02%
  • stellarStellar(XLM)$0.2645760.22%
  • bitcoin-cashBitcoin Cash(BCH)$400.78-0.05%
  • the-open-networkToncoin(TON)$3.130.39%
  • unus-sed-leoUNUS SED LEO(LEO)$8.35-3.70%
  • shiba-inuShiba Inu(SHIB)$0.000013-0.02%
  • hedera-hashgraphHedera(HBAR)$0.1681791.37%
  • litecoinLitecoin(LTC)$88.151.09%
  • moneroMonero(XMR)$360.8510.15%
  • polkadotPolkadot(DOT)$4.01-0.47%
  • ethena-usdeEthena USDe(USDE)$1.000.00%
  • bitget-tokenBitget Token(BGB)$4.710.73%
  • daiDai(DAI)$1.000.00%
  • pepePepe(PEPE)$0.0000120.56%
  • piPi(PI)$0.640.35%
  • uniswapUniswap(UNI)$6.180.20%
  • aaveAave(AAVE)$243.080.42%
  • bittensorBittensor(TAO)$405.55-2.38%
  • crypto-com-chainCronos(CRO)$0.1043381.44%
  • okbOKB(OKB)$49.48-0.83%
  • aptosAptos(APT)$4.700.01%
  • nearNEAR Protocol(NEAR)$2.40-0.02%
  • ondo-financeOndo(ONDO)$0.820.54%
  • internet-computerInternet Computer(ICP)$4.880.00%
  • ethereum-classicEthereum Classic(ETC)$16.880.47%
  • gatechain-tokenGateToken(GT)$19.21-0.03%
  • mantleMantle(MNT)$0.680.80%
  • kaspaKaspa(KAS)$0.0851891.05%
  • polygon-ecosystem-tokenPOL (prev. MATIC)(POL)$0.2138240.64%
  • official-trumpOFFICIAL TRUMP(TRUMP)$11.09-1.19%
  • usd1World Liberty Financial USD(USD1)$1.000.06%
  • vechainVeChain(VET)$0.0240350.51%
  • render-tokenRender(RENDER)$3.82-0.13%
  • ethenaEthena(ENA)$0.3078060.38%
  • artificial-superintelligence-allianceArtificial Superintelligence Alliance(FET)$0.73-0.58%
  • worldcoin-wldWorldcoin(WLD)$1.120.26%
  • filecoinFilecoin(FIL)$2.540.08%
  • bitcoinBitcoin(BTC)$103,999.10-0.26%
  • ethereumEthereum(ETH)$2,492.68-0.07%
  • tetherTether USDt(USDT)$1.00-0.01%
  • rippleXRP(XRP)$2.140.11%
  • binancecoinBNB(BNB)$653.670.45%
  • solanaSolana(SOL)$153.480.92%
  • usd-coinUSDC(USDC)$1.00-0.01%
  • dogecoinDogecoin(DOGE)$0.1894990.09%
  • tronTRON(TRX)$0.267352-0.29%
  • cardanoCardano(ADA)$0.670.71%
  • suiSui(SUI)$3.26-0.50%
  • hyperliquidHyperliquid(HYPE)$32.842.60%
  • chainlinkChainlink(LINK)$13.69-1.18%
  • avalanche-2Avalanche(AVAX)$20.41-0.02%
  • stellarStellar(XLM)$0.2645760.22%
  • bitcoin-cashBitcoin Cash(BCH)$400.78-0.05%
  • the-open-networkToncoin(TON)$3.130.39%
  • unus-sed-leoUNUS SED LEO(LEO)$8.35-3.70%
  • shiba-inuShiba Inu(SHIB)$0.000013-0.02%
  • hedera-hashgraphHedera(HBAR)$0.1681791.37%
  • litecoinLitecoin(LTC)$88.151.09%
  • moneroMonero(XMR)$360.8510.15%
  • polkadotPolkadot(DOT)$4.01-0.47%
  • ethena-usdeEthena USDe(USDE)$1.000.00%
  • bitget-tokenBitget Token(BGB)$4.710.73%
  • daiDai(DAI)$1.000.00%
  • pepePepe(PEPE)$0.0000120.56%
  • piPi(PI)$0.640.35%
  • uniswapUniswap(UNI)$6.180.20%
  • aaveAave(AAVE)$243.080.42%
  • bittensorBittensor(TAO)$405.55-2.38%
  • crypto-com-chainCronos(CRO)$0.1043381.44%
  • okbOKB(OKB)$49.48-0.83%
  • aptosAptos(APT)$4.700.01%
  • nearNEAR Protocol(NEAR)$2.40-0.02%
  • ondo-financeOndo(ONDO)$0.820.54%
  • internet-computerInternet Computer(ICP)$4.880.00%
  • ethereum-classicEthereum Classic(ETC)$16.880.47%
  • gatechain-tokenGateToken(GT)$19.21-0.03%
  • mantleMantle(MNT)$0.680.80%
  • kaspaKaspa(KAS)$0.0851891.05%
  • polygon-ecosystem-tokenPOL (prev. MATIC)(POL)$0.2138240.64%
  • official-trumpOFFICIAL TRUMP(TRUMP)$11.09-1.19%
  • usd1World Liberty Financial USD(USD1)$1.000.06%
  • vechainVeChain(VET)$0.0240350.51%
  • render-tokenRender(RENDER)$3.82-0.13%
  • ethenaEthena(ENA)$0.3078060.38%
  • artificial-superintelligence-allianceArtificial Superintelligence Alliance(FET)$0.73-0.58%
  • worldcoin-wldWorldcoin(WLD)$1.120.26%
  • filecoinFilecoin(FIL)$2.540.08%