After an early positive start to 2024, crypto prices took a turn Wednesday, leaving investors and analysts searching for answers. 

Earlier in the week, bitcoin’s price had seen an upswing, fueled by growing anticipation around the possibility of the US Securities and Exchange Commission approving a bitcoin ETF. However, the mood shifted when bitcoin’s (BTC) value dropped by 8% early Wednesday to around $40,800, falling from its highs of close to $46,000 on Tuesday.

Some have attributed this downturn to a report from Matrixport, a crypto financial services platform. Matrixport’s analysis suggested that the SEC is likely to reject all bitcoin spot ETF applications in January….

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