News Insights:
- Bitcoin (BTC) lost over $90 billion in market capitalization as its price tumbled from $45,359 to $41,800 within a frenetic 5-hours on Wednesday, Jan 3, 2024.
- A research report published by US-based Asset Management firm Matrixport highlighted a bearish scenario involving the SEC postponing the ETF approval to Q2 2024.
- The BTC price decline was further accelerated by $165 million LONG Liquidations in the derivatives markets.
Bitcoin (BTC) price plunged by 7% Wednesday morning in the U.S. trading hours, sinking as low as $41,804.95 before making a mild recovery. At the time of writing, BTC is now trading for $43,005.28 according to CoinMarketcap.