Bitcoin Price Crash: CoinShares Reveals The Real Reasons | Headlines | News | CoinMarketCap
08/18/2023 15:20
As the market recovers from Bitcoin’s sudden dip below $25,000, James Butterfill, head of research at CoinShares, has weighed in on the potential …
As the market recovers from Bitcoin’s sudden dip below $25,000, James Butterfill, head of research at CoinShares, has weighed in on the potential underpinnings of this decline. Drawing from a meticulous analysis of market factors, Butterfill’s insights provide a more granular understanding beyond the initial speculations linking the crash to SpaceX’s financial moves.
Butterfill tweeted an astute analysis, offering a multi-faceted perspective: “Our thoughts on what’s behind the recent Bitcoin price crash,” beginning with an emphasis on the market’s recalibrated expectations concerning SEC’s stance on the approval of a spot ETF. He stated that the crash was probably “prompted by the market realizing that the SEC approval of a Bitcoin ETF in the US isn’t imminent.”