"Bitcoin ETF Uncertainty Triggers Market Volatility and Investor Caution"

Bitcoin's price experienced a 7% drop following a bearish report from Matrixport suggesting that the SEC is likely to reject all Bitcoin Spot ETF applications in January, contrary to some expectations of approval. The market's high leverage and long positions exacerbated the impact, leading to significant liquidations. Despite the report's grim outlook, some analysts, including Vetle Lunde and Bloomberg's Eric Balchunas, disagree with the prediction, citing recent developments that make a denial seem unlikely. The debate continues among analysts on social media platforms.