Many decided that this was a hint at the bullish for crypto.
Many crypto-themed accounts, including Crypto Capital Venture founder Dan Gambardello and analyst Will Clemente started asking whether this is about the SEC approving the spot Bitcoin ETF.
“Blink twice if you’re talking about the bitcoin ETF,” another crypto fan commented.
No responses as to what this tweet actually meant were provided by Scaramucci.
This news made the world’s flagship cryptocurrency Bitcoin collapse by nearly 7%, falling loudly from $45,366 to the $42,202 level within just several hours. Traders began liquidating their long positions and wiping $730 million worth of cryptocurrencies from the market. Major altcoins, such as Ethereum, XRP, Solana and others, also began going down in price rapidly. XRP fell the hardest, losing approximately 10% of its price.
Since then, Bitcoin first managed to recover by 5.4%, rising to $44,498. By now, after another 4.25% fall and a 2.81% recovery, digital gold Bitcoin is .
Many within the cryptocurrency community urged holders not to sell their Bitcoin just because of the Matrixport article. Still, experts believe the SEC is likely to green-light spot Bitcoin ETFs in January or in the first quarter anyway, naming March as another likely month for this decision.
Bitcoin ETF approval is expected to bring billions of USD into the crypto space. Another major trigger for a potential Bitcoin price surge is expected to be the fourth BTC halving expected to happen in April.
This article was originally published on U.Today
Source: Cryptocurrency - investing.com
