Bitcoin Plunges to Low

(Updated - January 3, 2024 7:27 AM EST)

Bitcoin Plunges to Low, Down 8.7% at $41,300

Update:

• The reason for the sharp decline wasn't clear. It could be tied to hedging in case of a negative SEC decision regarding approval of a spot Bitcoin ETF.
• The SEC is expecting to approve a batch of spot ETFs by Jan. 10.
• There is some concern that even if the ETFs are approved, the decision by the SEC could still be a "sell the news" event.
• Earlier Microstrategy, Inc. (NASDAQ: MSTR) co-founder and executive Chairman, Michael Saylor, disclosed the sale of 315,000 common shares worth approximately $216 million.
• Bitcoin hit a low of $40,968 but has since recovered to $42,000

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