Crypto Crash: Bitcoin Dives to $29,500, Altcoins Follow Suit Amid ETF Turmoil

The King of cryptocurrencies plunged abruptly to $29,500 just a few minutes ago, triggering a faster sell-off among altcoins. The altcoins, already struggling to recover, have now turned downwards following BTC’s decline. What was the reason for this drop? What pushed the price from $31,000 to $29,500 in just a few minutes? Why Are Cryptocurrencies Falling? According to a report from The Wall Street Journal, the U.S. Securities and Exchange Commission stated that the recent applications to Nasdaq and Cboe for spot Bitcoin ETF funds were not “clear and comprehensive.” The WSJ reported that the applications were returned for insufficient information on their supervision regulations. It is known that sources like WSJ and Bloomberg often release significant news in advance. Indeed, we have seen similar cases with ETF applications. If these claims are confirmed by the SEC, we may see a short-term negative trend for the king cryptocurrency. However, swift […] The post Crypto Crash: Bitcoin Dives to $29,500, Altcoins Follow Suit Amid ETF Turmoil appeared first on COINTURK NEWS.