• Bitcoin price reacted sharply to the news that the SEC said the Bitcoin ETF application was inadequate.
  • The SEC reportedly returned the filings to BlackRock and Fidelity.
  • However, BTC recovered above $30,000 as more details emerged.

The U.S. Securities and Exchange Commission (SEC) told the Nasdaq and CBOE that the spot buycoin ETFs recently filed by BlackRock, Fidelity and other Wall Street giants were “not clear and comprehensive,” reportedly Friday. Bitcoin plummeted below $30,000 within minutes.

The regulator has reportedly returned the spot ETF’s dossier.

Market reaction to the first trade news Bitcoin fell to $29,790 and Ethereum fell below $1,840, according to The Wall Street Journal.

aThe market crashed within 30 minutes under the influence of the news. BTC fell more than 5% before briefly dipping below $30,000, ETH fell more than 4%, and today’s big gainers BCH and COMP fell more than 10%. In the past hour, he surpassed US$84 million in liquidations across the network, according to Coinglass data.tweeted Blockchain News reporter Colin Wu.

However, Bitcoin has bounced back above $30,000 as BlackRock and other asset managers reportedly only had to resubmit their applications correctly.Crypto analyst Will Clemente I got it:

By Jules

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