Cryptocurrency Market Plunges Amid Concerns Over Spot Bitcoin ETF Approval
Major cryptocurrencies took a nosedive on Wednesday evening amid concerns about the possible approval of a spot Bitcoin ETF. Bitcoin, Ethereum, and Dogecoin all experienced losses in the past 24 hours, with over $600 million worth of cryptocurrency longs liquidated. This market downturn came after a report by digital asset firm Matrixport predicted that the Securities and Exchange Commission (SEC) would reject all spot bitcoin ETF applications.
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