Bitcoin and other cryptocurrencies have plunged due to profit-taking and fears of interest rate hikes. Despite this, Grayscale's Bitcoin ETF is expected to reduce fees, and a judge criticized the SEC for its actions against BlockFi. Analysts believe this sell-off may be temporary, supported by long-term holders and the upcoming "halving" event. While the crypto market remains volatile, the underlying technology and institutional adoption suggest long-term potential.
