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.
The crypto market has slumped, with Bitcoin and Ethereum tumbling in value. However, Solana has surprisingly surged.
Despite the downturn, MicroStrategy is raising funds to buy more Bitcoin. US Senators have expressed concerns about crypto ETFs, while the SEC is reviewing spot Ether ETFs.
A UK judge has ruled that Craig Wright is not the creator of Bitcoin. Experts predict Bitcoin's decline is a natural adjustment, while ETFs are driving its adoption.
