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Bitcoin Price Continues to Fall After Halving, Here's the Explanation

Apart from Bitcoin, the price of Ether, the second largest cryptocurrency, also fell 0.1 percent to USD 3,008.75. The Securities and Exchange Commission (SEC) is expected to make a final decision regarding Ether spot ETFs this month.

However, optimism has been tempered for a quick follow-up on Bitcoin ETF approval that sent Bitcoin to an all-time high.

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“Market participants anticipated that the SEC would likely withhold approval for this product, despite approving a BTC ETF in January. Concerns over the liquidity of ETH's spot and futures markets, as well as its past classification as a security by the SEC, contributed to the skepticism surrounding rapid approval,” said Greco.

Bitcoin Price Continues to Fall After Halving, Here's the Explanation

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