
Unpacking the Bitcoin Plunge: What Caused the 20% Drop After ETF Approvals?
The recent Bitcoin Crash: What happened and what’s next? Introduction The recent approval of several spot Bitcoin exchange-traded funds (ETFs) by the SEC was expected to usher in an era of mainstream adoption and sky-high prices for the flagship Cryptocurrency. Instead, Bitcoin has crashed over 20% from its 2024 high of $49,000 to just under…