Crypto service provider Matrixport, owned by Bitmain co-founder Jihan Wu, published a controversial report today. The firm announced its bullish expectations for Bitcoin just yesterday, but said in a filing today that the SEC may decide to reject the spot Bitcoin ETF request in January.
“It is Very Difficult for Gensler to Give a Confirmation Vote”
The report states that the majority of the ETF’s decision-making or voting members are close to the Democratic Party, making it almost impossible for Gensler to actively vote.
“Most of the top five members of the committee are close to Democrats… These people will be extremely important in ETF decisions.” It is well known that SEC Chairman Gensler dislikes cryptocurrencies. In fact, it is unlikely that he will vote to approve the Bitcoin Spot ETF. ”
As it is known, Democratic anti-cryptocurrency senator Elizabeth Warren also called for the ban of all cryptocurrencies, especially Bitcoin, in the USA. US media outlets criticized Gensler’s closeness to Warren.
Therefore, the Matrixport report states, “There is no political reason for Gensler or other members close to the Democratic Party to agree.”
“Bitcoin May Fall to the 36-38 Thousand Dollar Band”
The report also includes price predictions. Analysts said a rejection by the SEC could cause Bitcoin to quickly drop 20% to $36,000-$38,000.
Published in the Morning, Spread at Noon!
The Matrixport report, published in the morning, was seen on social media at noon. Some investors blamed this report for the decline, but the report had already been published in media around the world hours before Bitcoin’s decline.
Bitcoin fell steeply by more than 10% and fell below $41,000 by 15 GMT.
