CryptMarket Analysis — 23-09-12
Crypto markets faced significant turbulence this morning, with a sudden $200 billion sell-off sparking fresh fears of a Bitcoin price crash. The recent SEC approval of major rule changes has opened the 'crypto ETF floodgates,' encouraging a wave of new crypto products but also triggering volatility as leveraged positions unwound across exchanges. Altcoins mirrored Bitcoin's decline, with major tokens tumbling over 10% and more than $1.5 billion liquidated in derivatives. Despite the regulatory progress, short-term sentiment is heavily risk-off, with traders wary of further downside and profit rotation into traditional safe havens, as gold rallies to fresh highs. The market reaction underscores ongoing fragility and the outsized impact of regulatory milestones on price dynamics.