There was a sharp decline in cryptocurrency markets. Sales deepened in Bitcoin, which started the new year fast and exceeded 45 thousand dollars. With the effect of the decline in BTC, the market turned red, with double-digit declines in almost all crypto assets.

Bitcoin retreated to $ 40,750, down more than 10 percent. BTC stabilized around $ 42,400 with purchases from these levels.

Ethereum fell more than 10 percent to $ 2,100. XRP losses approached 20 percent at one point.

Analysts stated that sales may be for profit purposes. Crypto markets have been positive for a while with expectations that spot Bitcoin ETF applications will be approved.

On the other hand, Matrixport's latest report stated that the SEC may reject all Bitcoin spot ETFs in January. In the report, it was stated that ETF approvals could be delayed to the second quarter and the BTC price could fall to the $ 36-38 thousand band.

Bitcoin saw its highest level since April 6, 2022 with $ 45,355 yesterday.

The SEC needs to make its decision on the ARK and 21 Shares spot Bitcoin ETF proposal by January 10.