Suddenly Big Dumps Happen In Crypto Market || What's Going On?

Assalamu Alaikum friends,
Cryptocurrencies will play a major role in ruling the world in the future. And Bitcoin is meant as the mother coin of cryptocurrency. Bitcoin's halving will take place in April 2024 and the crypto market has created a buying spree around the halving. Bitcoin has suddenly dumped today after pumping quite a lot for the last two days. In this blog we will try to find out the reason for dumping. So let's get started without delay:-

A sudden dump appeared in the crypto market today. Bitcoin lost nearly $5,000 in value as a result of this dump. Everything was fine in the crypto market till before 6 pm Bangladesh time. But Bitcoin dropped from $45350+ to $40,000 thousand in a matter of minutes. Due to this dump of Bitcoin panic started working among people. And because of this panic, traders started selling alt coins. The alt market also saw a major crash when traders started selling alt coins.

While bitcoins dump 10%+, alt coins dump around 20%. Which has a major impact on the total market capitalization of the crypto market. A lot of dollars come out of the market cap.

What causes this dump?
After finding out the reason for this dump on Twitter and online, I found out that according to Matrixport Analyst's report, the SEC will reject all Bitcoin ETFs in the coming January. After the release of this news, a big dump started coming in the market. And all the big whales spread this news pretty big.

My personal opinion:-
I have some personal opinions behind this dump. Bitcoin halving is not much time left. And we are at the beginning of a bull market. Many whales may not have filled their bags to their heart's content, so they filled their bags by manipulating the market by spreading fake ETF news and making big dumps. An example of which I can point out is recovering a dump very quickly.