Bitcoin had been trending over $31,000 for the better part of Friday after reclaiming this support level from the bears. However, this did not last long as the digital asset saw a flash crash that sent its price spiraling toward the $29,000 level. SEC Says ETF Filings Are Inadequate On Friday, the Wall Street Journal released a report that negatively impacted the market. The report revealed that the United States Securities and Exchange Commission thought that the recent barrage of Bitcoin ETH filings that it had received was inadequate in their filings. Related Reading: Litecoin Bull Case Grows Stronger As Hashrate Touches New All Time-High This follows a two-week stretch of positivity after heavy hitters such as BlackRock, WisdomTree, and Fidelity, among others, filed requests for Bitcoin Spot ETFs with the SEC. Following the news of the filings, the price of Bitcoin rallied tremendously, crossing $31,000 for the first time in over one month. However, with the news of the SEC saying that the filings are inadequate, it has quickly eroded investor sentiment. The price of BTC fell ..
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