After hearing that VanEck had been rejected by the United States Securities and Exchange Commission, the SEC (the Securities and Exchange Commission) was denied the VanEck spot (the VanEck spot), bears stormed in to grab the advantage on Nov. 12.BTCThe application for an exchange-traded funds (ETFs) made waves in the crypto world and affected the bullish momentum which had been growing throughout the week.

Many investors had high expectations that Bitcoin’s price would reach the $100,000 mark with the passing of a spot BTC ETF, but it was denial by other analysts, such as Eric Balchunas (Bloomberg senior ETF analyst), who predicted the SEC. VanEck approval at less that 1%.