(BTC) has been on an impressive price run since the announcement of the United States Securities and Exchange Commission’s approval of ProShares’ Bitcoin futures exchange-traded fund (ETF) early in October, hitting a new all-time high of over $69,000 on Nov. 10, as per DataTradingView.

But, financial watchdogs have made the situation worse. rejecting VanEck’s proposalSpot ETFs were created on November 12, and this was a trigger that caused the price of the flagship cryptocurrency’s to plummet to $55,705 (on Nov. 19). As of this writing, the price for the token was in the $56,000-range.