Bitcoin slips below $43,200 ahead of decision on BTC ETF; altcoins tumble up to 12%

The cryptocurrency markets were trading in the deep red today amid reports that the SEC may reject the spot Bitcoin ETF application. Amid this backdrop, a major correction affected Bitcoin, Ether, and various altcoins. Crypto investment services provider Matrixport expects the US SEC to reject all applications to list a spot Bitcoin ETF this month. Altcoins, such as Polygon, Dogecoin, Avalanche, and Cardano, declined 8-12%. XRP, Solana, Shiba Inu, Litecoin, and Toncoin also plunged. The total volume in DeFi is currently $11.28 billion, 9.53% of the total crypto market 24-hour volume. The volume of all stablecoins is now $104.77 billion, which is 88.48% of the total crypto market 24-hour volume.

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