Table of Contents
In response to the concerns raised by Matrixport Jihan Wu Founder swiftly addressed the situation. The report accurately predicted the rejection of spot Bitcoin ETF applications by the U.S. Securities and Exchange Commission (SEC).
突发的这个事件稍微有些打乱我的度假，睡醒了之后发现Matrixport的分析师报告居然要为市场暴跌负责了。锅重不背。
— Jihan Wu (@JihanWu) January 3, 2024
请大家避免根据X的消息，相信过于简化的传言或概括。
Matrixport的分析师Markus并未在同一天发表相互矛盾的观点。他在周二发布了一种看法，而在周三又提出了相反的看法。…
The market reacted immediately to this forecast, experiencing a notable drop in Bitcoin’s price, briefly dipping below the $41,000 mark on Wednesday. The flash crash was reportedly triggered by the widespread anticipation of the SEC’s unfavorable stance on spot Bitcoin ETFs, as highlighted in Matrixport’s report.
Matrixport Jihan Wu Defends Matrixport Report Amid Market Turbulence
In response to the industry backlash, Matrixport Jihan Wu took to social media (referred to as “X” in the original text) to assert that the Matrixport report was solely grounded in independent research and had not been influenced by the management team.
This clarification comes amidst speculation that the report might be part of a market manipulation scheme, fueled by concerns over the absence of insider sources.
Matrixport Jihan Wu- Titled “Matrixport Analysis: SEC to Reject ETF Applications in January with Final Approval Pushed to Q2 2024,” the report had a substantial impact on the market, sparking significant reactions.
Despite the controversy surrounding its methodology, Matrixport’s analysis stood by its projection of a short-term rejection of spot Bitcoin ETF applications, with the potential for final approval delayed until the second quarter of 2024.
Prompted by doubts about the report’s accuracy, skepticism arose within the industry, prompting influential figures such as Bloomberg analyst Eric Balchunas to seek clarification directly from the author, Markus Thielen.
In response to these inquiries, Thielen emphasized that his report was independent of comments from either the issuer or insiders at the SEC.
Despite acknowledging a deviation from the consensus, he stood firm in his bearish stance, maintaining the likelihood of the SEC’s rejection of spot Bitcoin ETF applications. Thielen’s response aimed to reaffirm the independence and integrity of his research methodology.
Matrixport Jihan Wu- Analysts Dispute Matrixport’s Report Amid SEC Meetings
Amidst the ongoing SEC meetings, analysts such as Balchunas and James Seyffart, leveraging their sources within the SEC, openly disputed the Matrixport report, categorizing it as speculative. Their argument hinges on the perceived contradiction between the report’s predictions of imminent rejection and the SEC’s recent engagements with spot Bitcoin ETF applicants, seen by many as a positive sign for potential approval this month.
The SEC’s active involvement in discussions with the applicants has injected optimism into the industry regarding the likelihood of a spot Bitcoin ETF approval. Despite the regulatory setbacks predicted by the Matrixport report, these ongoing deliberations have introduced a layer of uncertainty into the anticipated outcome.
Meanwhile, Matrixport remains steadfast in its bullish outlook on Bitcoin for 2024. Grounded in historical patterns, the upcoming Bitcoin halving, and prevailing macroeconomic conditions, the firm maintains confidence in a positive trajectory for the cryptocurrency, even in the face of short-term challenges highlighted by its own report.
For any queries and suggestions contact us here.
