Why did Bitcoin drop? Analysts point to 5 potential reasons

Elon Musk’s SpaceX reportedly selling its Bitcoin (

Bitcoin has recovered slightly since the crash, gaining 1.2% in the last two hours, according to data from TradingView. At the time of publication, Bitcoin is changing hands for $26,619.

Its price seems to have been buoyed by news that the SEC may look to approve an Ethereum Futures ETF product as soon as October.

Deposit risk: What do crypto exchanges really do with your money?