So why is the stock market dropping today? Well, I'm not too sure if you guys heard the news. it's not even so much about the overall Market but uh Mara uh is down 99.8% after market hours after being down 2.3% yesterday. not just Mara but also Coin Coin is down 7.47% after market I'm sorry pre-market hours and yesterday it was down 9 8% This is the hardest pullback that we've seen on both Mara and Spot I'm sorry Mara and Coinbase. and since they started their rally due to the pending approval of the Spot ETF Now there's a report that came out today, it's it's not guaranteed.

But I think this is what's causing a lot of negative Market sentiment towards the Spot ETF approval of Bitcoin So the SEC chair uh again, ER is not embracing Crypto in the US and might even be a very long shot to expect that he would vote for an approval of Bitcoins Spot ETF So it goes into a little bit more detail, pretty much just reiterating the same thing that an ETF would certainly enable crypto's take uh overall to take off. And based off of Gendler's comment on December 20123, he sees the industry in need of more Stant compliance. So from a political perspective, there is no reason to approve a Bitcoin Spot ETF that would legitimize Bitcoin as an alternative store of value. So all this is saying is you know so many different reasons on why Bitcoin Spot ETF is not going to get approved now.

even myself, right as I was shorting coin because I saw coin to be super overhyped and super overvalued. but I understood that if this spot beat bit coin ETF did get approved. people were talking about coin being able to hit highs of you know 200 plus and I would agree right? because an approval of that would be huge. But the things that people never take into consideration and that's all this video is is First off: I don't even have a short position on coin right now I don't carry my short positions overnight due to the uncontrollable amount of risk.

But one thing I made from the very beginning when it was trading at highs of 187 is you cannot be surprised if it ends up getting rejected. And this is a perfect reason on why. When something is overbought and everyone is just celebrating the approval and no one is talking about the rejection, that the rejection is almost more certain and pullbacks like this should not come as a surprise when anything is seeking approval. we've seen it with FDA approvals.

We've seen it with any type of approval that might send a stock to new highs. and things like this happen all the time at least in my experience. And this is why I always Tred to play Devil's Advocate is because I've been burned so many times that I don't always just seek. you know the the possibility of it getting approved because I know the reality and most of the time they don't.

Now again, I'm not saying that it's not going to get approved. I'm just saying that right now they are listing all the reasons why The Spot: Bitcoin ETF will most likely not get approved based off of this. So this huge pullback that we have recently seen using the little trend line tool from overall highs to current pre-market lows, it's lost 22% of its value now. I haven't made 22% as the 7.5% that it sold off today was not something that I was able to benefit from.

but I've been taking my little piece of pie of that 22% as coin has been selling off. I Want to remind you coin regardless. if you go long, regardless of you go Go Short is a super risky stock. Same thing with Mara because it's all contingent on the spot.

Bitcoin ETF Now if you're an absolute beginner, if you suck at managing risk, if you suck at locking in profits, these are probably stocks that you're going to want to stay away from. But they also can be very rewarding. as you guys have seen the past 3 days have been absolutely insane. Yesterday at a $41,000 day on Friday I had a $60,000 day and the day before that I had a $330,000 day.

Extreme volatility comes with great responsibility and it's just a great reminder, right? I'm not here to try to, um, shove it in anyone's face of like Aha I told you so you know Coin sold off I Don't benefit from that as I don't have an open position. If I was so certain then I would have carried that position right? I Just knew that it was a possibility because I've seen it in the past before and that's all these videos are is when you see someone continuously talk about how high something has to go and you see an entire group talking about how much money everyone is going to make, you always just need to be aware of that downside risk of that pullback potential. and I really hope that this can shed some light in that again, but if it does end up getting approve then that means that coin and Mara might just potentially end up not only recover to highs of 187, but that'll ultimately make new Highs But as of right now Market sentiment is very bearish on this Bitcoin spot ETF according to the pending approval of the SEC So just wanted to shed some light on what was going on and why it was happening and I really hope that it answers your question. So I'm going to be going live with our Lpp team for our live trading session in the next 20 minutes.

I Would love to see you there. So if you want to watch me trade live where you get to see my entries, my exits, but most importantly, you get to hear my thought process behind every trade I Take It's the second link in the description down below. It's not for free. it's a onetime payment lifetime access, but you'll get to watch me live every single day.

And it's designed for complete beginners. So I Hope to see you there if you have any questions before signing up. shoot me a direct message via Discord and that's the first link in the description down below. And don't forget to follow me on! Instagram And that's that fourth Link in the description down below I Appreciate your time and like always, let's make sure that we end the year on our green, not Take Care team.

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