Bitcoin took a major hit this week, and the rest of the crypto market followed.

You know that feeling when you roll out of bed in the morning and check your portfolio, just to feel your stomach turn as your eyes scan over a sea of red?

If you own crypto, of course you do! 😁

With Bitcoin taking a nearly 15% nosedive over the last week, Twitter (or 'X') was in an absolute frenzy speculating on what might have sparked the sudden sell-off.

While some claimed it was the result of spot Bitcoin ETF investors jumping ship at the first sign of volatility, others pointed at the recent all-time highs as an obvious milestone for long-time holders to offload a portion of their holdings.

Whatever the case, it's been a rough week for Bitcoin, and, unfortunately, Ethereum doesn't look like it's getting any breaks either.

The SEC has reportedly sent investigative subpoenas to several U.S. companies over the last few weeks, as well as the Switzerland-based Ethereum Foundation itself.

The SEC is already reviewing several applications for Ethereum spot ETFs, but with news of this recent investigation breaking, it’s looking more and more unlikely that we’ll see an Ethereum ETF hit the U.S. any time soon.

Although some thought a Bitcoin ETF would never happen either, so I guess time will tell. 👀