EddieJayonCrypto
13 Jan 24
:The Bitcoin price has dropped below $42,000, reflecting a 7% decline in 24 hours following the approval of spot exchange-traded funds in the United States. Anthony Scaramucci attributes the struggling price to sales of Grayscale Bitcoin Trust shares and the bankruptcy estate of FTX exchange. Howeve...
The Bitcoin price has dropped below $42,000, reflecting a 7% decline in 24 hours following the approval of spot exchange-traded funds in the United States. Anthony Scaramucci attributes the struggling price to sales of Grayscale Bitcoin Trust shares and the bankruptcy estate of FTX exchange. However, Bitcoin's trading volume has surged to its highest level in 15 months since the approval of exchange-traded funds, indicating potential for a price reversal despite current market uncertainty.
The Bitcoin price has been experiencing significant downward pressure< br >since the Securities and Exchange Commission approved the trading of spot exchange-traded funds in the United States. The premier cryptocurrency fell< br >below $42,000 on Friday, January 12, reflecting a decline of 7% in the past 24< br >hours. The underwhelming performance of the Bitcoin price since BTC spot ETFs commenced trading has been a major source of concern for investors and crypto enthusiasts. Anthony Scaramucci, founder of SkyBridge Capital, has weighed in with the possible reasons for the struggling price of the flagship cryptocurrency after such positive development.
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