“ETF hangover”: Bitcoin showed the worst growth dynamics in a month
Bitcoin showed its worst growth streak in a month since the storm of expectations for the approval of new exchange-traded funds for the largest digital asset died down, Bloomberg writes.
The token is little changed at $42,655 after falling for 3 straight days through Sunday, marking its longest losing streak since mid-December.
The new BTC ETFs began trading on January 11th. Bitcoin briefly peaked above $49,000 after the funds were launched, but then began to retreat.
The reason for BTC's possible fall is that the launch of the first spot ETFs in the US has increased investors' access to the cryptocurrency, after which they will be wary of wider adoption of the token despite a partial recovery in its market last year.
— Bloomberg materials were used in preparation
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