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Bitcoin Price: Should You Buy The Dip Or Prepare For $56,000 Pre BTC Halving?
Bitcoin price slides back to the drawing board as Hong Kong BTC ETF approval fails to sustain Monday’s breakout above $66,000.
After a brief jump from weekend lows, Bitcoin price topped $66,830 on Monday. This move was mainly attributed to the new spot ETF approvals in Hong Kong.
Greenlighting the ETF in Asia’s financial hub has been viewed as a confirmation for other jurisdictions to deliberately consider a similar direction — eventually driving demand for BTC to unprecedented levels.
However, the impact of Hong Kong’s listed ETFs did not last long, with Bitcoin resuming its weekend losing streak in early Asia business hours on Tuesday. The bellwether cryptocurrency clawed back the accrued gains, sweeping through non-existent liquidity at $61,650.
A 5.5% correction in the last 24 hours places Bitcoin price at $62,615. The coin boasts a 5.5% increase in trading volume to $45 billion while its market cap at $1.2 trillion mirrors the selling pressure with a 5.24% dip, CoinMarketCap data shows.
