Bitcoin (BTC) hit two-week lows during the Wall Street open on April 30. BTC/USD lost the $61,000 support as new spot price exchange-traded funds (ETFs) failed to meet expectations.

First-day trading volumes for Hong Kong's new Bitcoin ETFs were well below expectations. New products managed $12.4 million.

Bloomberg Intelligence analyst Eric Balchunas gave a positive impression of the first day's performance. The timing of the Hong Kong launch will add to overall spot ETF flows at a time when U.S. volumes are "slightly negative," Balchunas said.

Market participants have eyed both $60,000 and the floor just below it as where the current BTC price weakness could reverse.

This article does not contain investment advice or recommendations. Every investment and trading move involves risk, and readers should do their own research when making decisions.#Bitcoin#CryptoNews #Blockchain

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