Bitcoin Retreats to One-Month Low as ETF-Led Enthusiasm Wanes
- Largest digital asset is down about 10% since US approved ETFs
- Token is now underperforming stocks since the start of 2024
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Bitcoin slid to the lowest since mid-December as the speculative demand for the token sparked by hype about new exchange-traded funds dissipates, leaving the cryptocurrency in the red since the start of 2024.
The largest digital asset flirted with a drop below $40,000 before trading at $40,843 as of 11:40 a.m. Friday in Singapore, a decline of 4% in the past 24 hours. Smaller tokens like Ether, Solana and Polkadot also struggled.