Cryptocurrencies
Bitcoin Drops to Lowest Level Since Approval of ETFs
- Cryptocurrency has dropped about 11% following ETF sign-off
- BlackRock, Fidelity ETFs are drawing the most demand
This article is for subscribers only.
Bitcoin fell to the lowest price level since the US approved nearly a dozen exchange-traded funds that hold the cryptocurrency last week.
“Now that the ETF hype has faded a bit, it would make sense for traders’ attention to be focused elsewhere,” said Bartosz Lipiński, chief executive officer at Cube.Exchange, a trading platform. “Current options positioning suggests support around $40,000, which is a major psychological price point.”