Crypto’s Retail Era Rattled With ETFs Facing $89,600 Pain Point

The do-it-yourself traders who embraced Bitcoin ETFs as crypto moved into the mainstream are getting a taste of the digital-asset hype cycle.

After billions poured into the easy-to-access exchange-traded funds this year, helping push Bitcoin to a record high, the token is suddenly down more than 20% from its recent peak. While most ETF buyers are still in the green, the margin for error is narrowing fast.