Two big things have happened in the crypto world this month. Both of them bode poorly for its future.
Browsing: Bitcoin
Bitcoin fell to a seven-week low following the launch of 11 spot bitcoin exchange-traded funds on 11 January.
Bitcoin posted its worst streak in about a month amid ebbing fanfare over new US ETFs.
The US securities regulator has approved the first US-listed ETFs to track bitcoin.
The approval of the first spot-bitcoin ETFs in the US has boosted ether, the second most valuable cryptocurrency.
The regulatory approval of an exchange-traded fund isn’t supposed to be a mass media event worthy of Wrestlemania.
This week will mark the culmination of a yearslong push to launch ETFs backed by bitcoin in the US.
A slump in bitcoin saw the cryptocurrency erase all gains it had made so far this year, bucking a long-running upswing.
Bitcoin rose above $45 000 on Tuesday for the first time since April 2022.
If 2022 was the year that “broke bitcoin”, 2023 has been the year of trauma recovery.