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Bitcoin and other cryptocurrencies fell on Friday as the sector remains focused on the potential approval of exchange-traded funds tied to bitcoin spot trading.
Bitcoin fell 1.5% to $43,450 in the past 24 hours. After a brief breakout above $45,000, the largest cryptocurrency now appears to have settled back into the $42,000-$44,000 trading range it has occupied since early December.
Speculation…
Bitcoin and other cryptocurrencies fell on Friday as the sector remains focused on the potential approval of exchange-traded funds tied to bitcoin spot trading.
Bitcoin
It fell 1.5% to $43,450 in the past 24 hours. After a brief breakout above $45,000, the largest cryptocurrency now appears to have settled back into the $42,000-$44,000 trading range it has occupied since early December.
Speculation about Bitcoin ETF approval increased after that The SEC will approve more than one spot Bitcoin ETF, TechCrunch reporter Jacqueline Melinek reported Thursday. Mellinek cited sources close to the matter in a post on the social media platform X.
The SEC has a January 10 deadline to determine whether it will approve the spot Bitcoin ETF application submitted by ARK Invest and 21Shares but may also choose to approve multiple applications at the same time.
“Numerous meetings between the SEC, issuers and exchanges have fueled the narrative about the impending approval. The introduction of ETFs could lead to the emergence of new groups of investors from traditional finance, significantly improving Market transparency and liquidity and brings long-term capital flows to the digital asset market.
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Beyond Bitcoin,
Ethereum
– The second largest cryptocurrency – fell 2.7% to $2,222. Among the smaller cryptocurrencies,
Solana
However, it fell by 6.2%
Cardano
It was off 7.5%.
Dogecoin
Decreased by 2.8%.
Write to Adam Clark at [email protected]
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