"Bitcoin Volatility Continues with ETF Speculation and $500M Liquidation Impact"
TL;DR
Bitcoin's price fell by 5.5%, erasing its gains from the new year, amidst a broader market downturn and increased risk aversion. The drop coincides with the Nasdaq's worst day since October and a warning from Richmond Federal Reserve President Thomas Barkin that interest rate hikes are still possible. Investors are also concerned about the potential delay in the approval of a spot bitcoin ETF, which has led to short-term traders unwinding their positions. Despite the recent decline, bitcoin had finished 2023 with a significant gain of 157%.
Topics:businessfinance-and-cryptocurrency##bitcoin#cryptocurrency#etf#finance-and-cryptocurrency#interestrates#marketvolatility
- Bitcoin drops 6%, giving back all of its new year gains as traders stay on ETF watch CNBC
- Bitcoin Slumps as $400M Liquidated in Two Hours CoinDesk
- Bitcoin ETF denial report did not cause 8% BTC price crash — Analysis Cointelegraph
- Unpacking the Rapid $500 Million Crypto Liquidation Event BeInCrypto
- Why Bitcoin’s Price Is Going Down—and Why the Rally Is ‘Solid.’ Barron's
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