As the price of Bitcoin continues to stay below the key psychological threshold of $100,000, firms across the crypto industry — from public Bitcoin miners to crypto exchanges like Coinbase — are experiencing increased volatility.
Bitcoin’s decline deepened during Asian trading hours, with the cryptocurrency dropping below $80,000 for the first time in three months.
The rout in Bitcoin worsened during Asian trading hours on Friday, sending the cryptocurrency down more than a quarter from the all-time high it set less than six weeks ago as traders dramatically reversed bets that followed the election of US President Donald Trump.
Strategy’s Michael Saylor met with SEC Crypto Task Force
The price of bitcoin, the original and most popular cryptocurrency, dropped below $88,000 or more than 7% Tuesday, its lowest level since November.
The funds based on Bitcoin’s spot price have been shedding assets as markets shy away from crypto and other risk-on investments.
Financial Services titan JPMorgan Chase is holding over $1 million worth of shares in Bitcoin (BTC) and Ethereum (ETH) exchange-traded funds (ETFs).
Bitcoin, the world’s most popular cryptocurrency, was trading at about $89,000 as the U.S. stock market opened. That’s down from about $106,000, which was the price around Trump’s inauguration. The decline in bitcoin and other crypto assets accelerated after a report showed a bigger-than-expected drop in consumer confidence for this month.
JPMorgan Chase, one of the largest financial institutions in the world, has significantly increased its exposure to Bitcoin (BTC) and Ethereum (ETH) exchange-traded funds (ETFs), according to its latest 13F filing with the U.S. Securities and Exchange Commission (SEC).
Bitcoin ( BTC -8.23%) has been the biggest headline maker, falling 8.2% over the past 24 hours as of 11:45 a.m. ET. Ethereum ( ETH -9.86%) is down 9.2% over that time, and Dogecoin ( DOGE -10.11%) is off 9.1%. The decline seems to have slowed, but it's not clear if there will be a recovery in trading today.
Bitcoin, Ethereum, and other top cryptocurrencies are holding onto their recent losses, while Aptos surged following an ETF filing.
The financial services giant Franklin Templeton has launched a mixed Bitcoin (BTC) and Ethereum (ETH) spot exchange-traded fund (ETF).
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