Bitcoin falls to $40,000, lowest level since bitcoin ETF launch

By: Admin
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Jan 22 (Reuters) - Bitcoin fell to a seven-week low on Monday, hovering below $40,000 for the first time since the launch of 11 spot bitcoin exchange-traded funds on Jan. 11.

The world's largest cryptocurrency was last down 3.98% at $39,938.00, trading at its lowest since Dec. 4 after a brief recovery. Ether , the second largest cryptocurrency, was down 6.37% at $2,328.30.

Bitcoin had rallied on growing excitement the U.S. Securities and Exchange Commission (SEC) would approve bitcoin ETFs, opening up the cryptocurrency to a slew of new investors. Bitcoin gained around 70% from August, when a federal court forced the SEC to review its decision to reject Grayscale Investment's bitcoin ETF application.

Jan 22 (Reuters) - Bitcoin fell to a seven-week low on Monday, hovering below $40,000 for the first time since the launch of 11 spot bitcoin exchange-traded funds on Jan. 11.

The world's largest cryptocurrency was last down 3.98% at $39,938.00, trading at its lowest since Dec. 4 after a brief recovery. Ether , the second largest cryptocurrency, was down 6.37% at $2,328.30.

Bitcoin had rallied on growing excitement the U.S. Securities and Exchange Commission (SEC) would approve bitcoin ETFs, opening up the cryptocurrency to a slew of new investors. Bitcoin gained around 70% from August, when a federal court forced the SEC to review its decision to reject Grayscale Investment's bitcoin ETF application.

https://www.reuters.com/technology/bitcoin-falls-seven-week-low-below-40000-2024-01-22/