Bitcoin Has Fallen About 20% Since US Spot ETFs Began Trading – Bloomberg

Bitcoin has fallen over 20% since the Jan. 11 launch of the first exchange-traded funds investing directly in the token as speculators become more cautious about the potential impact of the products.

The digital asset spiked to $49,021 on the day the ETFs from issuers including BlackRock Inc. and Fidelity Investments went live. Bitcoin traded at $38,860 as of 6:20 a.m. Tuesday in New York, a 20.7% drop from that intraday peak.

Source: Bitcoin Has Fallen About 20% Since US Spot ETFs Began Trading – Bloomberg