{"id":569396,"date":"2024-01-13T10:00:47","date_gmt":"2024-01-13T10:00:47","guid":{"rendered":"https:\/\/ktsl888.com\/?p=569396"},"modified":"2024-01-13T09:11:00","modified_gmt":"2024-01-13T09:11:00","slug":"bitcoin-retreats-etf-dream-fades-price-tumbles-under-42000","status":"publish","type":"post","link":"https:\/\/ktsl888.com\/news\/bitcoin-retreats-etf-dream-fades-price-tumbles-under-42000\/","title":{"rendered":"Bitcoin Retreats: ETF Dream Fades, Price Tumbles Under $42,000"},"content":{"rendered":"<p data-sourcepos=\"3:1-3:377\">In a dramatic turn of events, Bitcoin prices plummeted Friday, erasing almost 10% of its value and dashing hopes of a sustained rally fueled by the highly anticipated launch of spot Bitcoin ETFs. The cryptocurrency, which had surged to a two-year high of $49,000 just a day prior, <a href=\"https:\/\/www.bloomberg.com\/news\/articles\/2024-01-12\/bitcoin-extends-decline-with-etf-exuberance-beginning-to-fade\" target=\"_blank\" rel=\"noopener nofollow\">retreated below $42,000<\/a> as investors digested the implications of the new financial instruments.<\/p>\n<h2><strong>Bitcoin&#8217;s Downturn: ETF Impact, Trust Sell-off, FTX Bankruptcy<\/strong><\/h2>\n<p data-sourcepos=\"5:1-5:284\">Analysts point to a confluence of factors behind the sudden downturn. Profit-taking by early adopters who cashed in on the ETF-induced surge is likely one major driver. With the news out of the way, some investors might have seen an opportunity to lock in profits after a rapid climb.<\/p>\n<div class=\"related-reading-shortcode\">Related Reading: <a href=\"https:\/\/ktsl888.com\/news\/lido-ldo-action-heats-up-nearly-90-of-holders-see-profits-on-crypto-climb\/\" target=\"_blank\" rel=\"noopener \">Lido (LDO) Action Heats Up: Nearly 90% Of Holders See Profits On Crypto Climb<\/a><\/div>\n<pre style=\"text-align: center\" data-sourcepos=\"5:1-5:284\"><img data-recalc-dims=\"1\" loading=\"lazy\" decoding=\"async\" class=\"aligncenter size-full wp-image-569397\" src=\"https:\/\/ktsl888.com\/wp-content\/uploads\/2024\/01\/a-78.png?resize=671%2C388\" alt=\"\" width=\"671\" height=\"388\" srcset=\"https:\/\/ktsl888.com\/wp-content\/uploads\/2024\/01\/a-78.png?w=671 671w, https:\/\/ktsl888.com\/wp-content\/uploads\/2024\/01\/a-78.png?w=460 460w\" sizes=\"(max-width: 671px) 100vw, 671px\">BTC hitting $41,730 in the last 24 hours. Source: Coingecko<\/pre>\n<p data-sourcepos=\"7:1-7:384\">Adding to the selling pressure was a wave of selling from Grayscale Bitcoin Trust shares. The long-standing trust, which tracks Bitcoin&#8217;s price but doesn&#8217;t directly hold the cryptocurrency, saw significant outflows as investors shifted towards the newly available ETFs. This switch, while seemingly positive for the <a href=\"https:\/\/www.reuters.com\/technology\/spot-bitcoin-etfs-start-trading-big-boost-crypto-industry-2024-01-11\/\" target=\"_blank\" rel=\"noopener nofollow\">ETF market<\/a>, contributed to the immediate pressure on Bitcoin itself.<\/p>\n<p data-sourcepos=\"9:1-9:305\">Further complicating the picture, the bankruptcy proceedings of FTX, the once-dominant crypto exchange, are also believed to be playing a role. Assets are reportedly being &#8220;unloaded&#8221; amid the increased market activity surrounding the ETF launch, leading to additional downward pressure on Bitcoin&#8217;s price.<\/p>\n<pre style=\"text-align: center\" data-sourcepos=\"9:1-9:305\"><img loading=\"lazy\" decoding=\"async\" class=\"aligncenter size-full\" src=\"https:\/\/www.tradingview.com\/x\/RFiSZVyn\/\" width=\"1274\" height=\"522\">Bitcoin slightly above the $43K level today. Chart: <a href=\"https:\/\/www.tradingview.com\/chart\/ZUMCtHpo\/?symbol=CRYPTOCAP:XRP\" target=\"_blank\" rel=\"noopener nofollow\">TradingView.com<\/a><\/pre>\n<p data-sourcepos=\"11:1-11:394\">Despite the <a href=\"https:\/\/www.coingecko.com\/en\/coins\/bitcoin\" target=\"_blank\" rel=\"noopener nofollow\">significant correction,<\/a> not everyone is singing the blues. Some analysts believe the pullback is a healthy development, allowing the market to adjust after the initial hype surrounding ETFs. Zach Pandl, managing director of research at Grayscale, views the profit-taking as a natural reaction to the recent surge and suggests it shouldn&#8217;t have a long-term impact on Bitcoin&#8217;s price.<\/p>\n<h2 data-sourcepos=\"13:1-13:315\"><strong>Bitcoin ETF Launch: Landmark Moment, Uncertain Future<\/strong><\/h2>\n<p data-sourcepos=\"13:1-13:315\">While the immediate future remains uncertain, the launch of spot Bitcoin ETFs represents a landmark moment for the cryptocurrency industry. With traditional financial tools now available for institutional and retail investors alike, Bitcoin&#8217;s accessibility and potential for wider adoption are undoubtedly enhanced.<\/p>\n<div class=\"related-reading-shortcode\">Related Reading: <a href=\"https:\/\/ktsl888.com\/news\/crypto-ceo-bets-big-perfect-storm-event-to-slingshot-bitcoin-to-1-million\/\" target=\"_blank\" rel=\"noopener \">Crypto CEO Bets Big: \u2018Perfect Storm\u2019 Event To Slingshot Bitcoin To $1 Million<\/a><\/div>\n<p data-sourcepos=\"15:1-15:337\">However, the story doesn&#8217;t end there. The recent volatility serves as a stark reminder of the inherent risks involved in the cryptocurrency market. As the dust settles and the market digests the ETF news, it will be fascinating to see whether this marks a mere correction or a more fundamental shift in the trajectory of Bitcoin&#8217;s price.<\/p>\n<p data-sourcepos=\"17:1-17:233\">One thing is clear: the saga of Bitcoin is far from over. With new players entering the game and established forces facing challenges, the next chapter promises to be just as thrilling, if not more, than the one we&#8217;ve just witnessed.<\/p>\n<p data-sourcepos=\"17:1-17:233\"><em>Featured image from iStock<\/em><\/p>\n","protected":false},"excerpt":{"rendered":"<p>In a dramatic turn of events, Bitcoin prices plummeted Friday, erasing almost 10% of its value and dashing hopes of a sustained rally fueled by the highly anticipated launch of spot Bitcoin ETFs. The cryptocurrency, which had surged to a two-year high of $49,000 just a day prior, retreated below $42,000 as investors digested the implications of the new financial instruments. Bitcoin&#8217;s Downturn: ETF Impact, Trust Sell-off, FTX Bankruptcy Analysts point to a confluence of factors behind the sudden downturn. Profit-taking by early adopters who cashed in on the ETF-induced surge is likely one major driver. With the news out of the way, some investors might have seen an opportunity to lock in profits after a rapid climb. Related Reading: Lido (LDO) Action Heats Up: Nearly 90% Of Holders See Profits On Crypto Climb BTC hitting $41,730 in the last 24 hours. Source: Coingecko Adding to the selling pressure was a wave of selling from Grayscale Bitcoin Trust shares. The long-standing trust, which tracks Bitcoin&#8217;s price but doesn&#8217;t directly hold the cryptocurrency, saw significant outflows as investors shifted towards the newly available ETFs. This switch, while seemingly positive for the ETF market, contributed to the immediate pressure on Bitcoin itself. Further complicating the picture, the bankruptcy proceedings of FTX, the once-dominant crypto exchange, are also believed to be playing a role. Assets are reportedly being &#8220;unloaded&#8221; amid the increased market activity surrounding the ETF launch, leading to additional downward pressure on Bitcoin&#8217;s price. Bitcoin slightly above the $43K level today. Chart: TradingView.com Despite the significant correction, not everyone is singing the blues. Some analysts believe the pullback is a healthy development, allowing the market to adjust after the initial hype surrounding ETFs. Zach Pandl, managing director of research at Grayscale, views the profit-taking as a natural reaction to the recent surge and suggests it shouldn&#8217;t have a long-term impact on Bitcoin&#8217;s price. Bitcoin ETF Launch: Landmark Moment, Uncertain Future While the immediate future remains uncertain, the launch of spot Bitcoin ETFs represents a landmark moment for the cryptocurrency industry. With traditional financial tools now available for institutional and retail investors alike, Bitcoin&#8217;s accessibility and potential for wider adoption are undoubtedly enhanced. Related Reading: Crypto CEO Bets Big: \u2018Perfect Storm\u2019 Event To Slingshot Bitcoin To $1 Million However, the story doesn&#8217;t end there. The recent volatility serves as a stark reminder of the inherent risks involved in the cryptocurrency market. As the dust settles and the market digests the ETF news, it will be fascinating to see whether this marks a mere correction or a more fundamental shift in the trajectory of Bitcoin&#8217;s price. One thing is clear: the saga of Bitcoin is far from over. With new players entering the game and established forces facing challenges, the next chapter promises to be just as thrilling, if not more, than the one we&#8217;ve just witnessed. Featured image from iStock<\/p>\n","protected":false},"author":557,"featured_media":569400,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[5651,3],"tags":[428,532,679,1119,6664],"class_list":["post-569396","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-bitcoin","category-news","tag-bitcoin","tag-bitcoin-etf","tag-bitcoin-price","tag-btc","tag-crypto"],"acf":[],"yoast_head":"\n<title>Bitcoin Retreats: ETF Dream Fades, Price Tumbles Under $42,000<\/title>\n<meta name=\"description\" content=\"In a dramatic turn of events, Bitcoin prices plummeted Friday, erasing almost 10% of its value and dashing hopes of a sustained rally fueled by the highly\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link 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He finally settled down at a local news giant in his hometown in the Philippines for a decade, becoming a total news junkie. But then, something new caught his eye: cryptocurrency. It was like a treasure hunt mixed with storytelling - right up his alley! So, he landed a killer gig at NewsBTC, where he's one of the go-to guys for all things crypto. He breaks down this confusing stuff into bite-sized pieces, making it easy for anyone to understand (he salutes his management team for teaching him this skill). Think Christian's all work and no play? Not a chance! When he's not at his computer, you'll find him indulging his passion for motorbikes. A true gearhead, Christian loves tinkering with his bike and savoring the joy of the open road on his 320-cc Yamaha R3. Once a speed demon who hit 120mph (a feat he vowed never to repeat), he now prefers leisurely rides along the coast, enjoying the wind in his thinning hair. 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But for Christian, that's not just a metaphor, it's a lifestyle. By day, he navigates the ever-shifting tides of the cryptocurrency market, wielding words like a seasoned editor and crafting articles that decipher the jargon for the masses. When the PC goes on hibernate mode, however, his pursuits take a more mechanical (and sometimes philosophical) turn. Christian's journey with the written word began long before the age of Bitcoin. In the hallowed halls of academia, he honed his craft as a feature writer for his college paper. This early love for storytelling paved the way for a successful stint as an editor at a data engineering firm, where his first-month essay win funded a months-long supply of doggie and kitty treats \u2013 a testament to his dedication to his furry companions (more on that later). Christian then roamed the world of journalism, working at newspapers in Canada and even South Korea. He finally settled down at a local news giant in his hometown in the Philippines for a decade, becoming a total news junkie. But then, something new caught his eye: cryptocurrency. It was like a treasure hunt mixed with storytelling - right up his alley! So, he landed a killer gig at NewsBTC, where he's one of the go-to guys for all things crypto. He breaks down this confusing stuff into bite-sized pieces, making it easy for anyone to understand (he salutes his management team for teaching him this skill). Think Christian's all work and no play? Not a chance! When he's not at his computer, you'll find him indulging his passion for motorbikes. A true gearhead, Christian loves tinkering with his bike and savoring the joy of the open road on his 320-cc Yamaha R3. Once a speed demon who hit 120mph (a feat he vowed never to repeat), he now prefers leisurely rides along the coast, enjoying the wind in his thinning hair. Speaking of chill, Christian's got a crew of furry friends waiting for him at home. Two cats and a dog. He swears cats are way smarter than dogs (sorry, Grizzly), but he adores them all anyway. Apparently, watching his pets just chillin\u2019 helps him analyze and write meticulously formatted articles even better. Here's the thing about this guy: He works a lot, but he keeps himself fueled by enough coffee to make it through the day - and some seriously delicious (Filipino) food. He says a delectable meal is the secret ingredient to a killer article. And after a long day of crypto crusading, he unwinds with some rum (mixed with milk) while watching slapstick movies. Looking ahead, Christian sees a bright future with NewsBTC. He says he sees himself privileged to be part of an awesome organization, sharing his expertise and passion with a community he values, and fellow editors - and bosses - he deeply respects. So, the next time you tread into the world of cryptocurrency, remember the man behind the words \u2013 the crypto crusader, the grease monkey, and the feline philosopher, all rolled into one.","sameAs":["jomarjet01"],"url":"https:\/\/ktsl888.com\/author\/jomarjet01\/"}]}},"parsely":{"version":"1.1.0","meta":{"@context":"https:\/\/schema.org","@type":"NewsArticle","headline":"Bitcoin Retreats: ETF Dream Fades, Price Tumbles Under $42,000","url":"http:\/\/ktsl888.com\/news\/bitcoin-retreats-etf-dream-fades-price-tumbles-under-42000\/","mainEntityOfPage":{"@type":"WebPage","@id":"http:\/\/ktsl888.com\/news\/bitcoin-retreats-etf-dream-fades-price-tumbles-under-42000\/"},"thumbnailUrl":"https:\/\/ktsl888.com\/wp-content\/uploads\/2024\/01\/a-79.png?resize=200%2C200","image":{"@type":"ImageObject","url":"https:\/\/ktsl888.com\/wp-content\/uploads\/2024\/01\/a-79.png?fit=300%2C230"},"articleSection":"Bitcoin","author":[{"@type":"Person","name":"Christian Encila"}],"creator":["Christian Encila"],"publisher":{"@type":"Organization","name":"NewsBTC","logo":"https:\/\/ktsl888.com\/wp-content\/uploads\/2020\/06\/cropped-cropped-cropped-favicon.png?w=32"},"keywords":["bitcoin","bitcoin etf","bitcoin price","btc","crypto"],"dateCreated":"2024-01-13T10:00:47Z","datePublished":"2024-01-13T10:00:47Z","dateModified":"2024-01-13T10:00:47Z"},"rendered":"<script type=\"application\/ld+json\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@type\":\"NewsArticle\",\"headline\":\"Bitcoin Retreats: ETF Dream Fades, Price Tumbles Under $42,000\",\"url\":\"http:\\\/\\\/ktsl888.com\\\/news\\\/bitcoin-retreats-etf-dream-fades-price-tumbles-under-42000\\\/\",\"mainEntityOfPage\":{\"@type\":\"WebPage\",\"@id\":\"http:\\\/\\\/ktsl888.com\\\/news\\\/bitcoin-retreats-etf-dream-fades-price-tumbles-under-42000\\\/\"},\"thumbnailUrl\":\"https:\\\/\\\/ktsl888.com\\\/wp-content\\\/uploads\\\/2024\\\/01\\\/a-79.png?resize=200%2C200\",\"image\":{\"@type\":\"ImageObject\",\"url\":\"https:\\\/\\\/ktsl888.com\\\/wp-content\\\/uploads\\\/2024\\\/01\\\/a-79.png?fit=300%2C230\"},\"articleSection\":\"Bitcoin\",\"author\":[{\"@type\":\"Person\",\"name\":\"Christian Encila\"}],\"creator\":[\"Christian Encila\"],\"publisher\":{\"@type\":\"Organization\",\"name\":\"NewsBTC\",\"logo\":\"https:\\\/\\\/ktsl888.com\\\/wp-content\\\/uploads\\\/2020\\\/06\\\/cropped-cropped-cropped-favicon.png?w=32\"},\"keywords\":[\"bitcoin\",\"bitcoin etf\",\"bitcoin price\",\"btc\",\"crypto\"],\"dateCreated\":\"2024-01-13T10:00:47Z\",\"datePublished\":\"2024-01-13T10:00:47Z\",\"dateModified\":\"2024-01-13T10:00:47Z\"}<\/script>","tracker_url":"https:\/\/cdn.parsely.com\/keys\/ktsl888.com\/p.js"},"jetpack_sharing_enabled":true,"jetpack_featured_media_url":"https:\/\/ktsl888.com\/wp-content\/uploads\/2024\/01\/a-79.png?fit=300%2C230","amp_enabled":true,"_links":{"self":[{"href":"https:\/\/ktsl888.com\/wp-json\/wp\/v2\/posts\/569396"}],"collection":[{"href":"https:\/\/ktsl888.com\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/ktsl888.com\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/ktsl888.com\/wp-json\/wp\/v2\/users\/557"}],"replies":[{"embeddable":true,"href":"https:\/\/ktsl888.com\/wp-json\/wp\/v2\/comments?post=569396"}],"version-history":[{"count":0,"href":"https:\/\/ktsl888.com\/wp-json\/wp\/v2\/posts\/569396\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/ktsl888.com\/wp-json\/wp\/v2\/media\/569400"}],"wp:attachment":[{"href":"https:\/\/ktsl888.com\/wp-json\/wp\/v2\/media?parent=569396"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/ktsl888.com\/wp-json\/wp\/v2\/categories?post=569396"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/ktsl888.com\/wp-json\/wp\/v2\/tags?post=569396"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}