Benzinga

1M
...

Bitcoin Hangover After ETF Party: Were Bulls Blinded By Hype?

The launch of the first spot Bitcoin ETFs in the U.S. yesterday (Jan. 11) was met with much fanfare and record trading volumes. Now, the excitement seems to be giving way to a cooling-off period, with Bitcoin BTC/USD and other major cryptocurrencies experiencing a pullback in price on Friday.

Bitcoin Slides Under $44,000: Bitcoin is trading around $43,370 levels, down by about 6% from its 24-hour high of $49,048. 

Analysts Divided on Outlook: Market commentators are divided on whether this is a temporary correction or a sign of more bearish times ahead. Some, like CNBC host Jim Cramer and Peter Schiff, chief economist and global strategist at Euro Pacific Asset Management, believe the…

Read more on Benzinga

117K Reads