Bitcoin's Value Plummets as Demand for ETFs Cools

By
Hugo Fernandez
1 min read

Bitcoin experienced a significant drop in value, declining by as much as 5.3% before slightly recovering to $66,920. This plunge was triggered by diminishing demand for dedicated US exchange-traded funds and waning expectations of looser Federal Reserve monetary policy. Additionally, smaller digital assets, like Pepe and dogwifhat, also slumped, resulting in the most significant two-day slide in about two weeks. The trend reflects the overall cooling interest in cryptocurrencies and serves as a bellwether for the market's current dynamics.

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