At the time of writing, Bitcoin is trading at $42,717, down 7.15% in the last 24 hours.
If the price manages to go below $41,940 then it will likely decline further to test $36,800.
Bitcoin is still under severe selling pressure after the approval of the Bitcoin ETF. Over the last several hours, the price of Bitcoin has fallen by 8%.
Since the U.S. SEC authorized eleven spot Bitcoin ETFs on January 10, the price of Bitcoin (BTC) has been falling, which has surprised many in the market. A recent pullback by the biggest crypto to $41,900 today caused $338 million worth of positions to be liquidated.
Bears in Control
In an interview with Bloomberg, Anthony Scaramucci, CEO of SkyBridge Capital and a well-known fund manager, discussed the recent drop in Bitcoin prices. According to Scaramucci, sales from the liquidation of assets by Grayscale Investments’ spot Bitcoin ETF GBTC and the insolvent FTX exchange contributed to the current decline.
At the time of writing, Bitcoin is trading at
We współpracy z: https://thenewscrypto.com/bitcoin-faces-severe-selling-pressure-as-downtrend-intensifies/
