The price of Bitcoin dropped below $40,000 for the first time since early December 2023.
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The Bitcoin rate fell below $40 thousand for the first time since the beginning of December 2023, follows from the site data Coindesk. As of 3:54 Moscow time, the cost of one bitcoin is $39,821.
On January 11, the Bitcoin rate rose to $49 thousand, updating a two-year high, and most of the day remained above $46 thousand. The growth occurred against the backdrop of the launch of exchange trading in the first American spot ETFs for Bitcoin (BTC).
A spot fund involves physical ownership of Bitcoin. Their quotes track the price of BTC, inviting a wide range of investors to participate in the movement of its spot market rate. Previously, similar funds, such as the Grayscale Bitcoin Trust, were presented on the over-the-counter market, but they were available to a limited number of investors.
The launch of the first ETFs directly affected the performance of the entire crypto market. According to Coinmarkecap.com, its capitalization reached $1.84 trillion, the highest since June 2022. Already against the backdrop of the approval of fund rules by the US Securities and Exchange Commission on January 10, the bitcoin rate reached $47.7 thousand.
Read more in the Kommersant article. “Bitcoin entered American exchanges”.
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