
Bearish Bitcoin leads to tumble in crypto stocks, with Coinbase taking a hit
JPMorgan downgraded Coinbase shares to underweight because of the current market conditions.
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CryptoSlate analysis found large Bitcoin transactions linked to ETF activity driving up CDD and A2VR.

Multiple firms are looking to launch spot Bitcoin ETFs within the coming months now that Hong Kong has softened its stance toward the industry.

The decline to around $40,000, Bitcoin's lowest level since mid-December of the previous year, has been driven by a sustained sell-off amid a series of macroeconomic and market-specific factors.

High-cost ETF issuers in the United States have reported substantial outflows from their funds since spot BTC ETFs were launched.

Several crypto leaders assert that the lawmaker's statement were part of attempts to vilify the industry.

Observers says only 10% of GBTC outflows are being redirected to the new ETFs.



