The volatility caused by the launch of spot Bitcoin ETFs in the U.S. has wiped over $115 billion off Bitcoin’s market cap. There has been a significant increase in realized losses in the week following the ETF launch, with short-term holders bearing the brunt of these losses. Significant outflows from Grayscale’s GBTC have led to […]
The market is absorbing enormous selling pressure with little movement The market is absorbing enormous selling pressure with little movement
On-chain metrics show that the market managed to absorb extremely high selling pressure in the face of Bitcoin ETF-induced volatility.
4 min read
Updated: Jan. 24, 2024 at 11:19 pm UTC
Cover art/illustration via CryptoSlate. Image includes combined content which may include AI-generated content.
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Bitcoin, a decentralized currency that defies the sway of central banks or administrators, transacts electronically, circumventing intermediaries via a peer-to-peer network.