-
Bitcoin losses accelerate following ETF launch, while ether heads for an 18% gain on week
Bitcoin slid on Friday to end what should have been a momentous week for the cryptocurrency, with the launch of 11 bitcoin ETFs in the U.S. after a years long battle for institutional acceptance of the asset. The price of bitcoin dropped nearly 6% to $44,022.22, according to Coin Metrics, pulling most of the crypto market into the red, with some notable exceptions. On Thursday, it briefly surged to $49,058.48, its highest level since December 2021. It wavered over the flat line for the week. Meanwhile, ether rose about 2%, extending gains from earlier in the week when it rose to highs not seen since May 2022 as ... (full story)