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Bitcoin Drops to Lowest Level Since Approval of ETFs
Bitcoin fell to the lowest price level since the US approved nearly a dozen exchange-traded funds that hold the cryptocurrency last week. “Now that the ETF hype has faded a bit, it would make sense for traders’ attention to be focused elsewhere,” said Bartosz Lipiński, chief executive officer at Cube.Exchange, a trading platform. “Current options positioning suggests support around $40,000, which is a major psychological price point.” The largest cryptocurrency fell as much as 3% to $41,341, and is down almost 10% following the Jan. 10 sign-off by the US Securities and Exchange Commission. Bitcoin ... (full story)