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Bitcoin’s Post-ETF Slump Pauses as Charts Signal Pivotal Test
Bitcoin paused a retreat that began after US exchange-traded funds for the largest digital asset began trading on Jan. 11 and now faces a pivotal test if key charts are right. The token rose as much as 2.6% on Wednesday before paring some of the gain to trade at $39,720 as of 6:05 a.m. in London. It’s down almost 20% from an intraday peak of $49,021 when the ETFs went live, as fanfare about the products gives way to uncertainty over the eventual scale of demand for them. The US spot Bitcoin ETF category as a whole has attracted about $1 billion in net inflows so far, compared with the digital asset’s $778 billion ... (full story)