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ETFs Fueling Fire of Bitcoin Rally
Tuesday was an action-packed day for bitcoin. The largest digital currency by market capitalization ascended to a new all-time high. It extended its 2024 gain to over 63%. And then it almost immediately succumbed to a breathtaking decline of 14%. Some of those losses were recouped, and while it is clear that the crypto’s volatility is creeping higher as the digital currency does the same, the bullish trend remains intact. Some of that is attributable to the spot bitcoin exchange traded funds that debuted last month. Broadly speaking, those products are proving to be hits among market participants and acting as new, ... (full story)