Hassan Maishera
TL;DR
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Bitcoin is down 3% in the last 24 hours and is trading below $68k per coin.
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The broader crypto market is experiencing a selloff after BTC hit $71k earlier this week.
BTC Dips Below $68k Amid Spot Ether ETF News
Bitcoin, the world’s largest digital asset by market cap, has been underperforming over the last two days. It has now lost more than 3% of its value in the last 24 hours and is trading at around $67,400 per coin.
The poor performance comes as the broader crypto market continues to experience a selloff. BTC hit a monthly high of $71k earlier this week, with many expecting it to rally higher and reach a new all-time high.
However, it has since underperformed and has lost more than 5% of its value over the last two days. The poor performance comes despite the positive news regarding spot Ether ETFs.
On Thursday, the US Securities and Exchange Commission approved the exchange listings of spot Ether exchange-traded funds (ETFs), indicating that the products might begin trading later this year.
Ether, the second-largest cryptocurrency by market cap, is also underperforming despite the positive news on spot Ether ETFs. ETH has lost 1% of its value in the last 24 hours but continues to trade above $3,700 per coin.
SOL is the worst performer amongst the top 10 cryptocurrencies by market cap, losing 5% of its value. At press time, Solana’s native coin is trading at $166 per coin. The total cryptocurrency market cap continues to dip and now stands at $2.51 trillion, down by 2.5% so far today.
