Active Developers Fall, Tether Acquires $380m of Bitcoin
Jan 18, 2024
Market Update $BTC continues to drift lower, falling 2.6% over the last day to $41.4k. Bitcoin has dropped by up to 15% after peaking the same day as the highly anticipated ETF listing. This decline is partly attributed to withdrawals from Grayscale's Bitcoin Trust and miner selling. The trading volume for spot bitcoin ETFs reached almost $2.2 billion yesterday, a slight increase from Tuesday's $1.8 billion but significantly lower than the $3 billion seen last Friday and the $4.6 billion on the first day of trading. According to Bloomberg ETF analyst Eric Balchunas, BlackRock and Fidelity's E