Summary
Bitcoin’s price dropped by 6% on Friday after the first spot Bitcoin ETFs began trading in the US. The cryptocurrency had reached nearly $49,000 on Thursday but fell sharply overnight. Over $90 million worth of Bitcoin positions were liquidated in the last 24 hours. In contrast, Ethereum has been rising this week as investors anticipate the launch of spot Ethereum ETFs in the US. Ethereum is up nearly 19% this week and reached nearly $2,700 on Friday.
Key Points
1. Bitcoin price dropped by 6% on Friday, following the trading of the first spot Bitcoin ETFs in the United States.
2. Over $90 million worth of Bitcoin positions were liquidated in the last 24 hours, with a significant amount being long positions.
3. Ethereum, on the other hand, experienced a rise in value and is up nearly 19% this week, with the anticipation of spot Ethereum ETFs in the United States.