Bitcoin Plummets to $40K, Sending Crypto Market into Panic
TL;DR Summary
The price of Bitcoin, Ethereum, Solana, and XRP crashed following JPMorgan's CEO's warning about the potential for Bitcoin to be "erased." BlackRock's CEO revealed plans for a massive crypto initiative, while Grayscale's Bitcoin Trust (GBTC) saw significant outflows following its conversion into a spot Bitcoin ETF. This, along with a fee war among ETF issuers, has contributed to the market pressure. Despite the volatility, some in the crypto space remain optimistic about increased access for retail investors and institutional adoption.
- Sudden Crypto ETF Crash Panic Sends Bitcoin To $40,000—Hitting The Price Of Ethereum, Solana And XRP Forbes
- Bitcoin Slips Below $41,000 as Sell-Off Continues Decrypt
- Bitcoin Falls Below $40,000 for the First Time Since December Yahoo Finance
- BTC price recovers from $40.3K lows with Bitcoin volatility 'decimated' Cointelegraph
- Bitcoin Slides Below $40K, Now Down Nearly 20% From Post-ETF Euphoria CoinDesk
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