Bitcoin's Volatility: From ETF Approval to $40K Options Expiry

Bitcoin has dropped nearly 20% following the debut of new U.S. exchange-traded funds investing in the cryptocurrency, but some analysts still anticipate a potential all-time high by year-end. The pullback is attributed to profit-taking, unwinding of positions in the Grayscale Bitcoin Trust, and recent dollar strength. While some experts remain optimistic due to the potential capital inflows from Bitcoin ETFs and an upcoming halving event, others are cautious about macroeconomic risks and foresee potential sell-offs until positive developments, such as a Federal Reserve rate cut, occur.