Crypto Shares Fell in Morning Trading, With Coinbase Dropping over 5%

Tiger Newspress01-23

Crypto shares fell in morning trading.

MicroStrategy, Marathon Digital, Riot Blockchain fell over 6%; Coinbase, Canaan fell over 5%; Bit Digital fell over 3%.

Bitcoin tumbles below $40k, lowest since ETF debut.

It's the lowest level since the launch of 11 exchange-traded funds featuring the cryptocurrency earlier this month.

The e-coin's debut on New York exchanges had sparked enthusiasm among fans.

Bitcoin gained around 70% ahead of the launch as traders bet the ETFs would help draw in more everyday investors.

It's now fallen back by around 20%, and some analysts say the slump was always likely.

They note that bitcoin also tumbled following other big crypto events, such as the IPO for major exchange Coinbase.

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SGREIT Champ
01-24
SGREIT Champ
I am one of tge ones caught... but I am watching to average down. I am still optimustic.

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