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International Business Times

Business

Nica Osorio

Crypto Market In Red Following Bitcoin's Tumultuous Descent To $40K

Bitcoin Crypto United States Vetle Lunde altcoin CME CoinMarketCap Ripple

Cryptocurrency, Bitcoin's, virtual currency (Credit: Marco Verch/flickr)

KEY POINTS

Bitcoin (BTC) witnessed a further 4.5% decline, plummeting to a one-month low at $40,800
This decline comes in the wake of the recent approval and commencement of trading for spot Bitcoin ETFs on Jan. 11
As of 6:15 a.m. ET on Friday, Bitcoin was trading at $41,419.78

Despite notable inflows into Bitcoin exchange-traded funds (ETFs) during the previous four trading sessions, Bitcoin (BTC), the global crypto leader in market capitalization, experienced a notable downturn, descending to its lowest valuation since mid-December 2023 and breaching the critical $41,000 price threshold.

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