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- 🌟 Photo Sharing Tips: How to Stand Out and Win?
1.Highlight Gate Elements: Include Gate logo, app screens, merchandise or event collab products.
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- 🎉 [Gate 30 Million Milestone] Share Your Gate Moment & Win Exclusive Gifts!
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Why is Bitcoin falling? It went below $39,000
Bitcoin, which went up to $49,000 with the acceptance of spot ETFs, continued its sharp decline in recent days today. The largest cryptocurrency saw below $39,000 weeks later. This decline also significantly increased the meltdowns in alt coins.
The total market capitalization of cryptocurrencies has fallen by more than 5% in the last 24 hours, with the figure falling to $1.59 trillion.
Grayscale and FTX sell-off impactful...
As it is known, after the approval given to Bitcoin ETFs, Grayscale's GBTC customers made serious sales. As a result of these sales, $3.4 billion came out of the GBTC ETF. Grayscale sold 14,292 Bitcoins yesterday. The total number of Bitcoins sold by Grayscale at the end of 8 trading days exceeded 65 thousand.
Like Grayscale, FTX has begun cashing out its GBTC shares. FTX's bankruptcy administration sold 22,000 shares worth of Bitcoin worth of GBTC.
All these sales and expectations that sales will increase further have brought the price below $39,000 for the time being.
Published: January 23, 2024 13:20Last Updated: January 23, 2024 13:26