Bitcoin fell to a seven-week low following the launch of 11 spot bitcoin exchange-traded funds on 11 January.
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Bitcoin posted its worst streak in about a month amid ebbing fanfare over new US ETFs.
The US securities regulator has approved the first US-listed ETFs to track bitcoin.
The approval of the first spot-bitcoin ETFs in the US has boosted ether, the second most valuable cryptocurrency.
The regulatory approval of an exchange-traded fund isn’t supposed to be a mass media event worthy of Wrestlemania.
This week will mark the culmination of a yearslong push to launch ETFs backed by bitcoin in the US.
A slump in bitcoin saw the cryptocurrency erase all gains it had made so far this year, bucking a long-running upswing.
Bitcoin rose above $45 000 on Tuesday for the first time since April 2022.
If 2022 was the year that “broke bitcoin”, 2023 has been the year of trauma recovery.
Most companies that have applied for crypto licences in South Africa are already registered as financial service providers.