Bitcoin Slides Below $42K as Crypto Market Sentiment Cools After Initial ETF Euphoria
• Bitcoin dipped below $42,000 on Monday, with the crypto market taking a bearish turn after Bitcoin ETFs began trading in the U.S. last week
• Bitcoin had surged close to $49,000 with the launch of the first spot Bitcoin ETFs last week, but momentum was short-lived as traders sold on the news
• The overall crypto market cap dropped from nearly $1.9 trillion to $1.7 trillion over the past week since the ETF launch
• Bitcoin dominance slipped from 49.32% to 47.6% over the past week, while open interest also declined
• The Crypto Fear & Greed Index has turned "neutral" at 52, down from a high of 76 before the ETF launch, indicating declining market sentiment