Bitcoin and Crypto Prices Retreat After Hitting New Highs on ETF Launches
• Bitcoin price down 12% in past week to $41K, after hitting nearly $49K when ETFs launched
• BlackRock's Bitcoin ETF (IBIT) has attracted over $1.1B in assets under management in first week
• Drop in Bitcoin price potentially due to investors selling after ETF hype and approval was "priced in"
• Overall crypto market down, with Ethereum off 3% and Solana down over 6% in past 24 hours
• Despite recent drops, crypto on bullish run since December given institutional interest and ETF approvals