Bitcoin Price Slides Below $40K as New ETF Frenzy Fades
• Bitcoin price falls below $40,000 for the first time since December amid selling pressure • New spot bitcoin ETFs launched on Jan 11, sparking brief rally to $49,000 before prices retreated • Top ETFs from BlackRock and Fidelity top $1 billion in assets under management in first week • Outflows occurring from Grayscale's GBTC as investors take profits or switch to new ETF options • Bearish bitcoin price trend emerges for first time since Oct 2 launch point for previous 70% rally