Bitcoin Price Drops Below $43K After New ETF Launches
• BTC dropped below $43K on Friday, down 6% day-over-day and 11% from Thursday's 2-year peak of $49K • Bitcoin mining stocks like Marathon Digital, Hut 8, and Riot Platforms fell over 8-10%, extending declines after Thursday's bitcoin ETF debuts • The declines happened a day after the launch of spot bitcoin ETFs, a milestone for the crypto industry • Research firm CryptoQuant predicted bitcoin could fall to $32K after an ETF approval, a "sell the news" event • Previous crypto milestone events like Coinbase's listing and ProShares' BITO ETF launch also coincided with price peaks, potentially signaling cooling prices