Posted 1/19/2024, 5:34:46 PM
Bitcoin and Major Altcoins Plunge as Investors Take Profits Following Bitcoin ETF Hype
- Bitcoin price plunges towards $40,000, bringing down major altcoins like Solana, Avalanche, and Cardano
- Bitcoin has shed over 6% in the past week after getting close to $49,000 recently
- Price drop comes despite successful launch of Bitcoin spot ETFs in the US
- Investors are cashing out gains from pre-ETF hype and exiting Grayscale's Bitcoin Fund
- Solana down 7%, Avalanche down over 8%, Cardano down nearly 7% in past 24 hours