All eyes are on ETH today, with the expected launch of spot Ethereum ETFs in the States.
Despite the positive inflows toward the largest spot Bitcoin ETFs in the US, the price of the underlying asset retraced hard yesterday but is close to $67,000 once more now.
Most altcoins have charted notable losses in the past day, with AVAX, DOT, INJ, and ADA leading the way.
Bitcoin’s Ride Around $67K
The primary cryptocurrency had a volatile end to the previous business week as it failed to maintain above $65,000 and slipped to $63,000. However, it bounced off on Friday evening and Saturday morning and jumped to $67,500.
After a minor retracement there, it calmed once again on Sunday morning, but the current US President’s withdrawal from the 2024 election race rattled the markets once again later that day.
Joe Biden’s decision to halt his campaign first pushed BTC south by about two grand before the aset skyrocketed to a monthly peak of just over $68,000 on Monday morning.