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Even BlackRock can’t lift Bitcoin to $69,000

Even BlackRock can’t lift Bitcoin to $69,000
RegulationPeople & CultureMarkets
Bitcoin's price failed to rally as Bitcoin ETFs debut in US. Credit: Andrés Tapia

It finally happened. Spot Bitcoin exchange-traded funds were approved in the US.

Following a false start the Securities and Exchange Commission approved 11 spot Bitcoin ETFs Wednesday. The funds went to market Thursday, with combined volumes of over $4.3 billion on the first day of trading.

Grayscale’s GBTC registered the highest volumes, over $2 billion, while BlackRock and Fidelity led the newcomers with over $1 billion and $673 million, respectively.

Bitcoin fell over 5% Friday afternoon in London, despite the big event and bettors on Polymarket don’t expect to see fresh highs anytime soon.

There’s only a 22% chance that Bitcoin will beat its previous all-time high around $69,000 by March 31st, bettors on the platform say.

Watch this space!

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