{"id":2663,"date":"2024-01-23T16:35:05","date_gmt":"2024-01-23T16:35:05","guid":{"rendered":"https:\/\/www.cryptometer.io\/news\/?p=2663"},"modified":"2024-01-23T16:35:08","modified_gmt":"2024-01-23T16:35:08","slug":"bitcoins-price-decline-following-etf-launch","status":"publish","type":"post","link":"https:\/\/www.cryptometer.io\/news\/bitcoins-price-decline-following-etf-launch\/","title":{"rendered":"Bitcoin&#8217;s Price Decline Following ETF Launch"},"content":{"rendered":"\n<p>Bitcoin (BTC) has recently experienced a notable decline, falling below the $40,000 threshold for the first time in over a fortnight. Bitcoin, the most valuable cryptocurrency in terms of market cap, is trading at $39,847. This represents a 3.44% decrease in the last day and a 6.40% drop over the past week.<\/p>\n\n\n\n<p>Interestingly, this downturn occurred shortly after the U.S. approved Bitcoin exchange-traded funds (ETFs). These ETFs, which let investors engage with Bitcoin without directly buying the digital currency, were initially expected to boost the market. However, the reality has been quite the opposite.<\/p>\n\n\n\n<p>The launch of these ETFs, particularly the transformation of Grayscale&#8217;s Bitcoin Trust into a spot BTC ETF, has led to a sell-off. Previously, the Grayscale Bitcoin Trust operated similarly to a closed-end fund, limiting how investors could redeem their shares. Post-conversion, there&#8217;s been a rush to sell, causing significant Bitcoin withdrawals from the fund and applying downward pressure on its price.<\/p>\n\n\n\n<p>The impact of this trend is not limited to Bitcoin. The wider cryptocurrency market is also struggling, with leading altcoins like Ethereum (ETH) and Solana (SOL) facing declines. Ethereum has dropped by more than 4.45% in the last 24 hours, now trading at $2,330, while Solana has decreased by 6.09%, currently valued at $84.80.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Bitcoin (BTC) has recently experienced a notable decline, falling below the $40,000 threshold for the first time in over a fortnight. Bitcoin, the most valuable cryptocurrency in terms of market cap, is trading at $39,847. This represents a 3.44% decrease in the last day and a 6.40% drop over the past week. Interestingly, this downturn [&hellip;]<\/p>\n","protected":false},"author":13,"featured_media":508,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[257,43,18],"tags":[],"class_list":{"0":"post-2663","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-bitcoin","8":"category-general-news","9":"category-market-updates"},"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v26.2 (Yoast SEO v27.2) - https:\/\/yoast.com\/product\/yoast-seo-premium-wordpress\/ -->\n<title>Bitcoin&#039;s Price Decline Following ETF Launch<\/title>\n<meta name=\"description\" content=\"Bitcoin (BTC) has recently experienced a notable decline, falling below the $40,000 threshold for the first time in over a fortnight. Bitcoin, the most\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.cryptometer.io\/news\/bitcoins-price-decline-following-etf-launch\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Bitcoin&#039;s Price Decline Following ETF Launch\" \/>\n<meta property=\"og:description\" content=\"Bitcoin (BTC) has recently experienced a notable decline, falling below the $40,000 threshold for the first time in over a fortnight. Bitcoin, the most\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.cryptometer.io\/news\/bitcoins-price-decline-following-etf-launch\/\" \/>\n<meta property=\"og:site_name\" content=\"CryptoMeter.io\" \/>\n<meta property=\"article:published_time\" content=\"2024-01-23T16:35:05+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2024-01-23T16:35:08+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.cryptometer.io\/news\/wp-content\/uploads\/2022\/12\/bitcoin-hashrate.webp\" \/>\n\t<meta property=\"og:image:width\" content=\"1920\" \/>\n\t<meta property=\"og:image:height\" content=\"1200\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/webp\" \/>\n<meta name=\"author\" content=\"Anish Khalifa\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:creator\" content=\"@CryptoMeterIO\" \/>\n<meta name=\"twitter:site\" content=\"@CryptoMeterIO\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Anish Khalifa\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"2 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"NewsArticle\",\"@id\":\"https:\/\/www.cryptometer.io\/news\/bitcoins-price-decline-following-etf-launch\/#article\",\"isPartOf\":{\"@id\":\"https:\/\/www.cryptometer.io\/news\/bitcoins-price-decline-following-etf-launch\/\"},\"author\":{\"name\":\"Anish Khalifa\",\"@id\":\"https:\/\/www.cryptometer.io\/news\/#\/schema\/person\/79113eacd105c71e5fa6019d028ca61e\"},\"headline\":\"Bitcoin&#8217;s Price Decline Following ETF Launch\",\"datePublished\":\"2024-01-23T16:35:05+00:00\",\"dateModified\":\"2024-01-23T16:35:08+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/www.cryptometer.io\/news\/bitcoins-price-decline-following-etf-launch\/\"},\"wordCount\":210,\"publisher\":{\"@id\":\"https:\/\/www.cryptometer.io\/news\/#organization\"},\"image\":{\"@id\":\"https:\/\/www.cryptometer.io\/news\/bitcoins-price-decline-following-etf-launch\/#primaryimage\"},\"thumbnailUrl\":\"https:\/\/www.cryptometer.io\/news\/wp-content\/uploads\/2022\/12\/bitcoin-hashrate.webp\",\"articleSection\":[\"Bitcoin\",\"General News\",\"Market Updates\"],\"inLanguage\":\"en-US\",\"copyrightYear\":\"2024\",\"copyrightHolder\":{\"@id\":\"https:\/\/www.cryptometer.io\/news\/#organization\"}},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.cryptometer.io\/news\/bitcoins-price-decline-following-etf-launch\/\",\"url\":\"https:\/\/www.cryptometer.io\/news\/bitcoins-price-decline-following-etf-launch\/\",\"name\":\"Bitcoin's Price Decline Following ETF Launch\",\"isPartOf\":{\"@id\":\"https:\/\/www.cryptometer.io\/news\/#website\"},\"primaryImageOfPage\":{\"@id\":\"https:\/\/www.cryptometer.io\/news\/bitcoins-price-decline-following-etf-launch\/#primaryimage\"},\"image\":{\"@id\":\"https:\/\/www.cryptometer.io\/news\/bitcoins-price-decline-following-etf-launch\/#primaryimage\"},\"thumbnailUrl\":\"https:\/\/www.cryptometer.io\/news\/wp-content\/uploads\/2022\/12\/bitcoin-hashrate.webp\",\"datePublished\":\"2024-01-23T16:35:05+00:00\",\"dateModified\":\"2024-01-23T16:35:08+00:00\",\"description\":\"Bitcoin (BTC) has recently experienced a notable decline, falling below the $40,000 threshold for the first time in over a fortnight. 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