Bitcoin experienced a sudden drop of nearly 6% during a summer evening in the U.S., erasing gains made after recent positive comments from Federal Reserve Chair Jerome Powell.
Despite initially bouncing back above $60,100, bitcoin closed at $58,800, down 4.5% in the past 24 hours, reflecting a turbulent crypto market dynamic.
Ether, while performing slightly better with a 4% drop, has seen a significant decline of 21% in its price relative to bitcoin this year, indicating a divergence in trends.
The contrasting performance of bitcoin and ether spot ETFs this year illustrates the stark difference in investor sentiment, with bitcoin funds attracting over $10 billion, while ether vehicles lost assets.
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