Bitcoin (BTC) on Thursday briefly topped $49,000 for the first time since December 2021 as U.S.-listed spot bitcoin exchange-traded funds (ETF) commenced trading amid heightened anticipation.
Cryptocurrency-focused stocks such as Coinbase (COIN) also declined, erasing their pre-market gains. Coinbase (COIN) dropped 5% since trading opened, while bitcoin miners Marathon Digital (MARA) and Riot Platforms (RIOT) both endured over 10% losses.
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