BTC pulled back to as low as $41,500 early Monday before recovering after briefly hitting its two-year high above $49,000 as the first-ever spot bitcoin ETFs in the U.S. started trading last Thursday, analysts at Japan-based crypto exchange bitBank told CoinDesk in an email.
We are skeptical of the optimism shared by many market participants at the moment that a lot of fresh capital will enter the crypto space as a result of the spot bitcoin ETF approval, analysts led by Nikolaos Panigirtzoglou wrote.
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