Jan 19, 5:34 pm
Decrypt
Bitcoin Sinks Towards $40,000 as Solana and Avalanche Lead Altcoin Dip
Bitcoin (BTC) has experienced a significant drop in value, falling by almost 4% in the past day and over 6% in the past week. This decline comes after the approval of spot BTC exchange traded funds (ETFs), which were expected to boost the price of BTC. However, investors are now cashing out their gains and exiting positions in cryptocurrencies like Solana, Avalanche, and Cardano, causing further market losses.