From Nasdaq:

Cryptocurrencies experienced a significant drop on Monday as selling activity outweighed buying. Bitcoin was down 3.45% at $39,862, Ethereum fell 4.31% to $2,331, and Dogecoin dropped 2.14% to $0.081. A wave of spot Bitcoin ETFs commenced trading on Jan. 11, pushing Bitcoin to $49,000 briefly, but the surge was short-lived. BlackRock’s and Fidelity’s spot products each added over $1 billion in assets under management within a week. Outflows of 19,250 BTC occurred after the approval of the transition to a spot Bitcoin exchange-traded fund. FTX sold 22 million shares, reducing its GBTC stake to zero. The global cryptocurrency market cap stands at $1.62 trillion, a 1.59% decrease in the past 24 hours. Stocks surged as the S&P 500 reached 4,850.43, and the Nasdaq Composite hit 15,360.29. Analyst Michael Van de Poppe predicts that Ethereum is poised to outperform Bitcoin after the ETF approval. Santiment reports that Bitcoin experienced a brief dip below $40K and notes a decrease in discussion about Bitcoin and Ethereum. All figures and statistics provided are accurate and from the source article.



Read more: Bitcoin, Ethereum, Dogecoin Drop As Grayscale GBTC Outflows Rise To Billions Of Dollars — Analyst Says King Crypto Saw ‘Violent Moves’