GBTC - Bitcoin Ethereum Dogecoin Rise As Investors Weigh Spot ETF Impact: Analyst Says Scenario For King Crypto Is 'Rejection' At $46K And Then Correction To Below $40K | Benzinga
Major cryptocurrencies on Tuesday evening posted some gains following a weekend characterized by consolidation as profit-taking occurred.
What Happened: Bitcoin has faced pressure following the introduction of spot exchange-traded funds (ETF) in the U.S.
According to data from Paris-based Kaiko, selling pressure has been focused on Binance, OKX, and Upbit by trading volumes.
On January 16, the Grayscale Bitcoin Trust (NYSE:GBTC) transferred 8,730 Bitcoin, valued at over $376 million, to Coinbase Prime deposit addresses. This transfer was disclosed by blockchain analytics platform Arkham Intelligence. The transactions suggest that the fund might have been compelled to sell a portion of its Bitcoin due to a decline in its share price.
Top Gainer (24 Hour)
The global cryptocurrency market cap now stands at $1.68 trillion, showing a 0.28% increase in the past 24 hours.
The S&P 500 concluded with a 0.37% decrease, closing at 4,765.98, while the Nasdaq Composite dropped by 0.19% to 14,944.35.
Moreover, the benchmark 10-year Treasury note yield surged by more than 11 basis points to reach 4.064%. This spike followed remarks by Federal Reserve Governor Christopher Waller, suggesting a potential slower pace of monetary policy easing than what had been anticipated by Wall Street.
Looking ahead, investors are ...