price slipped on Monday, pushing the largest cryptocurrency by market cap back below the $70,000 threshold amid higher market volatility ahead of the long-awaited halving event that is expected to happen later this month.Last week, Bitcoin's 30-day annualized realized volatility surged to 63.76%, staying above 60% as the week ended, according to Glassnode data, marking the highest level since August 2022.
Analysts at JPMorgan estimated sales of roughly $184 million across the US spot Bitcoin ETFs on Thursday, the group’s 54th trading day. Analysts said there was a noticeable slowdown across the board, except for Bitwise's BITB vehicle, which experienced a significant uptick with $67 million in inflows on Thursday, notably above its daily average of $30 million.
The firm is currently engaging financial advisors for this purpose, he mentioned. The move towards an IPO in Thailand had been first hinted at in a shareholder letter from 2023, though without a definitive timeline.
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