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First Mover Americas: Bitcoin Drops Below $64K, Ether Falls

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Lyllah Ledesma is a CoinDesk Markets reporter currently based in Europe. She holds bitcoin, ether and small amounts of other crypto assets.

Bitcoin, the world’s largest cryptocurrency by market value, has dropped 4% over the last 24 hours to less than $64,000.

Ether also saw a significant downside, losing 6%, and the CoinDesk 20 Index, a measure of the broader crypto market, lost 6% as well. Reutersthat U.S. issuers expect the Securities and Exchange Commission to deny their applications to launch spot ether exchange-traded funds after discouraging meetings with the agency in recent weeks.

In traditional markets, tech stocks declined after Meta failed to live up to high expectations for its first-quarter earnings report.For the first time since going live on Jan. 11, the fund did not draw any investor money, snapping a 71-day inflows streak. Seven of the other 10 funds followed IBIT’s lead. Fidelity’s FBTC and the ARK 21Shares Bitcoin ETF registered inflows of $5.6 million and $4.2 million, respectively, while Grayscale’s GBTC bled $130.

The indicator shows bitcoin is again trading at a discount on Coinbase, reflecting a weaker net buying pressure from U.S. investors.in a variety of blockchain and digital asset businesses and significant holdings of digital assets, including bitcoin. CoinDesk operates as an independent subsidiary with an editorial committee to protect journalistic independence. CoinDesk employees, including journalists, may receive options in the Bullish group as part of their compensation.

 

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