Second bitcoin ETF

Second Bitcoin ETF launch drops Bitcoin back to $60k

The second Bitcoin ETF launch has sent the BTC price into a bearish mood and has dropped 9.5%. On October 20, the first Bitcoin ETF was launched on the ProShare and BTC made a new all-time high.

The Crypto market is so fragile and volatile that no one can make a guess that what will happen tomorrow. One minute you are winning the world and with a breeze of wind, you are back to being a loser. The second Bitcoin ETF launch impact has left people very stunned and surprised. The price of BTC has fallen to an intraday low of $60,618 on the Bitstamp exchange following the launch of the Valkyrie Bitcoin Strategy.

 Second bitcoin ETF
On Oct. 20, the top cryptocurrency hit a new all-time high of $67,016 after the first futures-based exchange-traded fund was launched by ProShares the day before.

Second Bitcoin ETF launch:

The launch of the Second Bitcoin ETF has a very negative impact on the market as the flagship crypto asset has fallen 9.5% from the peak. The launch of the first future-based exchange-traded fund on the ProShare was very different as BTC’s value rose to make a new all-time high of $67,016. This recent hype of Bitcoin ETF has supported the falling world of flagship currency but still, it has to deal with a lot of scenarios like the launch of the Second Bitcoin ETF.

Fed Chairman, Jerome Powell, has revealed to a banking panel that the central bank is on the track to taper monthly bonds. He added that in the next year, inflation is expected to remain higher than expected due to the double-whammy of labor shortage and supply chain issues. Despite the ETF hype, Bitcoin is the worst-performing coin in the top 10, with some altcoins remaining in the green in spite of the recent correction.

The Second Bitcoin ETF launch has not been up to the expectations of people but doesn’t lose hope yet in the flagship cryptocurrency. It is here to stay and struggle. For more content click here.

About mnmansha

MN Mansha is a cryptocurrency expert, trader, and content writer with extensive experience in covering everything related to digital assets — from price analysis to Blockchain disruption. Mansha authored 100+ stories for and other fintech media outlets and he's actively writing more every day. He’s particularly interested in regulatory trends around the globe that are shaping the future of digital assets.

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