Crypto Market Sees Mixed Movements Post ETF Launch

Following the launch of a new Exchange-Traded Fund (ETF), the cryptocurrency market exhibited a positive trend on Friday, with Bitcoin leading a rise that also influenced altcoins. Despite the introduction of a $1.5 billion spot Bitcoin ETF in the US, the market experienced over $230 million in liquidations within 24 hours, highlighting the volatile nature of the market as indicated by CoinGlass data.

Bitcoin’s price dipped below $46,000 after a 0.84% decrease in the last 24 hours, trading at $45,982, while the market cap exceeded $900 billion. The trading volume saw a significant drop of around 17%, falling to $43.2 billion.

Ethereum, the leading altcoin, bucked Bitcoin’s trend with an increase of over 1% in the last 24 hours, climbing to $2,615. However, its trading volume decreased by more than 36%, settling at $19.2 billion.

Pepe Coin faced a sharp decline of over 6% in the last 24 hours, with its market value retracting to $561 million and its trading volume dropping by more than 14% to $208 million. Amidst these fluctuations, the global crypto market cap rose by approximately 0.6% to $1.76 trillion, with the Fear and Greed Index indicating a high level of investor interest at 73.

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