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Peter Schiff Reacts to Bitcoin Price as Hourly Liquidation Tops $100 Million in Crypto Bloodbath

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Tomiwabold Olajide
Bitcoin plummeted more than 5% in last 24 hours
News
Tue, 23/01/2024 - 14:50
Cover image via www.youtube.com
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The price of Bitcoin (BTC) fell below $40,000 for the first time since December as the entire crypto market witnessed a bloodbath.

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On Jan. 11, spot Bitcoin ETFs began trading in the United States, and Bitcoin quickly surpassed $49,000. However, the boost was just temporary, as the price fell quickly afterward. The falls continued, with Bitcoin falling below the psychological level of $40,000 in the process.
Bitcoin (BTC) plummeted below $39,000 during European trading hours on Tuesday, wiping away nearly all of the previous two months' gains in anticipation of spot exchange-traded fund (ETF) approvals in the United States.
Bitcoin plummeted more than 5% in the last 24 hours, reaching a low of $38,600 before recovering marginally. At the time of writing, BTC was down 4.69% in the last 24 hours to $38,927.