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Christmas Is Over: Bitcoin (BTC) Loses $2 Trillion Market Cap
In recent times, the cryptocurrency market has been undergoing significant fluctuations. One of the most notable occurrences is the drastic drop in the value of Bitcoin, which resulted in a loss of approximately $2 trillion in its market capitalization.
According to financial analyst Gamza Khanzadaev, this sudden and unexpected shift in the crypto market can be attributed to the spot Bitcoin ETFs launched in the US. This change has led to a direct correlation between the tendencies typical for the S&P 500 and the cryptocurrency market.
As a result, Bitcoin’s continuous operation without any days off does not appear to be an advantage but rather the opposite.
Source: u.today
