Bitcoin Drops Below $29,000 for the First Time in Over a Month
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Bitcoin dropped below $29,000 for the first time in over a month as the recent exorbitance over ETFs and a more favourable regulatory outlook eases.The largest digital-asset by market value fell as much as 4.2% to $28,865, the least since June 21. Bitcoin is up around 75% this year. Most other tokens were also lower on Monday, with recent high-flyer XRP down about 7% and Solana off 8%. “After a sharp rally spurred by spot ETF excitement, Bitcoin has consolidated for over a month around $30,000 as the market awaits incremental information regarding the probability of the myriad of filings coming to fruition,” said Spencer Hallarn, a derivatives trader at crypto investment firm GSR. The recent jump in Bitcoin coincided with a raft of filings for Bitcoin exchange-traded funds in the...