Bitcoin has peeled back more than 10% from its all-time high as the appetite for fledgling spot Bitcoin exchange-traded funds moderates. JPMorgan Chase and Co. strategists warned the retreat has room to run.
The group of 10 spot Bitcoin ETFs just notched its biggest three-day outflow since the products debuted on Jan. 11. Meanwhile, the world’s largest cryptocurrency is set for one of its worst weeks of the year after a 4% retreat. The token changed hands at $65,415 as of 6:57 a.m. Friday in Singapore.
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