Bitcoin losses accelerate as ether gains 18%

Bitcoin Slides as Launch of 11 Bitcoin ETFs Fails to Sustain Momentum

Bitcoin faced a significant setback on Friday after what was expected to be a momentous week for the cryptocurrency. Despite the launch of 11 bitcoin ETFs in the U.S. after years of fighting for institutional acceptance, the price of bitcoin slid nearly 6% to $44,022.22. This decline pulled most of the crypto market into the red, with some exceptions. In the days leading up to this slide, bitcoin briefly surged to $49,058.48, its highest level since December 2021. Ultimately, however, it ended the week around the flat line.