Bitcoin's Price Drops and ETF Decision Awaited

Urgent Update: Stay Informed Monday - Friday, 3 PM ET Bitcoin's value plummeted on Wednesday, erasing all the gains it had made earlier in the week. The current price stands at $42,159.37, representing a 6% decrease from the recent high of $45,913.30. This decline comes in the wake of a significant drop in the Nasdaq, prompting cautiousness among investors and a surge in bond yields. Additionally, concerns have arisen regarding the Securities and Exchange Commission's anticipated rejection of a bitcoin exchange-traded fund. Market volatility is on the rise, and there is speculation that this, combined with the SEC’s forthcoming decision, could lead to continued fluctuations in bitcoin's price. Historically, January has not been a strong month for bitcoin, having ended positively only five out of the past 11 years. Prior to its recent surge, bitcoin experienced a period of consolidation, following which it concluded December with a 12% increase. Throughout 2023, the cryptocurrency saw a substantial 157% surge in value. Stay updated with CNBC PRO for more essential investment insights.