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Wall Street jinx? Traders weight 'sell the news' potential after Bitcoin ETF launch
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Wall Street opened its doors for the first Bitcoin (BTC) exchange-traded fund (ETF) on Oct. 19, with the listing of ProShares Bitcoin Strategy (BITO) on the New York Stock Exchange. The fund attracted more than $1 billion in trading volume on its first day, while BTC price rallied to a new record high of $67,000.
But the spot gains did not stay for too long with BTC paring some gains going into the weekend.
Bitcoin price corrected by almost 11% from its all-time high to reach levels below $60,000 on Saturday, raising fears about selloffs that typically come after the launch of major crypto derivatives products on Wall Street.
Nunya Bizniz, an independent market analyst on Twitter, recalled two of such major events: the listing of the first
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