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That’s even as fund companies prepare to launch the first U.S. ETFs investing directly in Ether, the second-ranked cryptoasset. Solana, meanwhile, was very recently a favourite for a variety of digital-asset hedge funds.
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Bitcoin hit a record of $73,798 in March but is trailing traditional investments such stocks, bonds and gold this quarter. The 200-day moving average at about $57,500 is in focus now as a possible zone of support for the price, according to IG Australia Pty Market Analyst Tony Sycamore.
“A bearish mood seems to be setting in,” said Caroline Mauron, co-founder of digital-asset derivatives liquidity provider Orbit Markets. “The market is finding it hard to digest any large sell orders.”
