Bitcoin held a retreat as traders assessed how crypto markets might react if regulators meet expectations by approving the first US exchange-traded funds investing directly in the token.
The largest digital asset shed 2.3% over the past two days and traded at $42,530 as of 6:36 a.m. Wednesday in London. Bitcoin is up 157% this year, a rally driven partly by wagers that the ETFs will encourage fresh demand.
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