Bitcoin saw a brief stall in its rally which triggered a decline back down to $33,700. This decline, seemingly out of nowhere, may have not been random given some developments in the crypto space. As the rally resumes once more, here’s a look at these developments.
BlackRock Spot Bitcoin ETF Listing Taken Down
The BlackRock Spot Bitcoin ETF was first listed on the Depository Trust and Clearing Corporation’s (DTCC) on Tuesday, triggering the first wave of the Bitcoin rally. However, in the same day, crypto community members noticed that the listing on DTCC had been mysteriously taken down.
The listing would remain off the site for several hours while community members speculated on what could be the cause of this. Around this time, the price of Bitcoin began to fall, seemingly driven by the fact that investors saw the removal of the BlackRock listing as a sign that a Spot Bitcoin ETF wasn’t coming as soon as they expected.
Hours later, Bloomberg Analyst Joe Light revealed that the
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