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BTC outperforms broader crypto market, Ether price drop mirrors Bitcoin ETF launch

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Cryptocurrencies,ETF

BTC outperformed the wider crypto market as measured by the CoinDesk 20 Index during the Friday Asia trading session.

One analyst said the performance of ether exchange-traded funds mirrors that of the bitcoin ETFs after their launch in January. Bitcoin outperformed the broader crypto market during the Asia trading day, adding 4.4% to test $67,000 while the CoinDesk 20 Index rose 3.3%. Solana’s SOL jumped over 5% to lead gains among major tokens, CoinGecko data shows, with ether , BNB Chain’s BNB and Cardano’s ADA adding 3%.

Outflows from the Grayscale Bitcoin Trust , the world's largest bitcoin fund at the time, which converted from a closed-end structure into an ETF that allowed redemptions for the first time in 10 years, weighed on bitcoin's price over the first weeks. Later, inflows to rival funds overcame the negative trend, propelling BTC to an all-time high in March.

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BTC Outperforms Broader Crypto Market, Ether Price Drop Mirrors Bitcoin ETF LaunchShaurya is the Deputy Managing Editor for the Data & Tokens team, focusing on decentralized finance, markets, on-chain data, and governance across all major and minor blockchains.
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