Why iShares Bitcoin Trust ETF Stumbled on Monday
On a blue Monday for its foundational cryptocurrency, iShares Bitcoin Trust ETF (NASDAQ: IBIT) also dipped into negative territory. Shares of the fund fell by 5% in value, on a notable decline not only with Bitcoin but also with many altcoins.
Investors clearly aren't feeling very confident about the immediate future of cryptos. Last week's rate cut by the Federal Reserve (Fed) was broadly expected by the time it occurred. Compounding that, the Fed hinted that it might be more resistant to further cuts across the coming months.
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Source Fool.com
