Bitcoin Retreats Slightly; FTX Receives Bids for Restart

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First Mover Americas: Bitcoin Retreats Slightly; FTX Receives Bids for Restart
The latest price moves in crypto markets in context for Oct. 24, 2023.
By Lyllah Ledesma, Omkar Godbole
AccessTimeIconOct 25, 2023 at 5:46 p.m.
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This article originally appeared in First Mover, CoinDesk’s daily newsletter putting the latest moves in crypto markets in context. Subscribe to get it in your inbox every day.
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Acquittal in Sam Bankman-Fried's Trial Is 'Certainly a Possibility,' Law Professor Says
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Bitcoin is down slightly Wednesday after dropping more than 3% from its perch near $35,000 late Tuesday morning as the ticker for BlackRock's (BLK) spot bitcoin ETF – IBTC – was removed from the Depository Trust & Clearing Corporation's (DTCC) website. The ticker's appearance on the DTCC site – rightly or wrongly – had investors speculating about imminent approval for a spot bitcoin ETF, thus playing a factor in BTC's sharp gain from the $30,000 area to more than $35,000. The cryptocurrency was trading at around $34,200 at the time of writing and was still up over 20% over the last seven days. “What we are potentially seeing is a permanent thawing of so-called ‘crypto winters.’,” said Diogo Monica, co-founder and president of Anchorage Digital. “While the digital asset market will always have bulls and bears, institutional adoption is pushing us closer to perpetual spring.”