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via CoinDesk · By CoinDesk Staff

Why Trump's bitcoin ETF plans likely collapsed before even getting off the ground

BTC

BTC/USDT

$79,939.40

+0.40%

$79,939.40

+0.40%

(24s)

24h Volume

$7,087,039,750.91

24h H/L

$80,200.00 / $79,545.96

Change: $654.04 (0.82%)

Long/Short

53.1%

Long: 53.1%Short: 46.9%

Funding Rate

+0.0024%

Longs pay

Data provided by COINOTAG DATALive data

Bitcoin

Daily

$79,977.99

▲ 0.18%

Volume (24h): -

Resistance Levels

Resistance 3$88,315.23

Resistance 2$82,260.41

Resistance 1$80,157.58

Price$79,977.99

Support 1$79,635.96

Support 2$77,509.46

Support 3$73,033.65

Pivot (PP):$79,824.58

Trend:Sideways

RSI (14):67.1

CoinDesk Staff

(04:35 PM UTC)

1 min read

Updated byEmily Watson

0 comments

Trump Media withdrew its bitcoin ETF filing as analysts pointed to fee pressure, weak demand and fierce competition in the crowded spot bitcoin ETF market.

Trump Media & Technology Group likely abandoned plans for its bitcoin BTC$77,336.25 exchange-traded fund (ETF) because the economics no longer worked.

ETF analysts say the company behind Truth Social faced a brutal reality: the spot bitcoin…

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CoinDesk Staff · CoinDesk

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