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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

$63,316.00

+0.40%

$63,316.00

+0.40%

(24s)

24h Volume

$2,352,227,111.84

24h H/L

$63,340.00 / $62,968.45

Change: $371.55 (0.59%)

Long/Short

67.7%

Long: 67.7%Short: 32.3%

Funding Rate

+0.0032%

Longs pay

Data provided by COINOTAG DATALive data

Bitcoin

Daily

$63,133.51

▲ 0.08%

Volume (24h): -

Resistance Levels

Resistance 3$64,507.45

Resistance 2$63,879.31

Resistance 1$63,135.87

Price$63,133.51

Support 1$62,993.17

Support 2$61,814.38

Support 3$61,056.47

Pivot (PP):$63,064.66

Trend:Downtrend

RSI (14):43.6

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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