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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

$62,757.20

-1.49%

$62,757.20

-1.49%

(24s)

24h Volume

$18,213,201,301.12

24h H/L

$63,728.00 / $61,938.00

Change: $1,790.00 (2.89%)

Long/Short

67.1%

Long: 67.1%Short: 32.9%

Funding Rate

+0.0032%

Longs pay

Data provided by COINOTAG DATALive data

Bitcoin

Daily

$62,692.00

▼ -0.07%

Volume (24h): -

Resistance Levels

Resistance 3$68,191.60

Resistance 2$64,241.09

Resistance 1$62,981.77

Price$62,692.00

Support 1$61,786.70

Support 2$60,546.45

Support 3$59,130.91

Pivot (PP):$62,757.77

Trend:Downtrend

RSI (14):37.2

CoinDesk Staff

(04:35 PM UTC)

1 min read

Updated byEmily Watson

620 views

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…

COINOTAG does not provide financial advisory services. This content is for informational purposes only and should not be considered investment advice. Cryptocurrency investments involve high risk.

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CoinDesk Staff · CoinDesk

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