Bitcoin and Ethereum Price Prediction as BTC Dips Below $40,000 and ETH Struggles to Hold $2,200

cryptonews.com:

Bitcoin, the foremost digital currency, witnessed a notable dip below the critical $40,000 mark, briefly falling to around $39,500. This decline has been linked to substantial Bitcoin sales, notably influenced by the Grayscale GBTC Bitcoin ETF, fueling concerns about a possible further descent to the $38,000 level.

Bitcoin has fallen about 20% since the Jan. 11 launch of the first ETFs funds investing directly in the token https://t.co/3jGyNKrvfT

— Bloomberg Markets (@markets) January 23, 2024

Concurrently, Ethereum, another major player in the crypto arena, is grappling with its own bearish momentum, having fallen to $2,347, marking a significant 24-hour drop of nearly 3%.

These movements come amidst a broader market context where Bitcoin has seen over a 20% decline since the launch of the first exchange-traded funds (ETFs) by major firms like BlackRock and Fidelity.

#BTC looks ready for bounce imo