The leading cryptocurrency began the month positively, tapping highs above $48,900 on Jan. 11 with the debut of U.S.-based spot exchange-traded funds (ETFs). Prices then came under pressure, dropping to lows near $38,500 last week as investors in the crypto investment vehicle, the Grayscale Bitcoin Trust (GBTC), took profits. The pullback saw some whales snap up coins at cheaper valuations through the crypto exchange Bitfinex.
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