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Bitcoin’s Market Position Amid Economic Indicators and ETF Developments as of January 30, 2024

Bitcoin is experiencing notable market movements, reflecting the wider economic landscape and investment trends. Currently trading at around $43,400, Bitcoin’s price demonstrates resilience in the face of various economic factors. The cryptocurrency had previously peaked at $49,000 on January 11, following the launch of US spot Bitcoin ETFs, but subsequently retraced to levels seen in early December 2023. Despite this, Bitcoin has rebounded impressively, marking a significant 157% growth in 2023 and a modest 2.7% increase this year.

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