Bitcoin, ether down alongside traditional markets as new year starts

Markets • January 3, 2023, 10:55AM EST
The Block

Quick Take

  • Bitcoin and Ethereum were both down roughly by 0.4% and 0.8%, respectively.
  • Shares of Coinbase, which Cathie Wood’s Ark bought last week, were down 2.6%.

Most cryptocurrencies fell on Tuesday alongside traditional markets.

Bitcoin and Ethereum were down up by 0.4% and 0.8%, respectively, and trading at around $6,640 and $1,200.

The S&P 500 fell by 0.5% and the Nasdaq 100 by 0.6%.

Shares of Coinbase, which Cathie Wood’s Ark bought last week, were down 2.6%, while MicroStrategy's rose 0.9% and Galaxy Digital's by 1.3%

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Meanwhile, the Grayscale Ethereum Trust (ETHE) hit a record discount of approximately 60%.

The Grayscale Bitcoin Trust (GBTC) has also recently hit record lows and is currently trading at a discount of around 45%.


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About Author

Catarina is a reporter for The Block based in New York City. Before joining the team, she covered local news at Patch.com and at the New York Daily News. She started her career in Lisbon, Portugal, where she worked for publications such as Público and Sábado. She graduated from NYU with a MA in Journalism. Feel free to email any comments or tips to [email protected] or to reach out on Twitter (@catarinalsm).

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