Major cryptocurrencies on Monday evening traded mixed as the long-anticipated approval of a spot exchange-traded fund (ETF) resulted in a “sell-the-news” event. What Happened: The term “Sell the news” is commonly used in capital markets to describe the phenomenon where asset prices, leverage, and sentiment escalate leading up to a bullish event, only to experience a subsequent decline shortly after. On Monday, BTC retraced to a low of $41,600 before rebounding, following a brief surge to a two-year high above $49,000. This surge occurred as the first-ever spot Bitcoin ETFs began trading in the…
