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In a January 24 Barchart article, I highlighted Bitcoin’s buy-the-rumor and sell-the-fact price action after the SEC approved spot Bitcoin ETF products. I wrote: Bitcoin prices had been rallying into the January 10 announcement, reaching over $49,000 per token on January 11, the highest price since December 2021. However, prices have decreased after eight spot ETFs began trading, as the approval came with no endorsement and many warnings. Spot Bitcoin was at just below the $40,000 level on January 24. Bitcoin reached a low of $38,589.97 on January 23 and made higher lows and higher highs over …

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