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Bitcoin Retreats, Quickly Regains $30K Perch as Investors Mull ETF Timing, Inflation

Bitcoin took a brief turn to the bad, old days below $30,000 early afternoon Wednesday (ET) before righting itself to return to its loftier perch. The largest cryptocurrency was recently trading at about $30,100, down 2.2% over the past 24 hours. After rising to its highest level in a year last week – over $31,300 – following spot bitcoin ETF filings by BlackRock. Still, Mark Connors, head of research for Canadian digital asset manager 3iQ, wrote in a message to CoinDesk that bitcoin has risen 11% for the month, breaking from its more sluggish performance of the last two months amid the more upbeat news.

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