Bitcoin's price has experienced a decline of over 1.50%, reaching around $42,000. This coincides with asset managers like BlackRock and VanEck revising their filings for a spot bitcoin ETF, indicating a change in institutional approach towards Bitcoin. JPMorgan CEO Jamie Dimon, who has been critical of cryptocurrencies, is facing accusations of hypocrisy due to the bank's involvement in BlackRock's proposed Bitcoin ETF. The approval of these ETFs by the SEC could lead to more institutional interest and investment in Bitcoin. The current trend for Bitcoin is bearish, but it is supported at key levels that could prevent further decline.
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