Just over a week has passed since spot Bitcoin exchange-traded funds were introduced, and the cryptocurrency markets are experiencing difficulties. In the last seven days, the price of Bitcoin (BTC) has dropped by over 10%, as reported by CoinGecko. The largest cryptocurrency by market value is currently valued at $41,002, down from approaching $49,283 just last week. The much-anticipated Bitcoin exchange-traded funds (ETFs) have seen significant enthusiasm, particularly with BlackRock’s iShares ETF amassing more than $1 billion in managed assets. However, this raises the question: what has caused the recent decrease in its price? It’s likely related to investors taking profits following the initial excitement over ETFs. Some experts believe that the anticipatory increase in value due to ETF approval had already been factored into prices. This suggests that it was improbable for traders and investors to persist in purchasing once the authorization had been formally granted. Furthermore, the entire cryptocurrency market has suffered significant losses in the past seven days as well. In the last seven days, Solana (SOL) has seen a decline of more than 7% in its price, which now stands at $92.38. Meanwhile, Avalanche (AVAX) has experienced a drop of over 14%, with its current trading price at $32.82. In December, both assets experienced significant success as they garnered attention from institutional investors. However, over the last week, Ethereum (ETH), which is the second-largest cryptocurrency, has seen its value decrease by 8%. The current price is $2,466. After the U.S. Securities and Exchange Commission gave the green light to 10 Bitcoin spot ETFs, the cryptocurrency community is looking forward to the release of Ethereum spot ETFs. On Thursday, the main regulatory authority of Wall Street postponed its verdict on Fidelity’s proposed spot Ethereum ETF until March 5, which resulted in a decline in the price of the asset. The cryptocurrency market’s total value is now $1.7 trillion, with a decrease of 2.8% over the past day. To keep abreast of cryptocurrency developments, subscribe for daily updates sent straight to your email.