Bitcoin Retreats from $50,000 After Hotter-than-Expected Inflation Data

Experience the latest in the digital currency markets as Bitcoin retreats from the $50,000 mark. Stay informed with insights from industry experts on CNBC Crypto World.

Bitcoin Retreats from $50,000

The latest episode of CNBC Crypto World delves into the recent developments in the digital currency markets, featuring insights from industry experts Matt Hougan, CIO at Bitwise Asset Management, and Ric Edelman, founder of the Digital Assets Council of Financial Professionals. The discussion revolves around Bitcoin’s retreat from the $50,000 mark, Franklin Templeton’s entry into the Ethereum ETF race, and the growing popularity of Bitcoin ETFs among investment advisors.

Bitcoin’s Recent Price Movement

Bitcoin experienced a significant retreat from the $50,000 threshold shortly after surpassing it for the first time in over two years. As of noon Eastern Time, Bitcoin traded around $48,500, marking its highest level since December 2021. This decline coincided with a broader market downturn, with tokens like Polygon’s MATIC experiencing a drop, albeit Ether saw a modest uptick, fueled by anticipation of an Ethereum ETF and renewed interest in NFTs.

Bitcoin Retreats from $50,000

Key Headlines

Michael Saylor, co-founder, and executive chairman of MicroStrategy, attributed Bitcoin’s upward trajectory to the increasing acceptance of Bitcoin as an asset class. Chang Pang Xiao, also known as CZ, saw a postponement in his sentencing until April, following his guilty plea to violating anti-money laundering regulations. Additionally, Franklin Templeton entered the spot Ether ETF race, aiming to join other major players seeking SEC approval.

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Insights from the ETF Conference

At the Exchange ETF Conference in Miami Beach, Matt Hougan and Ric Edelman provided insights into the growing role of Bitcoin ETFs in investment portfolios. Despite initial skepticism and regulatory concerns, ETFs have gained traction among investors, with Hougan highlighting the robust inflows into Bitwise’s ETF. Edelman emphasized the role of financial advisors in driving adoption and addressed regulatory compliance concerns.

Navigating Regulatory Challenges

The conversation also touched upon regulatory challenges and legal considerations surrounding Bitcoin ETFs. While regulators like the SEC and FINRA have issued cautionary statements, Edelman reassured that adherence to existing compliance standards, including Reg BI, mitigates potential risks for financial advisors. Moreover, ongoing education and training initiatives aim to equip advisors with the necessary tools to navigate this evolving landscape.


As Bitcoin ETFs continue to garner interest from investors and regulatory bodies, industry experts remain optimistic about their long-term prospects. Despite regulatory hurdles and compliance concerns, the growing acceptance of Bitcoin as a legitimate investment asset bodes well for the ETF market’s future. With ongoing education and regulatory clarity, Bitcoin ETFs are poised to play a significant role in diversified investment portfolios, driving further innovation and growth in the digital asset space.

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