The Bitcoin market began the week on a positive note but experienced a decline early on Tuesday, with the BTC/USD pair dropping by 2% to approximately $61,650. ETC Group notes a lack of new positive catalysts for Bitcoin as the summer season approaches, which is generally quieter.
However, there is growing interest in the exchange-traded fund (ETF) sector. In particular, BlackRock's iShares Bitcoin ETF (IBIT) is nearing the size of the Grayscale Bitcoin Trust (GBTC), previously the leading Bitcoin fund in the market.