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Crypto longs lose $404 million in four hours as bitcoin briefly slips below $80,000

By Zack Abrams

Spot bitcoin ETFs lost $773 million on Thursday and Friday after three days of net inflows, per SoSoValue data.

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Bitcoin

The first and largest cryptocurrency, created in 2009, with a fixed maximum supply and no central issuer.

Its price swings and adoption by funds and companies make it a bellwether for the whole crypto market.

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Exchange-traded fund

An investment fund that holds a basket of assets, such as the shares in an index, and trades on a stock exchange like a single share.

ETFs offer low-cost, diversified investing and are a fast-growing way people save.

More about Exchange-traded fund
Cryptocurrency

A digital currency secured by cryptography and recorded on a blockchain, without a central bank issuing it.

Crypto prices are volatile, and governments are still deciding how to regulate it.

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