Bitcoin falls to $40,000, lowest level since bitcoin ETF launch

Representation of the bitcoin cryptocurrency and a price chart are seen in this illustration taken October 24, 2023. REUTERS/Dado Ruvic/Illustration/File Photo

(Reuters) -Bitcoin fell to a seven-week low on Monday, hovering below $40,000 for the first time since the launch of 11 spot bitcoin exchange-traded funds on Jan. 11.

The world's largest cryptocurrency was last down 3.98% at $39,938.00, trading at its lowest since Dec. 4 after a brief recovery. Ether, the second largest cryptocurrency, was down 6.37% at $2,328.30.