Bitcoin falls by nearly 6% after bitcoin-linked ETF fervor wanes

• Bitcoin fell to as low as $58,884.75 on Wednesday, a week after the trading debut of the bitcoin-linked ETF

• The dip in bitcoin’s price coincides with a surge in a new meme coin, shiba inu

Bitcoin fell by nearly 6% on Wednesday after the anticipation surrounding the trading debut of the bitcoin-linked exchange-traded fund (ETF) waned this week.

Bitcoin fell to as low as $58,884.75 at about 3 AM ET on Wednesday. The second-largest cryptocurrency, ether, also fell 5% to $4,006.53.