Weekly Market Roundup: Bitcoin corrects to $50k levels, Ethereum ETFs record impressive numbers, Chinese traders turn to Chia mining By BTC Peers – Investing.com

Weekly Market Roundup: Bitcoin corrects to $50k levels, Ethereum ETFs record impressive numbers, Chinese traders turn to Chia mining By BTC Peers – Investing.com

© Reuters. Weekly Market Roundup: Bitcoin corrects to $50k levels, Ethereum ETFs record impressive numbers, Chinese traders turn to Chia mining

Bitcoin started the week on a negative note. The leading cryptocurrency fell below $50k during the week and has been struggling to maintain the $50k benchmark. Interestingly, in the face of the crash, Bitcoin transaction fees rose to over $50, with the number of unconfirmed transactions exceeding 100,000.For the first time since 2018, Bitcoin's market dominance fell below 50%.Bitcoin received a surprise endorsement from the People's Bank of China. The apex bank described Bitcoin as an investment alternative. Meanwhile, Goldman Sachs (NYSE:) included Bitcoin in its year-to-date asset returns report. And as expected, the digital asset was at the top of the list.Contrary to be popular narrative from the likes of billionaire Ray Dalio, who believe that governments could kill Bitcoin to maintain their monopoly on money, leading investment bank Morgan Stanley (NYSE:) believes that government-backed digital currencies and Bitcoin could co-exist.WeWork has joined the list of companies accepting Bitcoin and other cryptocurrencies as payment. The American real estate company also noted that it would add digital assets to its balance sheet.First Foundation (NASDAQ:) has entered a strategic