Bitcoin News Roundup for Jan. 11, 2021

With the price of BTC down by more than $8K and an opportunity to trade your crypto for a New York City bar (or two), CoinDesk’s Market’s Daily is back with the latest crypto news roundup.

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This episode is sponsored by Nexo.io and this week’s special product launch: Stacks.co.

Today's stories:

Bitcoin Plummets as Miners Sell Inventory, Spot Markets Panic

Bitcoin fell sharply early on Monday, having failed to establish a foothold above $40,000 over the weekend.

Long-Desired Bitcoin ETF Could Actually Hurt Price in Short Term: JPMorgan 

An ETF could draw institutional money from the Grayscale Bitcoin Trust, a support for the price of the cryptocurrency, the report said.

Crypto Long & Short: Traditional and Crypto Markets are Starting to Converge 

The latest OCC statement, which opens the door for banks to use blockchains to validate payments, hints at more than just better services.

Two NYC Bars Could Be Yours for Only 25 Bitcoin or 800 Ether: Report 

The bar owner says he's hoping "to catch one of these crypto dudes who always wanted to own a bar."

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