Bitcoin(CRYPTO: BTC) flattered only to deceive. The big surge that many investors expected following the spot Bitcoin exchange-traded fund approval did not materialize and the apex crypto has been on a downtrend since topping just under $49,000 a day after the approval.

A fund manager on Saturday warned that the apex crypto could be headed much lower in the days to come.

What Happened:Bitcoin will likely give up much of its 184% gain it made over the past year, said Future Fund Managing PartnerGary Black. The analyst attributed his bleak outlook to expected institutional interest not materializing and...