The spot exchange-traded funds tracking bitcoin experienced their worst week in terms of outflows since the end of June, which became one of the reasons behind the underlying asset’s major correction. Although the net outflows from the spot Ethereum ETFs were slightly less, the overall ETH picture is worse given the lack of any green […]
Bitcoin (BTC) was trading near $84,000 after another failure to break above its yearly open at $87,700. Bitfinex said the next move will depend more on renewed spot demand than on increased futures leverage. Bitcoin had reached $87,200 on October 2, before retreating below the key level. The rejection marked the third failed breakout in […]
It was hard to imagine after June ended and the massive outflows recorded within the first six months of the year, but the spot BTC ETFs have managed to turn the tables and are actually well in the green now YTD. The spot Ethereum ETFs have erased last week’s losses, and the cumulative net inflows […]
Bloomberg ETF analyst Eric Balchunas said this week that Bitcoin ETFs could eventually reach three times the assets of gold ETFs, pointing to younger investors, falling volatility and stronger sales activity around BTC funds. His view rests on a long-term shift in who owns Bitcoin and how institutions use it, rather than a claim that […]
Bitcoin dipped below $80,000 as strong US jobs data raises the chances of another interest rate hike. Markets now put the odds of a Federal Reserve rate hike on September 16 at about 60%. According to the recent Bitfinex Alpha report, the US added 162,000 jobs in August, while unemployment stayed at 4.1%. The data […]
Bitcoin is trading above $79,000 after US spot ETFs pulled in a reported $730.9 million in a single day last week, their second-largest daily inflows of the year after the $843.6 million they drew in on January 14. Crypto analysis platform CryptoRus, in its latest market letter, framed this week as a test of whether […]
For over two months, bitcoin has struggled below $70,000, hovering around $62,000 to $65,000. Still, experts believe that the broader macro market condition is moving in favor of the apex crypto. Crypto exchange Bitfinex stated in its latest edition of the Bitfinex Alpha report that two of the three conditions that can support a BTC […]
Bitcoin is struggling to hold its June range floor after $390 million left US spot BTC ETFs last week, according to Wintermute’s newest market update. The trading firm says falling rate-hike odds have failed to lift BTC, while ETF redemptions and miner selling have left the market without a strong source of fresh demand. ETF […]
Bitcoin moved toward the top of its range last week as institutional demand through U.S. spot ETFs strengthened. Cooler employment data reduced expectations for an immediate Federal Reserve rate hike, but persistent selling pressure kept the move contained. The stronger ETF demand was reflected in $865.3 million of net inflows across five straight sessions, the […]
Bitcoin tried but failed at $65,000 on several occasions in the past week, and there are now multiple and different signals suggesting that another leg down is on the cards. From war escalation to ETF withdrawals, let’s dive in. Macro Factors Let’s start with the Wednesday developments on US soil when the central bank decided […]