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Bitcoinist
Bitcoinist
Without Spot Bitcoin ETFs, BTC Would Have Been Down 20%: Founder
6 days ago
Crypto Insight
Crypto Insight
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Title: Bitcoin Dips Below $52k Despite Inflows to Spot Bitcoin ETFs In a concerning turn of events for the blockchain industry, Bitcoin (BTC) has dipped below the $52,000 level, reflecting a pessimistic market sentiment. This decline comes despite spot Bitcoin Exchange-Traded Funds (ETFs) attracting a new weekly inflow of $2.4 billion. The global regulatory landscape for blockchain and cryptocurrency remains uncertain, with various jurisdictions imposing stricter measures. This has led to increased volatility in the market, causing investors to be cautious with their decisions. The industry's growth is further hindered by the lack of clarity surrounding the future of cryptocurrency exchanges. As a result, the market's overall trajectory remains uncertain, casting a shadow over the potential of blockchain technology and digital currencies. In conclusion, the current market conditions for blockchain and cryptocurrency are far from ideal. The dip in Bitcoin's value, despite the inflows to spot Bitcoin ETFs, highlights the need for a more stable regulatory environment and increased transparency in the industry. Until these issues are addressed, the future of the blockchain market remains uncertain.

9 days ago
Crypto look 1 look
Crypto look 1 look
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More than a month since the Bitcoin spot ETF was launched on January 11, trading activity has continued to be booming. The trading volume of 9 ETFs (excluding GBTC) hit the largest single-day trading volume since the market opened, reaching approximately US$2 billion. This huge trading volume was mainly due to the significant contribution of three ETFs: VanEck's $HODL, WisdomTree's $BTCW and Bitwise's $BITB. They all broke their respective records, reaching $399 million and $221 million respectively. and $178 million. $2 billion in trading volume would put them in the top 10 or so among ETFs and the top 20 or so among stocks, which is a pretty big number. In particular, $HODL's trading volume exceeded $258 million. This soaring figure (a surge of 14 times its average daily trading volume) was not driven by a large investor, but was composed of 32,000 individual transactions. This is 60 times its average daily transactions. There is currently no definite explanation for this sudden and explosive increase in transactions, but there are only two speculations: It may be that a Reddit or TikTok influencer recommended the product to their followers, which is very similar to the behavior of retail investors. Another speculation is that this could be a transaction between market makers. However, $IBIT and $BITO are more liquid, and it seems unreasonable for institutions to do this. In terms of capital flow, Lookonchain statistics pointed out that Ark Investment’s $ARKB and Fidelity’s $FBTC had the most significant capital inflows yesterday, respectively increasing their holdings of 2,700 Bitcoins (worth approximately US$138 million) and 2,252 Bitcoins ( Valued at approximately US$115 million), 8 ETFs excluding GBTC accumulated a total of 5,008 Bitcoins, valued at approximately US$256 million. In addition, GBTC's latest capital outflow was US$137 million, and the wave of capital outflows in the early days of GBTC's listing seems to be gradually fading. Since the listing of the Bitcoin Spot ETF, the product has had a net inflow of 107,401 Bitcoins, which is worth approximately US$5.584 billion based on the current price of approximately US$52,000. #BTC

8 days ago

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