● The U.S. Bitcoin spot ETF had a net outflow of $277.2 million this week

According to ChainCatcher, Farside Investors data showed that the U.S. Bitcoin spot ETF had a cumulative net outflow of $277.2 million this week. Among them, BlackRock IBIT had the largest net inflow, with a net inflow of $210.6 million during the week; ARKB had the largest net outflow, with a net outflow of $221 million during the week.

● Vitalik Buterin denies selling ETH for profit, saying funds are used to support projects and charity

Ethereum co-founder Vitalik Buterin denied selling millions of dollars of Ether (ETH) for profit, according to Cointelegraph. He said that since 2018, he has never sold ETH for profit, but to support various Web3 projects and charities.

● 40% of Telegram’s revenue comes from cryptocurrency

According to Odaily Planet Daily, DeFi researcher Ignas posted on the X platform that 40% of Telegram’s revenue comes from cryptocurrencies, including integrated wallets (storing, sending, receiving and trading cryptocurrencies) and selling digital collectibles (such as usernames and virtual phone numbers).

Overall, Telegram's revenue for 2023 is $342.5 million, but it still ended the year with a loss of $108 million. However, its balance sheet shows that it has nearly $400 million in cryptocurrency holdings (TON), which is more than the cash they hold.

● QCP Capital: If the non-farm payrolls next week are weaker than expected, there will be more reason to cut interest rates. The market is waiting for positive signals to seek a breakthrough.

According to Wu, QCP Capital said that BTC spot ETFs have seen outflows for four consecutive days, especially BlackRock's IBIT, which saw an outflow of $13.5 million for the first time since May. The US PCE data was lower than expected, increasing the possibility of the Fed cutting interest rates in the fourth quarter. If the non-farm payrolls data next week is weaker than expected, it will confirm the reason for the US to cut interest rates since September, and the current probability of a rate cut is 33.0% (25 basis points) and 67% (50 basis points).

Given the limited impact of recent macro news on the crypto market, Bitcoin is likely to continue to fluctuate between $58,000 and $65,000 in the short term, with the market awaiting a positive catalyst to break out of this range.

● Report: Singapore leads global cryptocurrency adoption

According to Wu, a report released by investment immigration consulting firm Henley & Partners shows that Asia is leading in global cryptocurrency adoption. Among them, Singapore has become a global leader due to its robust regulatory environment, financial technology innovation and widespread public adoption. Hong Kong ranks second and the UAE ranks third, with the UAE surpassing Singapore and Hong Kong in tax friendliness. Malaysia and Thailand also made it into the top ten, ranking eighth and tenth respectively.

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