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#Write2earn #Bitcoin Pullback: #ETF Outflows Signal Market Uncertainty, one of the worst weeks in 2024 #bitcoinETF #bloodbath $BTC
Bitcoin has pulled back over 10% from its peak, mainly due to reduced interest in new spot Bitcoin exchange-traded funds. JPMorgan Chase and Co. analysts are cautioning that this pullback might have further to go.
The cluster of 10 spot Bitcoin ETFs is witnessing its largest weekly outflow since their launch on January 11. Concurrently, Bitcoin, the world’s largest cryptocurrency, is experiencing one of its toughest weeks this year, with a 4% drop. Its value stands at $65,434 as of 9:48 a.m. Friday in London.
According to JPMorgan strategists, Bitcoin appears to be overvalued, echoing their earlier prediction in February of possible declines leading up to April's highly anticipated halving event, which will reduce the supply of newly mined Bitcoin.
The sustained interest in CME Bitcoin futures coupled with declining flows into ETFs are significant warning signs for Bitcoin's price, the strategists noted in a Thursday report.
The strategists also highlighted a slowdown in net inflows into spot Bitcoin ETFs, particularly evident in the past week with significant outflows. This challenges the expectation of a continuous one-way influx into spot Bitcoin ETFs. They anticipate profit-taking to persist as the halving event nears, especially given the currently overbought market sentiment despite the recent correction.
In the previous month, the bank forecasted a potential drop in Bitcoin's price to around $42,000 post-April as the hype around the halving event diminishes.
From Monday through Thursday, a net $836 million was withdrawn from ETFs, reflecting outflows from the Grayscale Bitcoin Trust and a decrease in subscriptions for similar offerings from companies like BlackRock Inc. and Fidelity Investments.
Despite the record high of nearly $73,798 on March 14, retail trader enthusiasm may be fading, according to Naeem Aslam, chief investment officer at Zaye Capital Markets.
Bitcoin has pulled back over 10% from its peak, mainly due to reduced interest in new spot Bitcoin exchange-traded funds. JPMorgan Chase and Co. analysts are cautioning that this pullback might have further to go.
The cluster of 10 spot Bitcoin ETFs is witnessing its largest weekly outflow since their launch on January 11. Concurrently, Bitcoin, the world’s largest cryptocurrency, is experiencing one of its toughest weeks this year, with a 4% drop. Its value stands at $65,434 as of 9:48 a.m. Friday in London.
According to JPMorgan strategists, Bitcoin appears to be overvalued, echoing their earlier prediction in February of possible declines leading up to April's highly anticipated halving event, which will reduce the supply of newly mined Bitcoin.
The sustained interest in CME Bitcoin futures coupled with declining flows into ETFs are significant warning signs for Bitcoin's price, the strategists noted in a Thursday report.
The strategists also highlighted a slowdown in net inflows into spot Bitcoin ETFs, particularly evident in the past week with significant outflows. This challenges the expectation of a continuous one-way influx into spot Bitcoin ETFs. They anticipate profit-taking to persist as the halving event nears, especially given the currently overbought market sentiment despite the recent correction.
In the previous month, the bank forecasted a potential drop in Bitcoin's price to around $42,000 post-April as the hype around the halving event diminishes.
From Monday through Thursday, a net $836 million was withdrawn from ETFs, reflecting outflows from the Grayscale Bitcoin Trust and a decrease in subscriptions for similar offerings from companies like BlackRock Inc. and Fidelity Investments.
Despite the record high of nearly $73,798 on March 14, retail trader enthusiasm may be fading, according to Naeem Aslam, chief investment officer at Zaye Capital Markets.
#write2earn #Bitcoin ETFs Facing Outflows Amid Crypto Market Volatility #bitcoinBloddBath #BTC #bitcoinETF
$BTC
Spot bitcoin ETFs listed on U.S. exchanges are gearing up for their first week of experiencing more money flowing out than in since late January.
Crypto markets remained highly volatile on Friday, with bitcoin (BTC) dropping below $63,000 at one point after hovering around $67,000 just hours earlier. Though it has seen a slight recovery, the current price sits at $64,000, marking a 3.7% decrease over the past day. This sell-off had a ripple effect across the market, with Solana's token (SOL) taking a particularly hard hit, declining by more than 10% at one stage.
Bitcoin's sharp decline from its recent all-time high above $73,000 over a week ago initiated a corrective phase for crypto assets. Despite a 10% rally on Wednesday following a dovish stance from the Federal Reserve, recent price movements suggest a slower recovery than anticipated.
Mike Novogratz, CEO of Galaxy Digital, shared during a panel discussion at Bitcoin Investor Day in New York that reclaiming the $73,000 mark might take some time.
The weak price performance coincides with four consecutive days of net outflows for U.S.-listed spot bitcoin ETFs. While most funds are still seeing inflows, they haven't been enough to offset significant outflows from the Grayscale Bitcoin Trust (GBTC). On Thursday alone, GBTC witnessed $359 million flowing out, contributing to $94 million in outflows for the entire fund group. Fidelity's Wise Origin Bitcoin Fund (FBTC) experienced its lowest daily inflow on record.
This week, spot ETFs have seen over $830 million in outflows, marking their second negative week since late January when BTC corrected to $39,000.
Analysts at Coinbase Institutional suggested that the increased selling of GBTC shares could be partly due to Genesis selling shares as part of its bankruptcy process.
$BTC
Spot bitcoin ETFs listed on U.S. exchanges are gearing up for their first week of experiencing more money flowing out than in since late January.
Crypto markets remained highly volatile on Friday, with bitcoin (BTC) dropping below $63,000 at one point after hovering around $67,000 just hours earlier. Though it has seen a slight recovery, the current price sits at $64,000, marking a 3.7% decrease over the past day. This sell-off had a ripple effect across the market, with Solana's token (SOL) taking a particularly hard hit, declining by more than 10% at one stage.
Bitcoin's sharp decline from its recent all-time high above $73,000 over a week ago initiated a corrective phase for crypto assets. Despite a 10% rally on Wednesday following a dovish stance from the Federal Reserve, recent price movements suggest a slower recovery than anticipated.
Mike Novogratz, CEO of Galaxy Digital, shared during a panel discussion at Bitcoin Investor Day in New York that reclaiming the $73,000 mark might take some time.
The weak price performance coincides with four consecutive days of net outflows for U.S.-listed spot bitcoin ETFs. While most funds are still seeing inflows, they haven't been enough to offset significant outflows from the Grayscale Bitcoin Trust (GBTC). On Thursday alone, GBTC witnessed $359 million flowing out, contributing to $94 million in outflows for the entire fund group. Fidelity's Wise Origin Bitcoin Fund (FBTC) experienced its lowest daily inflow on record.
This week, spot ETFs have seen over $830 million in outflows, marking their second negative week since late January when BTC corrected to $39,000.
Analysts at Coinbase Institutional suggested that the increased selling of GBTC shares could be partly due to Genesis selling shares as part of its bankruptcy process.
#write2earn #BITCOIN FACES TURBULENCE: #ETF DEMAND WANES AMID FED UNCERTAINTY #bloodbath #bitcoinETF
Bitcoin took a dive to its lowest point in two weeks, but then managed to recover some losses as interest in dedicated US exchange-traded funds dwindles and investors start questioning how fast the Federal Reserve can slash interest rates.
Since hitting a record high of almost $73,798 on March 14, the digital currency has been on a downward trend, raising doubts about whether it’s hit its peak for now. Bitcoin dropped by as much as 4.6% before stabilizing around $63,350 on Wednesday.
The excitement around US spot-Bitcoin ETFs, which were launched with great hype on January 11, has cooled off. While these products saw a net inflow of $11.7 billion overall, they experienced their largest outflow on Tuesday.
The exit from the Grayscale Bitcoin Trust led to a $326 million outflow, while subscriptions dwindled for similar offerings from companies like Fidelity Investments and BlackRock Inc., according to Bloomberg data.
Bitcoin’s decline is happening as uncertainty looms over whether the Fed will adjust its rate-cut projections due to higher-than-targeted inflation. This uncertainty doesn’t bode well for speculators.
Tony Sycamore, a market analyst at IG Australia Pty, noted that some latecomers who bought in above $60,000 are now facing a reality check, especially those who expected a continuous influx into the new Bitcoin ETFs.
The broader crypto market has shed around $460 billion since reaching $2.9 trillion last week, according to CoinGecko. Tokens like Ether, BNB, and even the meme-favorite Dogecoin are all seeing losses.
The liquidation of bullish bets using derivatives could prolong, potentially hindering a quick recovery in the digital asset market, as suggested by K33 Research.
K33 Research’s Anders Helseth and Vetle Lunde highlighted the substantial liquidation of about $511 million worth of bullish crypto wagers in the past 24 hours, indicating significant downside volatility.
Bitcoin took a dive to its lowest point in two weeks, but then managed to recover some losses as interest in dedicated US exchange-traded funds dwindles and investors start questioning how fast the Federal Reserve can slash interest rates.
Since hitting a record high of almost $73,798 on March 14, the digital currency has been on a downward trend, raising doubts about whether it’s hit its peak for now. Bitcoin dropped by as much as 4.6% before stabilizing around $63,350 on Wednesday.
The excitement around US spot-Bitcoin ETFs, which were launched with great hype on January 11, has cooled off. While these products saw a net inflow of $11.7 billion overall, they experienced their largest outflow on Tuesday.
The exit from the Grayscale Bitcoin Trust led to a $326 million outflow, while subscriptions dwindled for similar offerings from companies like Fidelity Investments and BlackRock Inc., according to Bloomberg data.
Bitcoin’s decline is happening as uncertainty looms over whether the Fed will adjust its rate-cut projections due to higher-than-targeted inflation. This uncertainty doesn’t bode well for speculators.
Tony Sycamore, a market analyst at IG Australia Pty, noted that some latecomers who bought in above $60,000 are now facing a reality check, especially those who expected a continuous influx into the new Bitcoin ETFs.
The broader crypto market has shed around $460 billion since reaching $2.9 trillion last week, according to CoinGecko. Tokens like Ether, BNB, and even the meme-favorite Dogecoin are all seeing losses.
The liquidation of bullish bets using derivatives could prolong, potentially hindering a quick recovery in the digital asset market, as suggested by K33 Research.
K33 Research’s Anders Helseth and Vetle Lunde highlighted the substantial liquidation of about $511 million worth of bullish crypto wagers in the past 24 hours, indicating significant downside volatility.
SEC-- A First in Spot Bitcoin ETF Talks! Bloomberg
There has been a new development on the spot #Bitocin #ETF front, which has been expected to be approved for a long time and January 10 has been pointed out for possible approval.While the companies that have applied for the spot Bitcoin ETF to date have updated their applications in line with the SEC's statements and expectations, many companies have held meetings with the SEC.However, there was a first in spot BTC ETF applications.Bloomberg analyst James Seyffart also stated that Hashdex executives met with Samantha Ostrom from the SEC Chairman's Office, that is, from SEC Chairman Gary Gensler's team.However, there was a first in spot BTC ETF applications.Bloomberg analyst James Seyffart also stated that Hashdex executives met with Samantha Ostrom from the SEC Chairman's Office, that is, from SEC Chairman Gary Gensler's team.Related:Will Dogecoin (DOGE) Reach One Dollar?Dogecoin (DOGE) reaching $1 has become a common aspiration. But is it a realistic goal or a delusion? While there are contrary opinions, analysts believe Meme Moguls (MGLS), a new ICO, will. This P2E memecoin is currently in the first stage of its presale and has been tipped for a 100x upside.This post will cover the possibility of Dogecoin reaching $1 and present opposing arguments. Further, it will explore why Meme Moguls is the best new crypto to invest in. Let’s begin.Dogecoin Price Prediction: Will It Reach the Historic $1?Dogecoin (DOGE) is one of the most popular cryptocurrencies on the market, despite its humble origins. By market capitalization, it ranks tenth, highlighting its popularity.This memecoin reaching $1 has become one of the most discussed topics in the crypto community. At the time of writing, the Dogecoin price is $0.093, depending on the market sentiment.Related:Crypto Analyst Predicts Major Price Shift For Cardano (ADA)LuckSide, a crypto analyst, has weighed in on the price action of Cardano (ADA), giving an analysis of the near-term price performance of the crypto asset. The crypto analyst recently shared his predictions for Cardano (ADA) with the crypto community during one of his YouTube videos. In the YouTube video – “CARDANO ADA – MOMENT OF TRUTH!,” LuckSide asserted that ADA is at a critical crossroads.The analyst revealed a technical projection that indicates ADA is about to undergo a major price shift. According to him, this is either a bullish or a bearish trajectory in the near future.LuckSide finds signals that are pointing in the direction of a significant price shift, after analyzing ADA’s price charts. This analysis is centered on the significant price gap in the Cardano native token.LuckSide asserted that the gap is “where the highest concentration of liquidity is located for ADA.” This is marked by ongoing selling pressure at the resistance level between “$0.60 and $0.67,” in sharp contrast to a $0.40 level. This gap denotes an unexplored area and suggests a potential strong move, given ADA’s price history. He noted that Cardano could either rise to test the resistance level around $0.70 or drop to the $0.40 support level.The crypto expert also pointed out signs of robustness and strength of ADA in his video. The stability of pivotal support levels and moving averages underscores the strength of the crypto asset.The larger market indicators, such as the volatility and price stability of Bitcoin (BTC), further support this resiliency. The analyst also attributed the market’s movement to the impending Bitcoin Halving event in Mid-2024, due to its market impact. However, LuckSide notes that unforeseen circumstances have the potential to change ADA’s direction while conceding the unpredictability of the market. He further added that although, a decline to $0.40 “might create opportunities to buy the token at a lesser price.”Charles Hoskinson, the founder of Cardano recently underscored the network’s growth, acknowledging that it mimics the natural growth of Bitcoin. The founder took to X (formerly Twitter) to celebrate the network’s performance with the community.In the X post, Hoskinson stated that he has been observing with “glee as some people worry about Cardano’s blocks filling up.” He further reminded the community about the criticism of the network being a useless “ghost chain,” with no liquidity.Hoskinson has assured the community that “Cardano is designed to handle these loads.” He noted a “huge design space” that optimizes the network and DApps for greater scalability in the short and long term.In addition, he has highlighted the network’s victories without Venture Capital (VCs), the media, or influencers. My name is Godspower Owie and i am an employee for Bitcoinnist and NewsBTC news outlet. Sometimes i like to picture myself as an explorer, this is because i like visiting new places, i like learning new things (useful things to be precise), i like meeting new people - people who makes an impact in my life no matter how little it is. I cherish my time, my work, my family, and loved ones. I mean, those are probably the most important things in anyone's life. I don't chase illusions, i chase dreams. NewsBTC is a cryptocurrency news service that covers bitcoin news today, technical analysis & forecasts for bitcoin price and other altcoins. Here at NewsBTC, we are dedicated to enlightening everyone about bitcoin and other cryptocurrencies.We cover BTC news related to bitcoin exchanges, bitcoin mining and price forecasts for various cryptocurrencies.#bitcoinETF #BinanceSquare. #BinanceFeed.
After a long wait, US markets regulator Securities and Exchange Commission (SEC) finally gave a go-ahead to the spot bitcoin ETFs on Wednesday, a move that led to a massive jump in the bitcoin prices.
An ETF will be the simplest form of Bitcoin exposure for retail users. Investors can seamlessly benefit from Bitcoin price movements without the complexities of digital wallets or drastic investment strategy overhauls.
What is a spot bitcoin ETF?
A spot bitcoin ETF refers to an investment instrument which can invest directly in bitcoin rather than in its futures contracts
This would enable investors to get direct exposure to bitcoins rather than through derivative contracts. So, a spot ETF would own actual bitcoins, which will lead to higher transparency in the crypto transactions, and obviously greater stability of crypto prices.
Notably, SEC has rejected all such applications seeking approval for spot bitcoin ETF in the past 10 years but the speculations were rife that the approval would come at the start of calendar year 2024.#bitcoinETF #BTC #ETH $BTC $ETH $BNB
An ETF will be the simplest form of Bitcoin exposure for retail users. Investors can seamlessly benefit from Bitcoin price movements without the complexities of digital wallets or drastic investment strategy overhauls.
What is a spot bitcoin ETF?
A spot bitcoin ETF refers to an investment instrument which can invest directly in bitcoin rather than in its futures contracts
This would enable investors to get direct exposure to bitcoins rather than through derivative contracts. So, a spot ETF would own actual bitcoins, which will lead to higher transparency in the crypto transactions, and obviously greater stability of crypto prices.
Notably, SEC has rejected all such applications seeking approval for spot bitcoin ETF in the past 10 years but the speculations were rife that the approval would come at the start of calendar year 2024.#bitcoinETF #BTC #ETH $BTC $ETH $BNB
🧑🦱Franklin Templeton, one of the world's largest asset managers, has filed a spot #bitcoinETF application with the SEC, bringing the prospect of a U.S.
📈 signaling the growing recognition of Bitcoin as 👉"a future financial asset" 👈. 😱The start of the uptrend in next season - 2024.
Don't you think so? Tell us in a comment! 😋$BTC $ETH $BNB
📈 signaling the growing recognition of Bitcoin as 👉"a future financial asset" 👈. 😱The start of the uptrend in next season - 2024.
Don't you think so? Tell us in a comment! 😋$BTC $ETH $BNB
There are already 20 spot bitcoin-ETFs launched globally, which have raised $4.16 billion 👆 👆
The leader in this market is Canada, with second place going to Germany.
The question of the week with a claim to the question of the year: if the SEC approves a spot ETF in the US will more money be raised in it?
Clearly, BlackRock and Fidelity are now getting into the game, but if they actually needed such a fund, they would have bought shares of the Canadian Purpose Bitcoin ETF a long time ago 🙄
$BTC #bitcoinETF
The leader in this market is Canada, with second place going to Germany.
The question of the week with a claim to the question of the year: if the SEC approves a spot ETF in the US will more money be raised in it?
Clearly, BlackRock and Fidelity are now getting into the game, but if they actually needed such a fund, they would have bought shares of the Canadian Purpose Bitcoin ETF a long time ago 🙄
$BTC #bitcoinETF
👨🏻💻BTC's correlation with the Nasdaq 100 has dropped to 3% this month, hitting its lowest level in three years. On average, this figure was 60% in 2022.
💁🏻♂️Bitcoin is up 14% this month, while the Nasdaq index of the 100 largest and most actively traded US companies is only 3%.
👾And although historically a drop in the correlation of BTC with traditional assets could mean further growth, most likely this decline is the result of a strong rise in BTC against the backdrop of positive news from ETFs. #bitcoinETF $BTC
💁🏻♂️Bitcoin is up 14% this month, while the Nasdaq index of the 100 largest and most actively traded US companies is only 3%.
👾And although historically a drop in the correlation of BTC with traditional assets could mean further growth, most likely this decline is the result of a strong rise in BTC against the backdrop of positive news from ETFs. #bitcoinETF $BTC
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Crypto Rover analyzed the impact of 11 new Bitcoin ETFs on the BTC price
In a new video, YouTuber Crypto Rover shared his thoughts on the impact of 11 recently adopted Bitcoin spot ETFs on the price of the major cryptocurrency. Citing information from Bloomberg, he spoke of a colossal influx of $4 billion on the first day of trading.
Indeed, on January 11, the price of Bitcoin almost tested the $49,000 level, then it rolled back to the beginning of the $46,000 range and from this point resumed its recovery to $46,600.
According to Rover, even an injection of 1% of the trillion-dollar institutional capital controlled by the funds will lead to a significant increase in prices.
Having delved into technical analysis, the YouTuber came to the conclusion that the price of Bitcoin is growing exponentially, and, in his opinion, upward momentum should be observed throughout 2024.
#BitcoinETFs! #BitcoinWorld #Bitcoin-BTC
#bitcoinETF #BitcoinETF💰💰💰
$BTC
In a new video, YouTuber Crypto Rover shared his thoughts on the impact of 11 recently adopted Bitcoin spot ETFs on the price of the major cryptocurrency. Citing information from Bloomberg, he spoke of a colossal influx of $4 billion on the first day of trading.
Indeed, on January 11, the price of Bitcoin almost tested the $49,000 level, then it rolled back to the beginning of the $46,000 range and from this point resumed its recovery to $46,600.
According to Rover, even an injection of 1% of the trillion-dollar institutional capital controlled by the funds will lead to a significant increase in prices.
Having delved into technical analysis, the YouTuber came to the conclusion that the price of Bitcoin is growing exponentially, and, in his opinion, upward momentum should be observed throughout 2024.
#BitcoinETFs! #BitcoinWorld #Bitcoin-BTC
#bitcoinETF #BitcoinETF💰💰💰
$BTC
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Tom Lee: “In 5 years, Bitcoin will be trading at $500,000”
Tom Lee is confident that Bitcoin is quite capable of growing to these levels, since its supply is limited to 21 million coins. Growth will also be supported by increased demand for Bitcoin thanks to the long-awaited approval of spot Bitcoin ETFs in the United States.
Previously, Sean Farrell, head of digital asset development at Fundstrat, also predicted significant growth for Bitcoin if cryptocurrency ETFs were approved in the United States. According to him, the daily demand for Bitcoin will reach $125 million, while the daily supply will be only $25 million. The equilibrium price will have to increase in order for the daily supply to match the daily demand. Therefore, the settlement price should be between $140,000 and $180,000 before the Bitcoin halving occurs in April 2024, Farrell emphasized.
#BitcoinWorld #Bitcoin-BTC #BitcoinETFs! #bitcoinETF #BitcoinETF💰💰💰
$BTC
Tom Lee is confident that Bitcoin is quite capable of growing to these levels, since its supply is limited to 21 million coins. Growth will also be supported by increased demand for Bitcoin thanks to the long-awaited approval of spot Bitcoin ETFs in the United States.
Previously, Sean Farrell, head of digital asset development at Fundstrat, also predicted significant growth for Bitcoin if cryptocurrency ETFs were approved in the United States. According to him, the daily demand for Bitcoin will reach $125 million, while the daily supply will be only $25 million. The equilibrium price will have to increase in order for the daily supply to match the daily demand. Therefore, the settlement price should be between $140,000 and $180,000 before the Bitcoin halving occurs in April 2024, Farrell emphasized.
#BitcoinWorld #Bitcoin-BTC #BitcoinETFs! #bitcoinETF #BitcoinETF💰💰💰
$BTC
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HashKey: Ten Companies Preparing to Launch Spot Crypto ETFs in Hong Kong
According to the chief operating officer of China's first licensed exchange, Livio Weng, seven or eight spot products are already in the actual development stage.
The HashKey exchange itself mainly deals with spot ETFs. This summer, the firm became the first licensed trading platform in Hong Kong to offer retail services.
Earlier, the Securities and Futures Commission of Hong Kong (SFC) and the Hong Kong Monetary Authority announced that they are ready to accept and consider applications for the launch of spot cryptocurrency exchange traded funds (ETFs).
#bitcoinETF
$BTC
According to the chief operating officer of China's first licensed exchange, Livio Weng, seven or eight spot products are already in the actual development stage.
The HashKey exchange itself mainly deals with spot ETFs. This summer, the firm became the first licensed trading platform in Hong Kong to offer retail services.
Earlier, the Securities and Futures Commission of Hong Kong (SFC) and the Hong Kong Monetary Authority announced that they are ready to accept and consider applications for the launch of spot cryptocurrency exchange traded funds (ETFs).
#bitcoinETF
$BTC
As the spot Bitcoin ETF fire continues to burn, the United States Securities and Exchange Commission (SEC) has acknowledged receiving an application from Valkyrie Investments.
#bitcoinETF #SECNews #crypto2023
#bitcoinETF #SECNews #crypto2023
Bitcoin Price Set for Strong Weekly Close Amid Options Expiry
#bitcoin analysis :
The world’s largest cryptocurrency Bitcoin (BTC) is poised for the strongest weekly close after March this year, amid a flurry of applications for spot #bitcoinETF from some of the largest financial institutions in the world.
Bitcoin is currently flirting around $30,000 levels after making strong gains earlier this week. As of press time, BTC is trading at $30,015 with a market cap of $582 billion.
#BlackRock has put its foot in the door with its spot Bitcoin ETF application, thereby triggering a major euphoria in the crypto market. “An approval would profoundly impact the market structure of Bitcoin, as it would reduce the barriers for financial advisers to offer exposure” to the token, Vetle Lunde, senior analyst at K33 Research, wrote in a note.
Cathie Wood, the CEO and chief investment officer of ARK Invest, provided insights into why the firm is optimistic about the price of Bitcoin and has set a target of $1 million. Wood believes that Bitcoin has the potential to outperform even in a deflationary environment due to its ability to address the counterparty risk associated with the traditional financial system.
#opbnb #crypto2023
$BTC $BNB
The world’s largest cryptocurrency Bitcoin (BTC) is poised for the strongest weekly close after March this year, amid a flurry of applications for spot #bitcoinETF from some of the largest financial institutions in the world.
Bitcoin is currently flirting around $30,000 levels after making strong gains earlier this week. As of press time, BTC is trading at $30,015 with a market cap of $582 billion.
#BlackRock has put its foot in the door with its spot Bitcoin ETF application, thereby triggering a major euphoria in the crypto market. “An approval would profoundly impact the market structure of Bitcoin, as it would reduce the barriers for financial advisers to offer exposure” to the token, Vetle Lunde, senior analyst at K33 Research, wrote in a note.
Cathie Wood, the CEO and chief investment officer of ARK Invest, provided insights into why the firm is optimistic about the price of Bitcoin and has set a target of $1 million. Wood believes that Bitcoin has the potential to outperform even in a deflationary environment due to its ability to address the counterparty risk associated with the traditional financial system.
#opbnb #crypto2023
$BTC $BNB
Bought the rumor, indecisive on the coming news.
My Tuesday longs are already printing. Wednesday is unpredictable.
Let me know your opinion for wednesday's BTC futures.
One thing I know for sure, SEC is will not approve any ETFs on Wednesday. But they might be some progressive news to keep the bullish momentum.
Don't #fomo
Just #dyor
#bitcoinETF
Wednesday's BTC futures?
My Tuesday longs are already printing. Wednesday is unpredictable.
Let me know your opinion for wednesday's BTC futures.
One thing I know for sure, SEC is will not approve any ETFs on Wednesday. But they might be some progressive news to keep the bullish momentum.
Don't #fomo
Just #dyor
#bitcoinETF
Wednesday's BTC futures?
Long
100%
Short
0%
4 votes • Voting closed
The spot Bitcoin ETF will be different that the Bitcoin ETNs launched before with shareholders owning a portion of fund's underlying assets.#bitcoin #bitcoinETF
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VanEck Liquidates Its Bitcoin Futures ETF
A week after launching spot Bitcoin ETFs in the US, VanEck is closing its BTC futures fund
Asset manager VanEck announced the liquidation of its Bitcoin futures ETF. Reasons for this decision include declining productivity and declining investor interest.
On January 17, VanEck's board of trustees approved the liquidation of the BTC futures ETF on the Cboe BZX exchange. The fund appeared in November 2021 and invested in contracts based on the first cryptocurrency.
The decision follows the US Securities and Exchange Commission's (SEC) approval of spot Bitcoin ETFs, which was one of the reasons for the closure.
#Bitcoin-BTC #BitcoinWorld #etf #SEC #bitcoinETF
$BTC
A week after launching spot Bitcoin ETFs in the US, VanEck is closing its BTC futures fund
Asset manager VanEck announced the liquidation of its Bitcoin futures ETF. Reasons for this decision include declining productivity and declining investor interest.
On January 17, VanEck's board of trustees approved the liquidation of the BTC futures ETF on the Cboe BZX exchange. The fund appeared in November 2021 and invested in contracts based on the first cryptocurrency.
The decision follows the US Securities and Exchange Commission's (SEC) approval of spot Bitcoin ETFs, which was one of the reasons for the closure.
#Bitcoin-BTC #BitcoinWorld #etf #SEC #bitcoinETF
$BTC
See original
The 10 BTC-ETF traded volume was three times the daily volume of all 500 ETFs launched in 2023
On January 16, the trading volume of shares of 10 spot Bitcoin exchange-traded funds (ETFs) amounted to $1.8 billion, of which $1.6 billion was accounted for by products of Grayscale, BlackRock and Fidelity. That's more than triple the daily performance of the 500 ETFs launched in 2023. Their total was $450 million, with the top earner earning $45 million, according to Bloomberg senior analyst Eric Balchunas.
Source: Twitter (NYSE:TWTR).com
#etf #BTCETF #BTCETFSPOT #BitcoinETF💰💰💰 #bitcoinETF
$BTC
On January 16, the trading volume of shares of 10 spot Bitcoin exchange-traded funds (ETFs) amounted to $1.8 billion, of which $1.6 billion was accounted for by products of Grayscale, BlackRock and Fidelity. That's more than triple the daily performance of the 500 ETFs launched in 2023. Their total was $450 million, with the top earner earning $45 million, according to Bloomberg senior analyst Eric Balchunas.
Source: Twitter (NYSE:TWTR).com
#etf #BTCETF #BTCETFSPOT #BitcoinETF💰💰💰 #bitcoinETF
$BTC
Billionaire Rubenstein: BlackRock's Bitcoin Love - A Mighty Boost for Crypto Chuckles!
Billionaire Brainiac Rubenstein, co-founder of The Carlyle Group, gives a thumbs-up to BlackRock's Bitcoin ETF move. He hints, "If BlackRock's in, Bitcoin's here to stay!" Rubenstein's playful chat with Bloomberg reveals that even while crypto skeptics giggle, big shots like BlackRock are joining the Bitcoin bash.
Rubenstein isn't joining the parade himself, but he's having some "what if" regrets. Imagine if he grabbed Bitcoin at $100—like buying a unicorn for pocket change! 🦄💸 Beyond the U.S., the world's crypto-curious, and Rubenstein suggests they're after the ultimate secret party trick: untraceable trades! 🎉
#bitcoin #bitcoinETF #blackrock
Billionaire Brainiac Rubenstein, co-founder of The Carlyle Group, gives a thumbs-up to BlackRock's Bitcoin ETF move. He hints, "If BlackRock's in, Bitcoin's here to stay!" Rubenstein's playful chat with Bloomberg reveals that even while crypto skeptics giggle, big shots like BlackRock are joining the Bitcoin bash.
Rubenstein isn't joining the parade himself, but he's having some "what if" regrets. Imagine if he grabbed Bitcoin at $100—like buying a unicorn for pocket change! 🦄💸 Beyond the U.S., the world's crypto-curious, and Rubenstein suggests they're after the ultimate secret party trick: untraceable trades! 🎉
#bitcoin #bitcoinETF #blackrock