Bitcoin

The post Bitcoin ETFs Loose $174 Million After Mt Gox Creditors Repayment News Next Week appeared first on Coinpedia Fintech News The spot BTC ETF outflows amounted to $174 million yesterday after it was revealed that Mt Gox’s creditors will start getting reimbursed beginning next week. In the past five trading sessions, Bitcoin ETFs have seen net outflows of $714 million. Grayscale’s GBTC fund saw the highest outflow of $90 million, while Fidelity’s FBTC fund witnessed an outflow of $35…

The post Binance CEO Richard Teng Bullish on Bitcoin Despite Recent Price Drop: Here’s Why appeared first on Coinpedia Fintech News Binance CEO Richard Teng remains optimistic about Bitcoin (BTC) despite its recent price drop to $58K. On June 25, Teng shared a post on X and mentioned, “It’s hard to not be bullish,” giving rise to global discussions. Also, he highlighted the increased BTC adoption across the globe, reflecting on factors like significant rise in vendors accepting payments in…

Bitcoin dropped to as low as $60,000 in the last 24 hours, and although the flagship crypto has reclaimed that level, crypto research firm 10x Research predicts that BTC can still go lower soon enough. The firm also outlined several factors that support this bearish outlook.  Bitcoin Could Drop To As Low As $50,000 10x Research’s lead analyst Markus Thielen mentioned in the report that Bitcoin could drop to as low as $50,000. He highlighted a topping formation for the…

In the past seven trading days, spot Bitcoin (BTC) exchange-traded funds (ETFs) have witnessed significant outflows amounting to $1.13 billion. This development has raised concerns among investors and traders about Bitcoin’s stability and future trajectory. Behind the Spot Bitcoin ETF Outflows: Shifts in Market Sentiment and Dynamics According to SoSo Value data, the spot Bitcoin ETFs have recorded outflows from June 13 until June 24. Grayscale Bitcoin Trust (GBTC) and Fidelity Wise Origin Bitcoin Fund (FBTC) are the biggest contributors to…

Japanese investment firm Metaplanet has announced the issuance of a $6.2 million bond to bolster its Bitcoin (BTC) holdings. The issuance of bonds is a key step in improving Metaplanet’s financial situation and offering its customers new investment opportunities. As Metaplanet continues to expand its Bitcoin holdings, the firm is positioning itself as a key player in Japan’s crypto market. What’s Behind Metaplanet’s Bitcoin Investment Strategy? Metaplanet revealed its bond issuance plan on June 24, and the Board of Directors…

Analyst predicts less market turmoil than initially feared as Mt. Gox begins repayments to creditors in July 2024. This development is pivotal for the cryptocurrency market, which recently saw significant volatility. Once a leading Bitcoin exchange, Mt. Gox faced bankruptcy in 2014, leaving thousands of creditors in limbo. Analyst Estimates That Mt. Gox Creditors Will Sell Only 6,500 BTC As the trustee announced the commencement of repayments, the market responded with a sharp drop in Bitcoin prices, plunging to $58,500.…

History shows that Bitcoin (BTC) price correction is inevitable whether it is a bull market or not. However, this cycle has been different, especially as BTC reached a new all-time high before the halving in April. Since the boom in the first quarter of 2024, the cryptocurrency’s price has been downhill. On-chain analysis dives into Bitcoin’s price prediction. Will respite appear, or are we in for another round of decline? Bitcoin Slides Down Crucial Point In Q1, the inflows into…

The Mt Gox Trustee has announced that Bitcoin (BTC) and Bitcoin Cash (BCH) repayments will commence in July 2024. Indeed, this marks a crucial step in the long-standing rehabilitation process, bringing hope to investors affected by the platform’s collapse. The crypto community expects a BTC and BCH sell-off following the repayment. Mt Gox Prepares For Repayment On Monday, the Trustee released a detailed notice outlining the final preparation stages under the Rehabilitation Plan. “The Rehabilitation Trustee will commence the repayments…

According to a recent analysis by the Korea Institute of Finance (KIF), the introduction of spot Bitcoin (BTC) exchange-traded funds (ETFs) in South Korea could lead to significant economic disruptions. The report highlights potential unique challenges that the South Korean market might face despite the global trend of approving crypto-linked ETF products. Potential Pitfalls of Bitcoin ETFs in South Korea The recent approval and introduction of spot Bitcoin ETFs in various global markets have sparked significant discussions in the South…