Bitcoin

Hong Kong is open for business as its bourse now includes spot Bitcoin and the world’s first spot Ethereum ETFs, which went live at 09.30 local time. According to the HKEX website, Asia’s first spot crypto asset ETFs are “trading now” with 14 new funds listed. Three ETF issuers have listed products – China Asset Management, Bosera Asset Management, and Harvest Global Investments under the tickers CAM, BOS, and HGI, respectively. Asia Leading The Way Brian Roberts, head of equities…

Outflows in digital asset investment products continued for the third week in a row. The latest weekly outflow of $435 million marked the highest outflow since March. According to the latest report by CoinShares, the trading volumes in Exchange-Traded Products (ETPs) dropped to $11.8 billion last week from $18 billion the previous week, with Bitcoin prices declining by 6%. Bitcoin and Ethereum Lead Digital Asset Outflows The latest edition of CoinShares’ Digital Asset Fund Flows revealed that outflows were concentrated…

X, led by Elon Musk, plans to integrate financial services, sparking speculation about crypto adoption. With licenses in 25 U.S. states, X might allow seamless crypto transactions within its platform. Twitter, now rebranded as X, has stirred speculation regarding its potential integration of cryptocurrencies, including Bitcoin, Ethereum, and Dogecoin. Under the stewardship of Tesla billionaire Elon Musk, the social media platform has obtained money-transmitting licenses in 25 U.S. states, igniting rumors of a significant shift toward financial services integration. Christopher…

Analysts at Bernstein have assured investors that the slowdown in Bitcoin ETF flow is a temporary pause with resumption imminent. The firm offers a bullish outlook for BTC and further argues that the denial of an ether spot ETF could be bullish for ether. With investors raising concern over the falling Bitcoin ETF inflows, research and brokerage firm Bernstein has offered assurance that this is a temporary slump. The launch of Bitcoin spot ETFs was one of the most bullish…

Bitcoin bulls may soon be back in business. According to Willy Woo, an on-chain analyst, market data shows that urgent “market sells” responsible for forcing the coin from all-time highs are now falling. This development may prop up prices, preventing further sell-offs. Bitcoin Selling Pressure Easing This preview is due to falling Cumulative Volume Delta (CVD) data, an on-chain indicator that can also track market sentiment. Specifically, it tracks buying and selling aggression from market participants. Now that CVD is dropping,…

Crypto analyst DonAlt has outlined a scenario where the Bitcoin price could drop to as low as the mid-$40,000. He further suggests that this price breakdown might be necessary for the continuation of BTC’s bull run. How Bitcoin Could Drop To As Low As $47,000 In an update to his Bitcoin analysis, DonAlt noted that Bitcoin had dropped back to around the $60,000 price range and could eventually break that support if it continues to be tested. From the accompanying…

A quant has pointed out how a Bitcoin metric may have detected selling pressure in the market, and therefore, the subsequent price drops, in advance. Bitcoin CDD Registered Spikes Before Recent Price Plunges In a new post on X, an analyst has discussed about how the Coin Days Destroyed (CDD) on-chain indicator may be used to identify selling pressure in the market early. A “coin day” refers to the quantity that 1 BTC accumulates after staying still on the blockchain…

Is the Bitcoin bear market already starting to rear its head? One new piece of market data suggests this could be the case. As of Monday, Bitcoin is entering what could be its fifth negative weekly close in a row. Historically, Bitcoin has never closed five consecutive weeks in the red outside of a bear market environment. A Slow But Steady Pullback Twitter user MisterCh0c took notice of the pattern on Monday, and was quick to receive backlash from more…

Spot Bitcoin ETFs have caused a major stir in the cryptocurrency industry, unlike anything seen before. Following the US and Hong Kong, Australia is now gearing up for a series of launches of Bitcoin exchange-traded funds. The ASX has received applications from at least two organizations, and there’s another one in the pipeline Australia Braces for Bitcoin ETF ASX Ltd., which manages about 80% of the country’s equity trading, is expected to approve the first spot Bitcoin ETFs for the…