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Spot Bitcoin ETFs in the US Acquired Nearly 4x the Amount Mined Market Update - January 10, 2025 Takeaways Spot bitcoin ETFs in the US acquired 51,500 bitcoin in December, nearly quadruple the 13,850 BTC mined: Spot bitcoin ETF-driven demand could create a supply shock that would drive prices higher in the coming months. But the price of bitcoin pulled back below $93,000 this week after reports the US government might sell $6.5 billion worth of bitcoin seized from Silk Road. Backpack Exchange has reportedly acquired FTX EU after regulatory approval

Ripple Receives Approval for Stablecoin Market Update - December 13, 2024 Amazon shareholders urge the company to allocate 5% of its reserves to bitcoin: The proposal highlights bitcoin’s outperformance against traditional assets and echoes similar moves by companies like MicroStrategy and Tesla. Crypto liquidations hit $1.5 billion Monday as bitcoin dipped below $95K: But the world’s largest cryptocurrency rallied past $101,000 on Wednesday after positive inflation data set the stage for a rate cut next week. Ripple's RLUS

Bitcoin Pushed Past $100k Market Update - December 6, 2024 Bitcoin breaks contain: The price of bitcoin surged past the $100,000 mark on Wednesday night, setting off celebrations within the digital asset ecosystem. XRP surpasses Tether’s USDT to claim the third spot in market cap: A new regulatory regime in the United States has boosted the coin’s prospects. Trump chooses crypto advocate for next SEC chair: President-elect Donald Trump has selected Paul Atkins, a long-time crypto industry advocate, to lead the

Bitcoin Hits All-Time High After BTC ETF Options Debut Market Update - November 22, 2024 Takeaways BlackRock’s iShares Bitcoin Trust became the first US spot bitcoin ETF approved for options trading: The price of bitcoin subsequently surged to nearly $98,000 on Thursday, reaching a new all-time high. Institutional interest in MicroStrategy surged this week, with the value of those holdings jumping to $15.3 billion: Microstrategy founder Michael Saylor has continued to purchase bitcoin and MSTR shares have seen year-to-date gains of roughl

Crypto Prices Rally After US Election Results Market Update - November 18, 2024 Donald Trump secured presidential win: The news is widely seen as a boon to the crypto space because of Trump’s pro-crypto policies. Bitcoin prices hit an all-time high. Solana reached a record 123 million active addresses in October, up over 42% from September: The network’s user engagement is now reportedly surpassing that of Ethereum by some measures. Spot bitcoin ETFs in the US reported $541 million in outflows on Monday, marking their largest dail

Bitcoin Approaches All-Time High Market Update - November 1 2024 Fueled by positive market sentiment, the price of bitcoin exceeded $73,100, just shy of its all-time high: The Fed’s decision on rate cuts could further fuel a price increase, but bitcoin pulled back Thursday toward $70,000 amid a broader tech sell-off. US spot bitcoin ETFs recorded $870 million in inflows on Tuesday, led by BlackRock’s IBIT with $629 million: It’s believed that bitcoin’s swelling price might be contributing to investment in these funds.

US Spot Bitcoin ETFs Reverse Inflow Streak Market Update - October 25, 2024 US spot bitcoin ETFs saw $79 million in net outflows Tuesday, reversing a seven-day inflow streak that had brought in over $2.6 billion: The outflows came mainly from Ark and 21Shares' ARKB fund. Bitcoin prices inched closer to $70,000 at the start of the week when futures open interest surged to over $40 billion: But prices subsequently pulled back mid-week as investors pared their gains. Tether’s USDT has hit a record $120 billion market cap, which c

Mt. Gox Delays Repayment Deadline, Bitcoin Rallies Market Update - October 18, 2024 Mt. Gox has delayed its bitcoin repayment deadline by a year: This delay is viewed as a greenshoot for bitcoin prices, with traders arguing it reduces selling pressure on the broader market. The price of bitcoin was just short of $67,000 by Thursday afternoon. US spot bitcoin ETFs saw notable net inflows of more than $555 million on Monday, the highest since June: Spot ether ETFs also saw $17 million in inflows, continuing positive momentum for both inves

New HBO Documentary Hints at Identity of Bitcoin Inventor Market Update - October 11th 2024 Takeaways HBO documentary seeks to unveil Satoshi Nakamoto’s identity : HBO released a documentary, “Money Electric: The Bitcoin Mystery,” on Tuesday that suggests an early Bitcoin developer named Peter Todd invented the cryptocurrency. Crypto.com has filed a lawsuit against the SEC after receiving a Wells notice, claiming the agency has overextended its authority : The lawsuit challenges the SEC's stance that most cryptocurrencies are securities and th

Bitcoin Falls Marking the Worst 'Uptober' in Nearly a Decade Market Update - October 4th 2024 Takeaways Bitcoin fell following the news of Iran’s retaliation on Israel, and the election of Japan’s new prime minister: The decline comes after a recent rally spurred by the Federal Reserve's rate cut. Net inflows into global crypto funds reached $1.2 billion last week, marking their largest increase in 10 weeks: US-based spot bitcoin ETFs contributed $1.1 billion in these inflows, while Ethereum products ended a five-week streak of outflows by adding

SEC Allows Options Trading on BlackRock’s Bitcoin ETF Market Update - September 27th, 2024 Takeaways The SEC has approved Nasdaq's request to list and trade options on BlackRock's spot bitcoin ETF: The decision introduces new hedging tools for investors but comes with a 25,000 contract limit which has been criticized by the exchange as “conservative.” Crypto investment products saw a second consecutive week of inflows, totaling $321 million, after the Fed's decision to cut rates: Bitcoin investment products led the pack with $284 million i

Federal Reserve Cuts Interest Rates by 50 BPS, Crypto Rallies Market Update - September 20th, 2024 Takeaways The Federal Reserve cuts rates: The Federal Reserve announced Wednesday it will cut the federal benchmark interest rate by a half-percentage point (50 basis points), lowering the range to between 4.75% and 5%. Crypto markets responded well to the move, with the price of bitcoin pushing past $63,000. US crypto legislation still possible this year: US senator Cynthia Lummis (R-WY) said in an interview Tuesday she thinks crypto legislation

Inflation Increases 2.5%, Setting Scene for Rate Cut Market Update, September 13th 2024 Takeaways Inflation stays under control: The Consumer Price Index increased 2.5% in August compared to the previous year, down from the 2.9% bump in July. The latest data indicates the Federal Reserve will likely cut interest rates by 25 basis points next week. Bankrupt crypto exchange FTX has reached a $14 million settlement with Emergent Technologies, resolving a dispute over 55 million Robinhood shares: The agreement avoids further legal action and

Centralized Exchanges See Uptick In Trading Volumes Market Update - September 6, 2024 Takeaways The market faced a broad decline over the past week: More than $162 million in crypto liquidations occurred last weekend, primarily from long positions, as US bitcoin ETFs experienced net outflows totaling $276 million. As of Thursday, the price of bitcoin had dropped to nearly $56,000. The SEC has expressed concerns over FTX’s proposed distribution of stablecoins to creditors: While FTX’s plan aims to repay 98% of creditors in cash, the SEC

Traders bet big on US election with $345M in options Market Update - August 22, 2024 Harris policy adviser talks digital assets: Speaking at a Bloomberg roundtable event, Kamala Harris policy adviser Brian Nelson said Harris will support policies to grow crypto and other emerging technologies. Spot bitcoin ETF holdings total $4.7 billion: Goldman Sachs and Morgan Stanley invested in BlackRock's iShares Bitcoin Trust, among other ETFs. Bitcoin crossed over $61,000 as volatility remains high: With the Federal Reserve's interest rate decis

Inflation Pulls Back Again, Building Case for September Rate Cut Takeaways Inflation cools again: Consumer prices in the US increased just 2.9% in July compared to the previous year, the slowest mark in three years, according to the US Department of Labor. Kamala Harris has overtaken Donald Trump in odds to win the US presidential election on Polymarket: Harris's campaign has reached out to the crypto industry, but it's unclear where she stands on regulating digital assets. Three Arrows Capital’s liquidators have filed a $1.3 billion lawsuit agains

Bitcoin Rallies Back to $60K Despite Soft Economic Data & More Takeaways Bitcoin's value dropped below $50,000 early this week, marking its lowest point since mid-February: But prices quickly bounced back, briefly pushing near $60,000 on Thursday, as major indices regained their footing despite fears of a US recession. Amid global market turbulence, US spot Bitcoin ETFs saw $168.4 million in net outflows on Monday: Grayscale’s GBTC led the withdrawals, while macroeconomic issues and crypto-specific factors intensified the market selloff. Crypto coa

Fed Signals Possible Rate Cuts, but Crypto Markets Rattled Federal Reserve officials signaled the possibility of a September rate cut during their July meeting: But crypto prices pulled back after Iran pledged it would retaliate against Israel for assassinating Hamas leader Ismail Haniyeh on Iranian soil. Donald Trump expressed strong support for cryptocurrency at the Bitcoin Conference in Nashville: Trump pledged to set up a strategic bitcoin reserve, stop the US from selling its bitcoin, and fire SEC chair Gary Gensler if he gets re-elected.

Bitcoin Surges after Donald Trump Assassination Attempt Market Update - July 19, 2024 Bitcoin Rallied Amid Renewed Volatility Linked to Trump's Election Prospects Mt. Gox Moves SEED_TVCODER77_ETHBTCDATA:9B in Bitcoin Ahead of Creditor Repayments Investors Hedge Positions as US Spot ETH ETFs Near Launch Coinbase Shifts Strategy for Gary Gensler Subpoena Hong Kong to Release Stablecoin Consultation Results Bitcoin Rallied Amid Renewed Volatility Linked to Trump's Election Prospects Following an attempt on the life of Donald Trump on S

US Labor Market Cools and Inflation Pulls Back Takeaways US labor market and inflation showed signs of cooling in June: The unemployment rate rose to 4.1% and CPI, a core inflation measure, increased just 3.3% year-over-year. US House can’t override Biden veto: US lawmakers fell short of the two-thirds majority needed to overturn Biden’s veto of a Congressional resolution to overturn an SEC bulletin that puts additional pressure on firms that custody crypto assets. The Labour Party won a decisive victory in the UK general election

Spot Bitcoin ETFs Rebound Ahead of Spot Ether ETF Launch Crypto prices declined up to 7.5% to kick off week: The dip came as investors registered $150 million in liquidations, and the German government began unloading bitcoin it seized from a piracy site in 2013. Defunct bitcoin exchange Mt. Gox will start distributing repayments in bitcoin and bitcoin cash in July: The upcoming move marks significant progress in compensating creditors following its 2014 collapse. Tether ceased USDT minting on EOS and Algorand but will continue redemptions f

SEC Ends Ethereum 2.0 Investigation Bitcoin prices fell Monday as nearly $500 million in positions were liquidated: Long positions took the majority of the losses. Deutsche Telekom, parent company of T-Mobile, to join Bitcoin mining sector: The move could enhance network security but also increase competition among miners. Consensys says SEC has ended its Ethereum 2.0 investigation: The announcement confirmed that ETH sales are not securities transactions – marking a significant victory for the space. The Financial S

Slowing Inflation Data Brings Positive Price Action to Bitcoin The US CPI remained flat in May, beating forecasts and lifting bitcoin prices by nearly 4% on Wednesday: But bitcoin prices quickly retreated on Thursday as traders grappled with the possibility of just one rate cut by the Federal Reserve by the end of the year. Trump voices support for Bitcoin mining at Mar-a-Lago: President Biden’s campaign also consulted the crypto industry on his digital asset policy. Gensler confirms spot ether ETFs are coming soon: In a Senate Banking hearing on

US Spot BTC ETFs Garner $887m in Day, BTC approaches 72k BTC price approaches $72K: The price of bitcoin surged to nearly $72K on Wednesday after US spot bitcoin ETFs recorded their second highest single day of net inflows. President Biden vetoes a bipartisan resolution aiming to reverse an SEC rule on crypto custody services: The White House said the resolution would “jeopardize the well-being of consumers.” Robinhood buys exchange: Robinhood announced Thursday it has agreed to acquired Bitstamp, a European crypto exchange, for around $20