Day: March 13, 2024

Bitcoin ETFs acquire more than mining supplies amid record $1.05b inflow

boss

On March 12, Bitcoin spot Exchange-Traded Funds (ETFs) witnessed a record-setting total net inflow of $1.05 billion. This marked the highest single-day net inflow since the initiation of the ETF, demonstrating a substantial increase of approximately 56% from the $673 million recorded on Feb. 28. Interestingly, one reason behind the significant inflow into Bitcoin ETFs could be their consistent performance, which has outpaced the newly mined supply of Bitcoin. According to SoSoValue data, on March 12, the total net inflow into Bitcoin spot ETFs reached $1.05 billion, setting a new…

QCP Capital Highlights Ether Price Pressure as ETH Holds Steady Above $4K Pre-Dencun Upgrade

Historically, network upgrades like Bitcoin’s Taproot and the Ethereum merge have had minimal impact on pricing under bearish and sideways market conditions, but with current market dynamics, there could be price reflexivity on Ethereum and its Layer 2s, potentially influenced by the already priced-in Dencun upgrade or a positive knee-jerk reaction, along with possible capital inflows into Layer 2 ecosystems, QCP analysts wrote in a Telegram interview with CoinDesk. Source

Bitcoin ETFs See Record $1 Billion Inflows, Price Hits News ATH

boss

Yesterday, the Bitcoin price journey resembled a high-intensity rollercoaster ride, initially soaring past the $73,000 mark before encountering a tumultuous liquidation event. This event saw over $361 million worth of leveraged trades unwound, compelling the BTC price to retract sharply to below $68,300. The drastic price fluctuation primarily affected long position holders—investors who speculated on a continued price rise—with a staggering $258 million wiped out. Subsequently, Bitcoin’s price staged a remarkable V-shaped recovery, during which short sellers found themselves on the losing end, with just over $103 million in positions…

Bitcoin’s rally above $73,000 persists despite swift plunge

boss

Bitcoin demonstrates ongoing momentum surging to a high of $73,887 without showing signs of exhaustion. The crypto market saw Bitcoin (BTC) break new ground, hitting an all-time high of $73,887 (on EXMO) before experiencing a rapid pullback as it briefly touched $74,000. This surge in volatility followed a record-breaking day, with net inflows totaling over $1 billion, according to data from BitMEX Research. [1/4] Bitcoin ETF Flow – 12 March 2024 All data in. Record day with over $1 billion of net inflow. Blackrock with a record $849 million of…

INJ hits new all-time high as whale activity doubles

Injective (INJ) has recorded impressive gains since December 2023 and recently touched a new all-time high (ATH). INJ is up by 15% in the past 24 hours and is trading at $48.8 at the time of writing. The asset reached a new ATH of $52.65 at 01:00 UTC on March 13 with a total market cap of $4.92 billion.  INJ price, RSI, exchange outflow and whale activity – March 13 | Source: Santiment Notably, it’s the second time in the past two weeks that INJ hit record highs as the…

OKX Joins Growing List of Exchanges with Singapore’s License

boss

The crypto exchange OKX has received in-principle approval from the Monetary Authority of Singapore (MAS) for a Major Payment Institution (MPI) license through its local subsidiary, OKX SG. This new authorization allows OKX to provide digital payment token services and cross-border transfers in Singapore, pending the full license from MAS. With the in-principle approval, OKX plans to focus on its spot product in Singapore and work on establishing local banking connections for its customers. As an MPI-licensed company, OKX will be able to facilitate multiple payment services exceeding the volume…