Day: July 18, 2024

Spot BTC ETF inflow plunged 87%, crypto market faces correction

The cryptocurrency market has witnessed a notable correction after a significant decrease in the Spot Bitcoin ETF inflows in the U.S. According to data provided by Farside Investors, spot Bitcoin (BTC) ETFs in the U.S. recorded $53.3 million in inflows on July 17, showing an 87% decrease from July 16. This is the lowest amount of net inflows for the investment products since July 5. Data shows that the iShares Bitcoin Trust (IBIT) alone saw $110.4 million in inflows. The Fidelity Wise Origin Bitcoin Fund (FBTC) also brought $2.8 million…

Here Are The Key Drivers of the Current Rally

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Bitcoin price has rallied above the $64,000 mark. Glassnode, a market intelligence platform, has analyzed this notable increase, which attributes the current price movement to a significant easing of sell-side pressure, particularly from the German government. Exhaustion of Sell-Side Pressure According to the on-chain data provided by Glassnode, the recent uptick in Bitcoin’s price is largely due to what they describe as the “complete exhaustion” of sell-side forces, particularly those stemming from the recent governmental actions. German government balance. | Source: Glassnode Over the past weeks, the German government has…

Polygon Sets September Date for Migration to POL Token from MATIC

Please note that our privacy policy, terms of use, cookies, and do not sell my personal information has been updated. CoinDesk is an award-winning media outlet that covers the cryptocurrency industry. Its journalists abide by a strict set of editorial policies. In November 2023, CoinDesk was acquired by the Bullish group, owner of Bullish, a regulated, digital assets exchange. The Bullish group is majority-owned by Block.one; both companies have interests in a variety of blockchain and digital asset businesses and significant holdings of digital assets, including bitcoin. CoinDesk operates as…

Crypto Exchange WazirX Sees $230M in Suspicious Withdrawals, Largely $100M in SHIB Token

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Please note that our privacy policy, terms of use, cookies, and do not sell my personal information has been updated. CoinDesk is an award-winning media outlet that covers the cryptocurrency industry. Its journalists abide by a strict set of editorial policies. In November 2023, CoinDesk was acquired by the Bullish group, owner of Bullish, a regulated, digital assets exchange. The Bullish group is majority-owned by Block.one; both companies have interests in a variety of blockchain and digital asset businesses and significant holdings of digital assets, including bitcoin. CoinDesk operates as…

Someone is Trying to Steal Mt. Gox Users’ Bitcoin (BTC) Amid Repayments

Please note that our privacy policy, terms of use, cookies, and do not sell my personal information has been updated. CoinDesk is an award-winning media outlet that covers the cryptocurrency industry. Its journalists abide by a strict set of editorial policies. In November 2023, CoinDesk was acquired by the Bullish group, owner of Bullish, a regulated, digital assets exchange. The Bullish group is majority-owned by Block.one; both companies have interests in a variety of blockchain and digital asset businesses and significant holdings of digital assets, including bitcoin. CoinDesk operates as…

FET Surges 12% Ahead Of ASI Token Merger Phase 2, Can It Hit $5?

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The now-rebranded Fetch.AI (FET) regained the $1.4 price range amid the market recovery and is currently testing the $1.5 resistance level. Over the weekend, the AI token saw a nearly 40% recovery and seems to be preparing for a breakout. Market watchers have predicted short and long-term targets for the token after the Artificial Superintelligence Alliance (ASI) token merger. FET Drops 23% Amid Market Retrace This month, the Artificial Superintelligence Alliance kicked off phase 1 of the ASI token merger process. The process began with rebranding Fetch.AI’s name and logo…

German Government Officially Acknowledges Involvement in 50,000 Bitcoin Sell-off

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The German government has officially acknowledged its involvement in selling 49,858 bitcoin linked to the movie2k case. In a press release, German authorities reported that the sales were completed due to what is stipulated in Section 111p of the Code of Criminal Procedure, classifying this move as an “emergency sale.” Bankhaus Scheich Wertpapierspezialist AG, the […] Original

Profit-Making Crypto Address Makes $16M Investment in BTC

“The assassination attempt on [Republican candidate Donald Trump] on July 13th had a dual impact on bitcoin prices. As a pro-crypto candidate, the increased odds of a Trump victory spurred a positive market reaction. Concurrently, the event heightened global instability, causing bitcoin, often seen as a risk-off asset, to surge by over 10%, with prices climbing above $63k,” Pedro Lapenta, head of research at Hashdex, said in an email. Source

Short sellers see $50 million liquidated as BTC, ETH surge

Bitcoin and Ethereum have seen more than $50 million in short liquidations in the past 24 hours, with these coming as prices surged to multi-week highs. Despite most of the liquidation volume coming from shorts, bullish bets also suffered, with over $58 million in long positions liquidated across the market. Early trading hours on Wednesday though saw the market rip higher, with Bitcoin (BTC) jumping from lows of $64k to above $66k on major exchanges. Ethereum (ETH) rose above $3,500. This price spike led to widespread liquidations, as data from…

Bitcoin Rally To This Mark Could Trigger $19 Billion Short Squeeze

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Over the past few days, Bitcoin has seen quite a notable rebound in its price, rising from as low as the $53,000 level last week to trading as high as above $66,000 in the early hours of Wednesday before now retracing to a current trading price of $64,433. This bullish price performance has been the downfall of approximately 50,436 traders in the crypto market today. Particularly, according to data from Coinglass, this number of traders has seen massive liquidations, bringing the current total liquidations to $145.58 million. Bitcoin traders felt…