Day: September 19, 2024

Spot Bitcoin ETFs see $52.7m outflows led by ARK 21Shares

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Spot Bitcoin exchange-traded funds in the U.S. logged net outflows of $52.83 million on Sept. 18, ending four consecutive days of net inflows that drew in over $500 million. According to data from SoSoValue, the outflows from these ETFs were led by ARK 21Shares’s ARKB which saw $43.4 million exit its fund. Grayscale’s GBTC and Bitwise’s BITB reported additional outflows of $8.1 million and $3.9 million respectively. Grayscale Bitcoin Mini Trust was the only spot BTC fund to experience inflows on the day, bringing in $2.7 million. The remaining eight…

FBI Cracks Down on Illegal Gambling Network Using Fake Crypto

A Denver resident has been convicted of running an illegal gambling business involving several parlors across Colorado. The scheme involved electronic games and a fake cryptocurrency to conceal the exchange of credits for cash, revealing fraud and money laundering. The only function of this crypto “was to be exchanged for cash at an ATM-like ‘cryptocurrency […] Source BitcoincryptoexchangeExchanges CryptoX Portal

Will Bitcoin Bullish Swing Continue? Top Analyst Says Yes

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Este artículo también está disponible en español. An analyst has explained how Bitcoin will likely continue the latest bullish swing, at least in the short-term. Bitcoin Spot Exchange Supply Has Been On The Decline Recently In a new post on X, analyst Willy Woo has discussed the short-term and medium-term trajectories that BTC could follow. For the former, the analyst says the bullish trend would continue, with “likely 1 week left in play.” Related Reading In the medium term, things appear to be more complicated, as Woo has pointed out…

Bitcoin surges past $62K following FOMC’s 50bp rate cut

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Bitcoin rallied past the $62,000 mark following the U.S. Federal Reserve’s decision to slash borrowing rates, marking the first cut in four years. The U.S. Federal Reserve cut its benchmark federal funds rate by 50 basis points to 4.75%-5% on Sept. 18, ending an aggressive rate-hiking cycle that has dominated the last year. The central bank expressed increased confidence in achieving sustainable inflation near the 2% target and stated that the risks to its employment and inflation objectives are now more balanced, according to a recent press release. This rate…

$200m in crypto liquidated following 50bps Fed rate cut

The cryptocurrency market witnessed an impressive bullish momentum after the long-awaited rate cut by the U.S. Federal Reserve, bringing increased liquidations. According to data provided by Coinglass, the total crypto liquidations surged by 46% over the past day, reaching almost $200 million. Most of the liquidated positions, worth $126 million, are shorts due to the market-wide bullish movements. Crypto liquidations map – Sept. 19 | Source: Coinglass Bitcoin (BTC) is leading the chart with $75 million in liquidations following a 2.9% price hike. BTC is currently trading around the $62,000…

Bitcoin Exchange On The Horizon For Europe’s 3rd Biggest Stock Exchange

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Este artículo también está disponible en español. According to the Financial Times, the Swiss stock exchange SIX, the third largest in Europe, is exploring the possibility of launching a new Bitcoin and crypto exchange in the country, aiming to position itself to compete with exchanges like Binance, OKX and Coinbase.  SIX Group Plans New Bitcoin Trading Venue Bjørn Sibbern, Global Head of Exchanges at SIX Group, highlighted the potential for creating a platform to facilitate trading in spot cryptocurrencies and derivatives, noting that crypto has become a globally recognized asset…