The latest price moves in bitcoin (BTC) and crypto markets in context for Sept. 10, 2024. First Mover is CoinDesk’s daily newsletter that contextualizes the latest actions in the crypto markets. Original
Spot Bitcoin exchange-traded funds in the United States saw inflows for the first day following eight consecutive days of outflows that shed over $1.18 billion from their total assets under management, signaling a potential shift in investor sentiment. According to data from SoSoValue, the 12 spot Bitcoin exchange-traded funds recorded $28.6 million in net inflows on Sep. 9, a break from the eight-day outflow streak recorded earlier. Fidelity’s FBTC led the charge with reported inflows of $28.6 million, bringing its total inflows from inception to $9.45 billion. This follows after…
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This week, traders will be eyeing the U.S. release of August’s Consumer Price Index (CPI) on Wednesday and Producer Price Index (PPI) on Thursday. Before then, on Tuesday, Donald Trump goes head to head with Kamala Harris in the first debate between the presidential candidates ahead of November’s election. Original
Outflows from U.S. spot Bitcoin ETFs, or exchange-traded funds, surpassed $706 million this week as bears pushed Bitcoin to $53,304 — its lowest level since Aug. 5. According to data from SoSoValue, the 12 spot Bitcoin ETFs logged $169.97 million in net outflows on Sep. 6, with Grayscale and Fidelity leading the pack. Fidelity’s FBTC shed $85.5 million, with the fund experiencing negative flows for the past seven trading days. Grayscale’s GBTC added to the exit liquidity, with $52.9 million leaving the fund, bringing total losses to over $20 billion…
Thursday’s trading session saw spot bitcoin exchange-traded funds (ETFs) experienced outflows totaling $211.15 million, while ethereum ETFs faced a much smaller decline of $152,720. $211 Million Exits Bitcoin ETFs, Ethereum Funds Slip by $152K On Sept. 5, bitcoin and ethereum ETFs both took hits, with bitcoin ETFs leading the way in outflows. According to data […] Original
Over time, the approval of crypto ETFs in the U.S. could represent a similar disruption in market structure as the one seen in gold. It could shift the narratives around BTC (store of value) and ETH (crypto tech play) closer to a traditional investment asset. In other words, ETF investors may be following different narratives and demand functions (say, portfolio rebalancing or disposable income) to crypto native investors, the same way as Asian central banks buy gold for different reasons than traditional investors. Source CryptoX Portal
On Sept. 4, 2024, the 12 U.S. spot bitcoin exchange-traded funds (ETFs) saw $37.29 million in outflows, while their ethereum counterparts, the nine spot ether ETFs, experienced roughly $37.51 million in reductions. Grayscale’s GBTC and ETHE Lead Withdrawals Both bitcoin and ethereum ETFs saw money flowing out on Wednesday, with nearly identical divestments. According to […] Original
Data tracked by Wintermute show bitcoin futures now account for 48% of the total notional open interest in the crypto futures market, while alternative cryptocurrencies, including ether, account for the rest. In March, when optimism was at its peak, bitcoin represented just 31% of the global open interest. Original
Spot Bitcoin and Ethereum exchange-traded funds in the United States continue their streak with a second consecutive day of joint outflows this week. According to data from SoSoValue, the 12 spot Bitcoin ETFs recorded $37.29 million in net outflows on Sep. 4, marking the sixth consecutive day of outflows. Notably, the outflows from these ETFs were 87% lower than the $287.78 million outflows experienced the previous day—their highest outflows since May 1. Grayscale’s GBTC led the lot with $34.2 million leaving the fund, pushing its total outflows to date to…