Amid a faltering cryptocurrency market, spot Bitcoin exchange-traded funds (ETFs) based in the US had their largest day of net inflows in over a month. Net inflows for the 11 ETFs totaled $295 million as of July 8. The net inflows across all funds have been positive for the first
The cryptocurrency market has been grappling with bearish sentiment since late June, pushing Bitcoin to a five-month low below $54,000 and Ethereum to a two-month low under $2,820 last week. The global market cap dipped below $2 trillion, and many altcoins hit yearly lows with significant double-digit declines. In the
Bitfarms, a Bitcoin mining firm based in Canada, has named Ben Gagnon as its new chief executive officer (CEO) amidst ongoing rivalry with Riot Platforms, Ltd. Given Bitfarms’ present struggle for power with Riot Platforms, this leadership transition is very crucial. Starting today, Ben Gagnon, who had previously been Bitfarms’
In the last week, digital asset investment products saw inflows of $441 million, according to a new report from CoinShares. The report from July 8th also mentioned a $398 million influx into Bitcoin investment products. Investors’ purchasing sprees were likely caused by the lower Bitcoin prices, activity from Mt. Gox,
Publicly traded companies in Japan are steadily increasing their Bitcoin holdings each week. Metaplanet bought 42.47 Bitcoins worth approx 2.42 million USD, to take advantage of the current Bitcoin price drop. Coincidentally, the purchase of Bitcoin occurred earlier today, just as its price plummeted below $54,500. At the time of
Amid a challenging bearish market, Ethereum has recently approached a four-month low, dropping from $3,043.58 to $2,826.48 over the past 24 hours. However, there is a tentative recovery with a modest 2% increase noted at the time of writing. One of the most notable developments amid this volatility has been
Bitcoin (BTC), the largest cryptocurrency by market cap, has continued to display its dismal price trends ever since the start of July. Following BTC’s price dip, the global crypto market shed over a hundred billion dollars, returning it to $2.05 trillion. Notably, over the last 24 hours, Bitcoin formed a
Another contentious examination of Bitcoin (BTC) including the Exchange-traded Fund (ETF) has been produced by economist and proponent of gold, Peter Schiff. Schiff drew attention to the present trends in trading and the influx of Bitcoin ETFs. Stating that the “smart money” sells BTC on the spot market. Conversely, individuals
This week, the cryptocurrency market will be watching closely for important economic data and events that might influence the price of Bitcoin and other cryptocurrencies. Significantly, the last several weeks have been very unpredictable, with Bitcoin’s price seeing a precipitous decline last week. Bitcoin and altcoin euphoria seem to have
Bitcoin miner capitulation gauges are getting close to the market bottom after the FTX crisis in late 2022, suggesting a potential bottom for BTC, according to market intelligence company CryptoQuant. As a means of survival or “earn yield or hedge their Bitcoin exposure,” some miners may cut down on operations
