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Recent volatility in the bitcoin market has caused almost $40 million in BTC short liquidations, Coinglass data shows.Last week’s spot bitcoin ETF net outflow could have been caused by Genesis selling its GBTC shares, according to analysts.
Crypto investment products witnessed record outflows last week, with $942 million exiting funds globally, according to CoinShares.This represents the first weekly net outflows witnessed following a seven-week streak of inflows totaling $12.3 billion.
The investment bank has seen growing interest from hedge fund clients in crypto-related products, especially after the recent approval of spot bitcoin ETFs in the U.S., according to Bloomberg. Goldman Sachs has also been exploring investing in crypto bankruptcy claims.
Quick Take Elon Musk asked why Ethereum co-founder Vitalik Buterin left X. Buterin has been active on Farcaster, a crypto-centric Twitter-esque social media platform.
BTC price attempts to challenge overhead resistance as market observers hope for resumption of the Bitcoin ETF frenzy.
This week is shaping up to be another busy one for the U.S. macroeconomic calendar following the Federal Reserve’s predicted lack of rate adjustment last week.
- 07:19ORDI breaks through 40 US dollarsThe market shows that ORDI has broken through $40, currently reporting $40.36, with a 24-hour drop of 3.84%. The market fluctuates greatly, please manage your risk well.
- 07:17Bloomberg: Due to traders assessing whether the "Trump trade" is excessive, BTC's upward trend stagnates as it approaches $100,000According to an analysis by Bloomberg, Bitcoin's rise has stalled as it approaches $100,000, partly because traders are assessing whether the optimism brought about by Trump's support for cryptocurrencies has become excessive. Matt Maley, chief market strategist at Miller Tabak + Co., said that investors are worried that Bitcoin "now needs to take a break because it has basically tested the $100,000 level," and added that bullish sentiment around Bitcoin is "becoming extreme." In addition, while Trump promised more friendly regulation and pledged to establish a national bitcoin reserve, the implementation timeline and feasibility of the bitcoin reserve remain uncertain.
- 07:13Axie Infinity developer Sky Mavis will lay off 21% of its staffSky Mavis, the developer of Axie Infinity, will lay off 21% of its staff, according to a report by TechInAsia. This round of layoffs is expected to affect approximately 50 out of about 250 team members worldwide. Trung Nguyen, CEO and co-founder of Sky Mavis, stated that this decision has nothing to do with the company's budget or financial health. It is a strategic move that allows Sky Mavis to focus more and position itself for ultra-high growth in 2025 and beyond.
