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Bitcoin-related funds saw outflows of $13 million over the past week, reversing five weeks of bullish inflows, according to Coinshares analyst James Butterfill.
Digital asset investment products recorded outflows last week for the first time since mid-June, CoinShares reported.
Regulatory uncertainty surrounding Binance, the largest crypto exchange, tends to weigh on crypto prices.
Worldcoin price soared to $3.58 shortly after launching but traders and crypto advocates have many concerns.
MKR looks primed to continue the rally given its recent buyback mechanism and two other key metrics that impact Maker’s price.
Bitcoin price is down today as investors expect the Federal Reserve to raise rates and crypto whales send record amounts of BTC to exchanges.
The latest price moves in crypto markets in context for July 24, 2023.
Bitcoin is at the pivotal 50-day SMA support, and a drop below this level could result in accelerated selling of BTC and altcoins.
One analyst pointed out the $27,000 level could be a short-term target for bitcoin amid the lack of positive news.
The balance kept in addresses that hold coins for at least 155 days has increased by $1.87 billion this month.
- 03:01Ethereum high win-rate swing trader buys 35.82 million US dollars WBTCAccording to on-chain analyst Yu Jing's monitoring, an Ethereum high win-rate swing trader bought 35.82 million US dollars of WBTC 7 hours ago at an average price of 97,751 US dollars.
- 03:00TaoFu Bank warns that the Bitcoin craze may distract gold investorsGeorge Milling-Stanley, head of gold strategy at DaoFu Bank, warns that the rise of Bitcoin could mislead investors into overlooking the stability of gold. He believes that Bitcoin is more like a return-driven investment, while gold provides long-term stability. He also criticizes Bitcoin promoters for misleading the market by using the term "mining", believing that gold remains a more reliable investment choice.
- 02:59This week, the net increase in Bitcoin spot ETF holdings was 26,861.87 BTC, with BlackRock's IBIT accounting for 72.3% of itDeribit's Head of Asia Pacific Business, Lin Chen, posted on X stating that the BTC ETF performed strongly this week, all in a net inflow state, with a total net inflow of 3.335 billion US dollars and a net increase of 26,861.87 BTC. Among them, BlackRock's IBIT continued to lead the increase, absorbing 19,972.17 BTC in a single week, accounting for 72.3% of the total increase. Except for Grayscale's slight outflows on Thursday and Friday, all other institutions maintained a net inflow. The analysis points out that this week's market sentiment is basically centered around MSTR's related narrative; currently the greed index is at 80 indicating strong purchasing power.
