US Bitcoin ETFs See $66 Million Inflows, Fidelity Leads Pack
With spot Bitcoin ETF purchases slowing down considerably, and even dipping into negative territory on some days, macroeconomic catalysts have gained increased significance recently.
With spot Bitcoin ETF purchases slowing down considerably, and even dipping into negative territory on some days, macroeconomic catalysts have gained increased significance recently.
The GameStop rally triggered a massive surge in the meme coin market with DOGE and SHIB gaining 10%, and other meme coins jumping by 34%.
The United States recorded the highest crypto investment inflows, totaling $135 million.
Bitcoin’s daily trading volumes surge by 76% in the last 24 hours just a day before the US reports PPI and CPI inflation numbers. Any positive development could lead to a breakout above $64,000.
Amidst the recent market downturn, which resulted in over $130 million being liquidated, the crypto market’s current market capitalization is approximately $2.26 trillion.
The open interest (OI) for Bitcoin call options is twice the open interest for the put options, indicating an overall bullish sentiment.
The controversy highlights some of the challenges faced by the crypto industry; establishing and maintaining the trust of investors and market participants.
Earlier this week, GBTC recorded daily net inflow after a very long time of constantly seeing outflows.
Despite Grayscale GBTC holding the largest BTC reserves, the BlackRock Bitcoin ETF IBIT remains the top choice of institutions.
This newly developed exchange will allow customers to trade directly from it rather than using the Revolut app, thereby enjoying lower fees.
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