The negative shift suggests a weakening demand for Bitcoin in the US, coinciding with slowed inflows into spot ETFs and a record outflow from Grayscale’s ETF.
Japan’s Government Pension Investment Fund (GPIF) seeks to diversify its investment portfolio to deal with major changes in the global economy and society.
Big market players continue to remain bullish on Bitcoin, while the world’s largest crypto faces strong selling pressure a day before the FOMC meeting.
Butterfill stated that since the launch of spot Bitcoin ETFs in the US, the average daily demand for Bitcoin has increased to 4500 on trading days, while only approximately 921 new Bitcoin are produced each day.
The initiative potentially holds the power to unlock a myriad of possibilities by merging the capabilities of blockchain technology with that of AI.
Looking ahead to 2025, Standard Chartered predicted that the ETH-BTC price ratio will return to levels seen in 2021-2022, potentially reaching 7%.
As we are just 3-4 weeks away from Bitcoin halving, BTC price has reportedly entered a danger zone where investors need to be cautious of the upcoming volatility.
Experts believe that with the potential of spot Bitcoin ETFs, this market cap difference might be bridged in the coming decade.
Stifel has reinstated coverage of Michael Novogratz’s crypto financial services firm with a buy rating and potential 45% gains from the current levels.
So far, 56 transactions have been sent to El Salvador’s new wallet address, with a large amount being small value transfers.
The recent decline in Bitcoin’s value may be partly attributed to traders’ growing interest in speculative memecoins that offer limited liquidity.
While the 2023 recovery brought some optimism for cryptocurrencies, they still face significant challenges.
Mow’s optimistic view of Bitcoin’s future is based on several factors that are synchronizing with the cryptocurrency industry.
MicroStrategy has made it clear that the proceeds from this offering, along with the previous $800 million raise, will be used to acquire additional Bitcoin and for general corporate purposes.
JPM Securities emphasized that flows are most likely to increase significantly as ETF approval marks the start of a longer process of capital allocation.