The disappointments from several US states rejecting strategic Bitcoin reserves sent shockwaves to the entire crypto market, with the US spot BTC ETFs bleeding profusely.
With more pro-crypto policy shifts in the market, Citadel Securities is making move to enter the industry.
The company’s total Bitcoin stash now stands at 499,096 BTC, acquired at an average price of $66,357 per coin, bringing its total valuation to around $33.1 billion.
Bitcoin faced heavy selling pressure with outflows reaching $571 million. A portion of investors even bet against the flagship cryptocurrency, pouring $2.8 million into short-Bitcoin positions.
The US spot Bitcoin ETFs registered the second consecutive week of cash outflow amid low volatility and a Gold price surge.
Bybit exchange has purchased over 100K Ethereum units over the weekend, but the supply of Ether on CEXes has increased in the past few days amid notable fear of further capitulation.
From Bitcoin’s price recovery near $100K to groundbreaking developments in ETF transparency and significant market events, the crypto landscape continues to evolve with notable shifts in industry dynamics.
Despite recent market volatility, experts remain optimistic about Bitcoin’s future. Let’s take a closer look at what analysts say about BTC price and its potential movements.
Bybit experiences a devastating $1.46 billion ETH security breach, with industry leaders including Binance’s CZ stepping in to offer support and guidance on preventing further losses.
Bybit CEO Ben Zhou reassured users, stating that even if the stolen funds are not recovered, Bybit can cover the losses.
In a significant development for the crypto industry, the SEC plans to fully dismiss its 18-month litigation against Coinbase, with no fines or operational changes required from the exchange.
Bitcoin ETF products have now crossed the $750 billion in volume generated.
Pi Network (PI) price crashed more than 60% in the past 24 hours after warnings from Bybit CEO Ben Zhou and Chinese authorities.
On-chain data analysis shows that Bitcoin transactions greater than $100K increased from around 6.5K on Monday to about 10K on Friday.
The controversy around Pi Network deepens as Bybit’s CEO reinforces his position against listing the token, citing fraud concerns and sharing official warnings.