The SEC noted that the court has recognized Ripple’s “willingness to push the boundaries” of the summary judgment order, indicating a likelihood of future violations.
On-chain data shows that short-term Bitcoin holders are currently holding the largest unrealized losses since the FTX implosion.
While five of the eleven approved Bitcoin ETFs saw positive inflows running into the millions, the remaining products experienced mixed results.
Despite recent inflows signaling renewed confidence in Bitcoin ETFs, Grayscale’s GBTC continues to struggle with significant outflows, highlighting ongoing investor hesitation.
Judge Analisa Torres stated that the case “does not involve allegations of fraud, misappropriation, or other more culpable conduct” by Ripple. The judge reduced penalty by 94% from the SEC’s demand of $2 billion.
The US-based spot Ethereum ETFs registered a total cash inflow of about $150 million led by BlackRock’s ETHA.
Despite these outflows, the overall net asset value (NAV) of Bitcoin spot ETFs remains substantial at $51.47 billion.
Despite major Bitcoin fund outflows, spot Ether ETFs saw a net inflow of $48.73 million, suggesting investors view Ether as a hedge or buying opportunity.
The recent Ethereum price crash to $2,197 has attracted significant attention from long-term buyers seeking to buy at discounted rates.
Stocks linked to cryptocurrency exchanges and technology investments have also taken serious hits as well.
More than $1 billion was liquidated from the crypto-leveraged market as Bitcoin price teased below $50K for the first time since February.
Popular Bitcoin critic Peter Schiff also predicts a major downfall in the Bitcoin ETF market on Monday. He expects a gap down of nearly 15-30% on Monday, as the US market goes live for trading.
According to some analysts and market observers, the Japanese market swung into a state of panic after the Bank of Japan announced its decision to raise interest rates.
Ethereum price has dropped below crucial support levels in the recent past, indicating further midterm weakness.
Bitcoin price could drop further in the coming weeks after several rejections around $70K, coupled with bearish divergence on the weekly RSI.