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Global cryptocurrency exchange-traded products (ETPs) saw $2.9 billion in outflows last week led by Bitcoin, totaling over $3.8 billion across three weeks.
Binance announced plans to delist all non-MiCA compliant stablecoins for European Economic Area users by March 31, 2025, directing customers to switch to compliant alternatives like USDC and EURI.
Bitcoin surged 8% on Monday, fueled by Trump’s crypto reserve announcement, with analysts viewing it as a good buying opportunity.
Bybit’s Ethereum cold wallet was compromised on February 21, resulting in a $1.46 billion theft linked to North Korea’s state-sponsored Lazarus Group, adding to their multibillion-dollar crypto crime spree.
Despite Bitcoin’s recent volatility, institutional confidence remains strong with Standard Chartered projecting a $500K target. Meanwhile, North Korean hackers executed the largest crypto theft in history and the SEC ended its Uniswap investigation.
March brings Ethereum’s Pectra upgrade to Sepolia testnet, Humans.ai’s H1uman launch, major crypto conferences in Europe, and significant token unlocks that could influence market dynamics.
FBI officially attributes February’s record-breaking $1.5 billion Bybit cryptocurrency hack to North Korean state-sponsored hackers who used sophisticated deception techniques targeting cold storage.
According to an industry expert Peter Chung, these outflows may have been caused by the unwinding of basis trades by institutional investors.
Analysts have highlighted a Bitcoin top-formation pattern similar to 2021, suggesting the possibility of an additional 10-20% correction from current levels.
Arthur Hayes warned about a potential decline to $70,000 for Bitcoin as large-scale ETF outflows could accelerate the downtrend.
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.