Lưu trữ cho từ khóa: bitcoin spot ETF

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Bitcoin whale selloff stopped as price surpasses $68k

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Bitcoin whale selloff stopped as price surpasses $68k

On-chain data shows a significant decline in the Bitcoin large holder outflows as the flagship cryptocurrency remains above the $68,000 mark.

According to data provided by IntoTheBlock, the Bitcoin (BTC) whale net flow shifted from an outflow of 1,650 BTC on Oct. 17 to a net inflow of 211 BTC on Oct. 19. The momentum shows increased accumulation from large holders.

BTC price and large holder net flows – Oct. 20 | Source: IntoTheBlock

CryptoQuant CEO Ki Young Ju confirmed the intensified accumulation.

Per a crypto.news report, data provided by Young Ju shows that new whale addresses, with at least 1,000 BTC, held over 1.97 million coins yesterday—showing an 813% surge since the start of the year.

One of the key drivers behind Bitcoin’s bullish momentum is the increased investor interest in the U.S.-based spot BTC exchange-traded funds.

According to the report, these investment products saw an inflow of $2.1 billion last week—the total net inflows surpassed the $21 billion mark.

Moreover, data from ITB shows that the Bitcoin exchange net flows remained in the negative zone for the third consecutive day, recording a net outflow of over 2,300 BTC, worth $157 million, on Oct. 19.

Increasing exchange outflows usually hint at a lower selling pressure. However, short-term profit-taking would still be expected since the BTC price is close to its all-time high of $73,750.

Bitcoin has been consolidating between $68,000 and $68,600 over the past 24 hours. Its market cap is sitting at $1.35 trillion with a daily trading volume of $13.8 billion — down by 55%.

A declining trading volume could potentially bring lower price volatility for the leading asset.

Tổng hợp và chỉnh sửa: ThS Phạm Mạnh Cường
Theo Crypto News

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Bitcoin holding strong at $67k amid solid ETF inflows

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Bitcoin’s surge above the $67,000 mark came along with solid spot exchange-traded fund inflows and increased short liquidations.

Bitcoin (BTC) is up 2% in the past 24 hours and is trading around $67,000 at the time of writing. Yesterday, Oct. 15, the flagship crypto asset surpassed $67,500 and even got close to the $68,000 zone, marking a two-month-high.

BTC price – Oct. 16 | Source: crypto.news

BTC’s market cap is currently hovering at $1.32 trillion with a daily trading volume of almost $50 billion. It’s rising trading volume shows increased interest from short-term holders and traders, potentially increasing Bitcoin’s price volatility.

The market-wide surge came as the U.S.-based spot BTC ETFs registered three consecutive trading days of inflows. These investment products closed last week with $253.6 million and started this week with $555.9 million in net inflows, respectively.

According to data provided by Farside Investors, spot BTC ETFs saw $371 million in net inflows, led by BlackRock’s IBIT ETF’s $288.8 million inflow, on Tuesday, Oct. 15.

Fidelity’s FBTC, Ark Invest’s ARKB and Grayscale’s mini BTC Trust assisted with $35 million, $14.7 million and $13.4 million in inflows, respectively. 

Grayscale’s GBTC, VanEck’s HODL, WisdomTree’s BTCW and Bitwise’s BITB also joined the list with $8 million, $7.6 million, $2.8 million and $0.7 million in inflows, per Farside Investors’ data.

At this point, spot BTC ETFs have recorded $19.8 billion in net inflows since their launch in January.

The U.S.-based spot Ethereum (ETH) ETFs, on the other hand, witnessed $12.7 million in net outflows amid mixed demand signals from investors. Grayscale’s ETHE fund saw $15.3 million in outflows while Fidelity’s FETH recorded $2.6 million in inflows. 

The remaining ETH investment products stayed neutral.

It’s important to note that Bitcoin and altcoin prices are experiencing high volatility due to increased liquidations and short-term profit-taking.

Tổng hợp và chỉnh sửa: ThS Phạm Mạnh Cường
Theo Crypto News

Phân tích

Spot BTC ETF outflows touch 4-month highs, price falls below $57k

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Spot Bitcoin exchange-traded funds in the United States witnessed a four-month-high net outflow on Tuesday, Aug. 3.

According to data provided by Farside Investors, the U.S.-based spot Bitcoin (BTC) ETFs saw $287.8 million in net outflows yesterday, continuing their five-day downward momentum. This amount of outflows has not been seen since May 1. 

Data shows that most of the outflows came from Fidelity’s FBTC and Grayscale’s GBTC funds, worth $162.3 million and $50.4 million, respectively. 

Moreover, the ARK 21Shares ARKB and Bitwise’s BITB ETFs also recorded $33.6 million and $25 million in outflows, per Farside Investors. EZBC, HODL, BRRR and BTCO funds joined the bearish momentum with $8.4 million, $3.3 million, $2.5 million and $2.3 million in outflows, respectively.

The largest spot BTC fund with over $20.9 billion in total inflows, BlackRock’s iShares Bitcoin Trust ETF, remained neutral along with BTCW and Grayscale’s mini BTC fund.

Bitcoin dropped 4.6% in the past 24 hours and is trading at $56,330 at the time of writing. The leading cryptocurrency briefly touched a one-month low of $55,670 earlier today. 

BTC price – Sept. 4 | Source: crypto.news

Spot Ethereum (ETH) ETFs also remained bearish with a net outflow of $47.4 million on Aug. 3, according to Farside Investors. Grayscale’s ETHE saw $52.3 million in outflows while Fidelity’s FETH recorded $4.9 million in inflows.

The remaining spot ETH funds stayed neutral.

Ethereum’s price also declined by 5.5% over the past day and is changing hands at $2,370 at the time of writing. 

Tổng hợp và chỉnh sửa: ThS Phạm Mạnh Cường
Theo Crypto News

Bitcoin

Analyst: Morgan Stanley’s Bitcoin ETFs are ‘last taboo’ to adoption

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Morgan Stanley, the largest wealth management firm in the U.S., has authorized its 15,000 financial advisors to recommend Bitcoin exchange-traded funds to select clients.

As of Aug. 7, advisors can now offer BlackRock’s iShares Bitcoin Trust and Fidelity’s Wise Origin Bitcoin Fund to clients with a net worth of at least $1.5 million and a high-risk tolerance.

As one expert noted, this decision could drive more widespread adoption of Bitcoin (BTC) in the coming months. 

“This is the last taboo…with Morgan Stanley giving their wealth advisors the greenlight to allocate to Bitcoin ETFs it’s just a matter of time before it gains traction,” said CNBC reporters in reference to the new influx of advisor funds. 

The move shows increasing acceptance of crypto by major financial institutions, signaling the potential for broader integration into traditional portfolios.

Bitcoin ETFs

Morgan Stanley’s decision reflects growing client demand for digital assets despite the ongoing skepticism from other major financial institutions like Goldman Sachs and JPMorgan, which restrict their advisors from proactively offering Bitcoin ETFs.

While Morgan Stanley is taking a cautious approach, allowing only specific clients access to these ETFs, experts believe this could pave the way for broader adoption. 

The SEC’s recent approval of 11 spot Bitcoin ETFs could mark the beginning of a new phase in Bitcoin’s integration into traditional investment portfolios.

Tổng hợp và chỉnh sửa: ThS Phạm Mạnh Cường
Theo Crypto News

Bitcoin

Bitcoin breaks $70k after Trump’s Nashville remarks

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Bitcoin reached a two-month high as bullish sentiment engulfed the cryptocurrency, and capital market linkage suggested a bigger appetite for risk assets.

Bitcoin (BTC) touched $70,000 on July 27 for the first time since mid-May. The asset posted gains along with the broader cryptocurrency market, which was up over 2.6% and showing signs of a steady market uptrend. 

Since last week, investors have tabled demands for Bitcoin and other digital assets as bearish momentum subsided. According to CoinShares, BTC products received $519 million in capital between July 22 and July 26. Bitcoin’s inflows for this month have surpassed $3.6 billion, primarily driven by U.S. spot BTC exchange-traded funds. This comes despite a staggered start to the month. 

July has historically been a positive month for BTC, and this year is no different. BTC has jumped over 15% in the last 30 days and boasts more than $19 billion in year-to-date inflows, a new record. 

24-hour BTC chart on July 29 | Source: crypto.news

Bitcoin rally or another fake out?

Still, there are questions over whether this is a sustained rally or another modest market rebound. Bitget Research chief analyst Ryan Lee said market sentiment is relatively optimistic due to remarks from former President Donald Trump and Senator Cynthia Lummis. 

Trump and Lummis individually announced plans to create a national strategic BTC reserve. Lummis proposed that the U.S. Treasury purchase an additional one million BTC, and Trump promised to halt all government Bitcoin liquation. 

Lee noted that U.S. capital market linkage may also allow BTC to attract even more investor demand. Seven major U.S. tech giants are scheduled to release financial reports this week.

Positive data could buoy the Nasdaq’s weekly numbers and direct capital to assets like BTC. Lee added that widely anticipated dovish remarks from the Federal Reserve this week could bolster BTC’s bullish thesis.

Meanwhile, on-chain showed that BTC balances on crypto exchanges increased by some 35,000 tokens. The coins were deposited within a two-week period between July 15 and July 28. Users usually, despite BTC on trading platforms with intentions to sell.

Roughly $2.4 billion in BTC deposited on exchanges could induce sell pressure on the asset. It’s unclear if this number includes Mt. Gox repayments, another event that might stress BTC’s market price and stagger a possible rally back above all-time highs.

Tổng hợp và chỉnh sửa: ThS Phạm Mạnh Cường
Theo Crypto News

Bitcoin

Peter Schiff preaches Bitcoin FUD: here’s why he is wrong

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Bitcoin’s post-halving consolidation has prompted cynical rhetoric from popular crypto naysayer Peter Schiff.

Bitcoin (BTC) skeptic Peter Schiff suggested that the value proposition driving spot BTC ETF demand might quickly fade, contradicting expert predictions and market performance so far. BTC has grown over 55% year-to-date (YTD), but Schiff noted that the token has traded sideways for over three months and posted minuscule gains for spot Bitcoin ETF investors. 

BTC price movement in the last three months | Source: IntoTheBlock

Spot exchange-traded funds track the price of an underlying asset. In this case, the asset is BTC, and profits are tied to increments in the cryptocurrency’s price. 

Schiff’s statement about BTC’s sideways price patterns may be true, but the assertion perhaps lacks context. Bitcoin has surged nearly 70% since the U.S. Securities and Exchange Commission (SEC) approved spot BTC ETFs. 

Additionally, BTC’s multi-week consolidation is not new following a halving. The asset transitioned from an accumulation phase into a parabolic run during the last two cycles at least.

BTC post-halving progression | Source: IntoTheBlock

Growing institutional Bitcoin demand

BlackRock and Fidelity’s respective spot BTC ETFs made the best debuts in over 30 years on Wall Street. Within weeks, both funds amassed over billion in assets under management (AUM). Despite billions in demand, Schiff scrutinized Bitcoin’s bullish thesis and price progression. “ If ETF investors have been buying, who has been selling, and why?”

Meanwhile, Bloomberg’s ETF expert Eric Balchunas has repeatedly spoken about capital flows from futures ETFs into spot BTC funds. The halving’s change in dynamics also saw some sell-offs from crypto miners to maintain cash reserves.

However, on-chain data showed that Bitcoin balances on centralized exchanges hit a four-year low, meaning that spot holders are not selling but rather holding on for dear life, commonly known as “hodling” in the digital asset industry. 

Schiff surmised that ETF buyers could become tired of waiting and start liquidating shares as the asset continues in a consolidation range. While the scenario remains a possibility, growing institutional demand suggests otherwise.

Entities like the Wisconsin Investment Board have parked hundreds of millions into spot BTC ETFs, likely with a long-term view on the asset considering its growth over the years. 

BTC jumped over 145% in the past year. In comparison, the S&P 500 has returned 85% in the last five years, bolstering the reward argument for investing in the top cryptocurrency by market cap. Furthermore, IntoTheBlock data showed that over 80% of BTC buyers are in profits.

BTC profit data | Source: IntoTheBlock

Balchunas and other experts also opined that major institutions have yet to enter the spot BTC ETF scene. Yet, the market is over billion strong and growing. As crypto adoption rapidly increases and analysts expect the global ETF market to nearly triple by 2035 to a trillion market, the bullish thesis behind Bitcoin’s ascent is arguably stronger than ever.

Tổng hợp và chỉnh sửa: ThS Phạm Mạnh Cường
Theo Crypto News

Tin tức

Chấp thuận Bitcoin Spot ETF của BlackRock sắp diễn ra thúc đẩy sự lạc quan của thị trường

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Bitcoin BTC đã chứng kiến mức tăng ấn tượng 11,5%, đạt mức 35.000 USD, với giao dịch tiền mã hoá ở mức 34.240 USD vào sáng thứ Ba tại London. Điều này đánh dấu mức phục hồi 109% tính đến thời điểm hiện tại sau đợt sụt giảm thị trường năm 2022. Thúc đẩy sự lạc quan này là sự mong đợi về quỹ ETF Bitcoin giao ngay (ETF Spot) đầu tiên của Hoa Kỳ, với các gã khổng lồ quản lý tài sản BlackRock BLK và Fidelity Investments đi đầu.

Tòa phúc thẩm liên bang của Hoa Kỳ gần đây đã chính thức công nhận chiến thắng cho Grayscale Investments trong nỗ lực tung ra một quỹ ETF Bitcoin giao ngay, bất chấp sự phản đối của Ủy ban Chứng khoán và Giao dịch Hoa Kỳ SEC. SEC trước đây rất thận trọng khi cho phép các quỹ ETF đầu tư trực tiếp vào Bitcoin, với lý do lo ngại như thao túng thị trường và gian lận. Tuy nhiên, các nhà phân tích tin rằng phán quyết của tòa án, cùng với sự áp dụng mạnh mẽ từ các nhà lãnh đạo trong ngành, cuối cùng có thể khiến SEC lay chuyển.

Eric Balchunas, nhà phân tích của Bloomberg Intelligence ETF, đã nói trên X—nền tảng từng được gọi là Twitter—để thông báo rằng iShares Bitcoin Trust của BlackRock đã được niêm yết trên Depository Trust and Clearing Corp với mã IBTC. Balchunas nói: “Đây gần như là việc kiểm tra mọi điều kiện mà bạn cần hoàn tất trước khi khởi động một quỹ ETF suốt”.

Tuần trước, Bitcoin cũng chứng kiến mức tăng 10% trong ngày do có tin giả của CoinTelegragph rằng BlackRock đã nhận được sự chấp thuận cho quỹ ETF của mình.

Bất chấp những tiến bộ này, SEC vẫn duy trì lập trường thận trọng đối với Bitcoin. SEC cũng đã phê duyệt các công cụ tài chính như quỹ ETF tương lai Bitcoin (Future ETF). Tuy nhiên, các nhà phản đối cho rằng những công cụ này không mang lại khả năng tiếp xúc trực tiếp với Bitcoin như một quỹ ETF giao ngay.

Cathy Wood tin rằng SEC có thể sẽ phê duyệt đồng thời tất cả các quỹ ETF bitcoin giao ngay khi cơ quan này cuối cùng đã cho phép. Hành động này có thể mang lại sự rõ ràng rất cần thiết cho hàng loạt các quy tắc và quy định hiện có.

Quỹ ETF bitcoin giao ngay iShares của BlackRock, được niêm yết trên DTCC và sẵn sàng ra mắt trên Nasdaq, được nhiều người xem là dấu hiệu cho thấy sự chấp thuận của SEC sắp đến gần. Nếu điều này xảy ra, đây không chỉ là một chiến thắng cho BlackRock mà còn có khả năng mở ra một kỷ nguyên mới cho các lựa chọn đầu tư Bitcoin. Đây có thể là một phần lý do dẫn đến Bitcoin tăng giá 35.000$ trong ngày hôm nay.

Theo Forbes