As we enter July 2024, the cryptocurrency market is recovering from a volatile June, during which Bitcoin, the largest cryptocurrency by market capitalization, experienced a significant decline. Known for its volatility, Bitcoin’s recent performance has left investors and analysts questioning whether July will bring the stability the crypto market desperately needs. A Turbulent June June…
A recent report by investment firm Bernstein signals a significant shift in the cryptocurrency landscape, with Bitcoin (BTC) and crypto-linked stocks poised for a major wave of institutional adoption. This article delves into Bernstein’s insights, exploring the potential ramifications for the future of Bitcoin and the cryptocurrency market. Debunking the Bearish Narrative Contrary to skeptics’…
Samara Cohen, BlackRock’s chief investment officer for index investments, has noted that financial advisors remain cautious about spot Bitcoin exchange-traded funds (ETFs) despite their recent success. Cohen attributes this caution to the inherent volatility and the relatively nascent stage of Bitcoin and its ETFs. Spot Bitcoin ETFs’ Success Since their debut in January 2024, spot…
Bitcoin’s price plummeted to a one-month low, declining from $67,000 to $64,500 after three consecutive days of outflows from its spot exchange-traded funds (ETFs). This downturn also affected other major cryptocurrencies, including Ethereum, Solana, and Toncoin, each experiencing a drop of over 3%. Token Unlocks Contribute to Downward Pressure Markus Thielen, founder of 10x Research,…
Investors in Bitcoin ETFs are selling their shares for the second day in a row, likely due to upcoming economic reports that could impact the market. According to data, these spot Bitcoin ETFs listed in the US saw a net outflow of $200 million on Tuesday. This is the highest outflow since early May, when…
U.S. inflation showed signs of cooling in May, with the Consumer Price Index (CPI) coming in flat compared to forecasts of a slight increase. This positive news sent shockwaves through the cryptocurrency market, particularly Bitcoin (BTC), which jumped nearly 4% to $69,400 in the last day. Inflation Eases, Rate Cut Hopes Rekindled: The lower-than-expected inflation…
Investors in U.S.-listed spot Bitcoin ETFs pulled out a combined $65 million on Monday, ending a record 19-day streak of inflows, according to data. This shift comes amidst a broader market downturn and key economic events on the horizon. Grayscale’s GBTC led the outflows with $40 million, continuing its trend as the worst performer since…
Bitcoin prices bounced back on Tuesday afternoon, reaching $67,300 after dipping to $66,177 earlier in the day. This marked the first time this month that Bitcoin fell below $67,000 and its lowest point since mid-May, according to CoinDesk data. Despite the rebound, Bitcoin remains more than 3% lower compared to its high of $69,711 from…