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2024-08-03 08:11:11

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2024-08-03 08:11:00

Bitcoin, Ethereum ETF Weekly Recap: Substantial Outflows Amid Pessimistic US Economy Outlook
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The second week of trading for spot Ethereum ETFs saw more withdrawals than inflows, driven by uncertainty in the US economy. Spot Bitcoin ETFs also experienced outflows, with nearly $240 million leaving the financial vehicles. Fidelity's FBTC had the biggest daily outflows, with over $104 million withdrawn. Ark Invest's ARKB and Grayscale's GBTC also saw significant outflows. BlackRock's IBIT was the only ETF with inflows. Grayscale's ETHE led the spot Ethereum ETFs in outflows. Weak job report in the US and rising unemployment rates contributed to the negative market sentiment. BTC and altcoins experienced price plunges. Wall Street and the crypto market both saw declines. The weak economic data affected riskier assets. The Federal Reserve is expected to cut interest rates in September.
#BitcoinEtf #EthereumEtf #UnitedStates
https://cryptopotato.com/bitcoin-ethereum-etf-weekly-recap-substantial-outflows-amid-pessimistic-us-economy-outlook/

2024-06-17 07:10:12

Three Reasons Why Altcoins Are Suffering and When They Will Recover
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Altcoins are currently experiencing a bear market, with many falling to lows. The reasons behind this drop include uncertainty around Ethereum exchange-traded funds (ETFs) and high inflation in the US. Altcoins tend to perform well during periods of quantitative easing and low interest rates. Bitcoin dominance is also a factor, with BTC dominance currently at 55.4%. It is expected that the rotation will happen once the Ethereum ETF is listed. Altcoins have historically peaked around 546 days post-halving. The total market cap remains flat at $2.54 trillion, with most altcoins continuing to decline.
#Altcoins #Bitcoin #Ethereum #Cryptocurrency #MarketAnalysis
https://cryptopotato.com/three-reasons-why-altcoins-are-suffering-and-when-they-will-recover/

2024-04-21 22:58:52

Here's How Much Crypto Hong Kong's Web3 Giant Animoca Brands Holds on Balance Sheet
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Animoca Brands reported $558 million in digital assets on its balance sheet, including $291 million in cash and stablecoins. Since December 2023, the company has acquired an additional $266 million in digital assets through investments and token launches. Off the balance sheet, Animoca Brands' Web3 subsidiaries hold token reserves totaling around $1.8 billion. The company's approximately 400 minority investments in Web3 companies are not included in these figures as their valuation process is ongoing. Animoca Brands' metaverse fund, Animoca Capital, had its target reduced from $2 billion to $800 million amid crypto volatility in March. The fund faced a 60% reduction from its original target. The company is well-positioned to capitalize on the market rebound and the strengthening Web3 gaming sector.
#AnimocaBrands #CryptoHoldings #BalanceSheet #DigitalAssets #Cash #Stablecoins #Web3 #TokenReserves #MinorityInvestments #AnimocaCapital #MetaverseFund #CryptoVolatility #MarketRebound #Web3GamingSector
https://cryptopotato.com/heres-how-much-crypto-hong-kongs-web3-giant-animoca-brands-holds-on-balance-sheet/

2024-04-16 22:49:16

Bloomberg Analyst Issues a Warning for the Upcoming Hong Kong Bitcoin, Ethereum ETFs
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Bloomberg ETF analyst Eric Balchunas predicts that the Hong Kong Bitcoin and Ether ETF market may generate $500 million in inflows, which is small compared to the over $15 billion from BlackRock’s spot Bitcoin ETF product alone in the United States. The Hong Kong Securities and Futures Commission (SFC) recently approved spot Bitcoin and Ethereum ETF products from China Asset Management, Harvest Global Investments, and Bosera Asset Management in partnership with HashKey Capital. Balchunas believes that the absence of major players in the Hong Kong ETF market and the possibility of high fees could hinder demand for the products. The Hong Kong spot Bitcoin ETF market could see an uptick if bigger players are involved and mainland Chinese investors are allowed access to the product. The US Securities and Exchange Commission has been reluctant to approve a spot Ethereum ETF in the United States, while Hong Kong is one of the first jurisdictions with an approved spot Ethereum ETF.
#Bloomberg #Etfs #Bitcoin #Ethereum #HongKong #Us #Regulation
https://cryptopotato.com/bloomberg-analyst-issues-a-warning-for-the-upcoming-hong-kong-bitcoin-ethereum-etfs/

2024-04-01 08:20:35

Will Crypto Markets Climb or Fall on This Week’s Big US Economic Data?
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A busy week lies ahead on the U.S. economic calendar as the second quarter kicks off with key jobs reports and Federal Reserve speeches. On April 1, the macroeconomics outlet Kobeissi Letter released the key events for this week’s busy economic calendar in the United States. Monday, April 1, will see the release of March’s ISM Manufacturing PMI. A similar ISM Services PMI report will be released on Wednesday. Friday will see key job reports that reveal the number of new jobs created during the previous month and the percentage of people actively seeking employment for the period. Market participants will be looking to Fed Chair Jerome Powell for any indication during his speech on Wednesday. There will be sixteen Fed speeches during the week that will be eyed for potential policy shifts. Crypto market capitalization was down 1% on the day to $2.76 trillion during the Monday morning Asian trading session. Bitcoin briefly topped $71,000 in late trading on Sunday before being pushed down to under $69,000. Ethereum had a similar weekend and now stands at $3,550. The altcoins were generally in the green this Monday morning, with better gains from Solana, , Toncoin, and Bitcoin Cash.
#CryptoMarkets #UsEconomicData #JobsReports #FederalReserve #IsmManufacturingPmi #IsmServicesPmi #JeromePowell #FedSpeeches #Bitcoin #Ethereum #Altcoins
https://cryptopotato.com/will-crypto-markets-climb-or-fall-on-this-weeks-big-us-economic-data/

2024-03-25 18:48:26

Bitcoin Skyrockets Above $70,000 As BlackRock Deems Asset A “Good Portfolio Diversifier”
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Bitcoin surged by more than 4.5% to above $70,000 on Monday, regaining lost ground after reaching an all-time high of $74,000 earlier this month. BlackRock's digital asset lead, Robert Mitchnick, claims that Bitcoin's unique correlations make it an effective tool for portfolio diversification. Mitchnick explained that the asset's price movements have historically correlated with real interest rates and inflation expectations. BlackRock's Bitcoin ETF, IBIT, currently holds over 240,000 BTC, more than any other Bitcoin ETF besides GBTC. The surge in Bitcoin's price coincided with over $200 million of liquidations on the day, mostly impacting short traders.
#Bitcoin #Blackrock #PortfolioDiversification #Cryptocurrency
https://cryptopotato.com/bitcoin-skyrockets-above-70000-as-blackrock-deems-asset-a-good-portfolio-diversifier/