Bitcoin prices have fallen to around $62,800 after a significant drop in demand from two main sources: companies that accumulate cryptocurrency reserves and US-listed spot bitcoin ETFs. Companies have sharply reduced their bitcoin purchases, removing a key source of buying support, while US spot ETFs recorded net outflows of $213.85 million in one day, with cumulative redemptions exceeding $5.72 billion since May. This combination of reduced corporate buying and ETF outflows is keeping the market cautious and limiting prospects for a quick price rebound. Investors will closely watch future flows in investment funds and corporate buying behavior to gauge bitcoin's price direction.
Veteran trader Peter Brandt has identified a potential "inverted head and shoulders" bottom pattern in Bitcoin's price, suggesting a possible shift in momentum. However, he cautions that the pattern is unconventional and not yet confirmed. Meanwhile,...
Ethereum rose 3.17% to $1,923.53, outperforming Bitcoin's modest 0.18% gain to $64,588.87, signaling an early rotation toward large-cap altcoins. Despite this, overall market activity slowed, with declines in DeFi, stablecoin, and derivatives trading...
Ether has surged about 11% over the past week, outperforming other major cryptocurrencies like Bitcoin, which rose 4%. This rise is driven by $96 million inflows into U.S. spot ether ETFs, mainly BlackRock’s low-fee funds, while Grayscale’s higher-fe...
Bitcoin's price surged to nearly $65,000 following softer-than-expected U.S. inflation data for June, easing fears of Federal Reserve rate hikes. However, on-chain data reveals two main groups of investors—long-term holders who bought near last year'...
Ethereum futures long positions among top traders increased by over 3 percentage points across both USDT- and coin-margined markets, indicating a broad-based shift in short-term sentiment. This rise suggests heightened attention on ETH compared to ot...
