On Monday, U.S. spot-listed bitcoin ETF outflows rose to $516 million as bitcoin tumbled toward $90,000.
The cryptocurrency market's decline over the past day comes amid wider market uncertainty following new U.S. tariff plans.
Monday's figures, led by Fidelity's FBTC, represent the fifth-largest net daily outflows for the spot Bitcoin ETFs to date.
Investors are cautious amid uncertainty around trade tariffs, inflation and monetary policy, Head of Research James Butterfill said.
Following a lackluster performance in recent weeks, Bitcoin appears to be seeing a steady recovery with its price now approaching the $100,000 price mark. Particularly, so far, BTC has managed to regain some of the losses shedded in recent weeks with its price now hovering above $98,000, marking a 2.6% increase in the past 7 days. Alongside this price movement, new data have emerged highlighting significant activity among large holders on exchanges, suggesting a shift in market dynamics. Related Reading: Bitcoin Open Interest Climbs—Is a Market Breakout Around the Corner? Bitfinex Whales Show Increased Activity A CryptoQuant analyst known as Mignolet has recently shared a detailed outlook on exchange whales and their influence on the current price action in Bitcoin. Mignolet’s observations focus on leverage ratios across major trading platforms. According to his analysis, the “all exchange leverage ratio” is at an all-time high. This measure, which captures the amount of leverage being used on exchanges, reflects heightened activity that could precede significant price moves. Interestingly, while Binance has seen its leverage ratio drop back to levels last seen during last year’s consolidation phase, Bitfinex tells a different story. On Bitfinex, leverage ratios have surged sharply, aligning with a rise in open interest. Mignolet highlights that this activity points to a sudden increase in whale movements within the ongoing consolidation range. While these leverage ratios alone don’t guarantee a specific price direction, the sharp uptick on Bitfinex suggests a shift in market dynamics that bears watching. According to the CryptoQuant analyst, the question now is: What are these whales aiming for? Mignolet’s analysis stops short of providing a definitive answer, but it raises the possibility of a major price shift soon. With Bitcoin’s price holding steady above $98,000, the actions of these large-scale traders could influence whether the market breaks higher or retreats back into a more extended consolidation phase. Bitcoin Encounters Potential Strong Support Zone Meanwhile, Bitcoin has continued to inch closer to the six-digit price mark which it recently fell below in the previous week. Although the asset is still roughly an 8.7% decrease away from its all-time high (ATH) above $109,000 established in January, it has managed to see an uptick in price in the past few days. At the time of writing, Bitcoin trades at $98,091 marking a 1.2% increase in price over the past day. According to data from IntoTheBlock, the asset appears to be seeing a formation of a “massive demand zone just below the current price.” IntoTheBlock highlighted that should the market face further downward pressure around this area, the zone may act as strong support. A massive demand zone has formed just below the current price???? On-chain data indicates that 2.76 million addresses acquired a total of 2.1 million $BTC at an average price of 97.1k, highlighting significant buying interest at this level. If the market faces further downward… pic.twitter.com/ANm1kkXMtE — IntoTheBlock (@intotheblock) February 21, 2025 Featured image created with DALL-E, Chart from TradingView
It will mark the first time that Costa Ricans will have access to any type of crypto investment product through the country's banking system.
A Copper analyst suggests that plans to audit Fort Knox's gold reserves could potentially drive investors toward bitcoin.
The launch follows Hashdex's combo ETF going live last week after both funds were approved by the SEC in December.
BlackRock's IBIT dominates spot Bitcoin exchange-traded funds by trading volume with a current 75% market share.
In the past few hours, Bitcoin has seen a notable rebound from its recent slump, triggered by FTX’s repayment of $1.2 billion to its creditors, which added substantial liquidity to the market. Despite this recovery, various on-chain indicators currently indicate that Bitcoin may not surpass the critical $100K mark in the coming days. This sentiment …
Institutional investors bought $38.7 billion worth of the spot bitcoin exchange-traded funds in the fourth quarter, filings with the Securities and Exchange Commission revealed.
The Bitcoin Layer 2 network's capacity currently stands at around $500 million after strong growth in 2024.
Bitcoin-based funds are “highly sensitive” to interest rate expectations and bore the brunt of last week’s outflows, James Butterfill said.
Last week, the cryptocurrency market was pretty unstable because of the latest inflation reports. This caused prices of many altcoins like BNB, Litecoin, and XRP to correct downward, hovering around dips. Despite this, big investors saw it as a chance to buy more, which could lead to a significant price recovery for these altcoins this …
Popular Bitcoin analyst and influencer PlanB recently revealed that he has moved his Bitcoin holdings into ETFs, citing practical reasons for the decision. In a recent social media post, PlanB explained that managing Bitcoin via ETFs is simpler and less stressful than handling private keys, offering a more convenient solution for him. “I have transferred …
The National Bank of Canada has ventured boldly into the realm of cryptocurrencies. The bank has made $2 million investments in Bitcoin exchange-traded funds (ETFs), changing the way conventional finance views digital assets. This choice emphasizes the evolving scene of controlled crypto investments and the increasing institutional curiosity in Bitcoin. Related Reading: Ethereum Whales On The Move—224,000+ ETH Withdrawn In Record Outflow A Calculated Risk On Bitcoin ETFs The National Bank of Canada decided on ETFs instead of directly purchasing Bitcoin, following a pattern among financial institutions looking for controlled access to the digital asset. By means of Bitcoin ETFs, one can invest in Bitcoin free from the complications of direct ownership, including security of private keys or navigating cryptocurrency exchanges. This investment also coincides with a period of erratic BTC prices, which have lately ranged between $95,000-$97k. ???? National Bank of Canada Invests $2M in Bitcoin ETFs ???????????? Canada’s sixth-largest commercial bank ($462B in assets) just made a bold move into Bitcoin, purchasing $2M worth of Bitcoin ETFs. ???? Institutional adoption is accelerating, with traditional financial giants deepening… pic.twitter.com/aLuBGjUbed — Blockchain North (@BlockchaiNorth) February 13, 2025 Following The Footsteps Of Global Institutions Regarding the reception of Bitcoin ETF, Canada is setting the benchmark. The action of the National Bank of Canada is in line with those of other big multinational companies like as BlackRock, which lately started the iShares BTC Trust in the US. The growing participation of conventional banks and asset managers suggests that Bitcoin is starting to acquire popularity as a choice of investment. Weighing Opportunity And Risk Despite the surrounding buzz, detractors of ETFs contend they do not provide the advantages of direct Bitcoin ownership. Although ETFs depend on outside custodians, direct ownership of the cryptocurrencies gives investors total control over their money. ETF investments often come with management fees that could cut possible returns. Still, the National Bank of Canada seems to consider ETFs as a safer, more readily available way to expose to Bitcoin free from direct ownership and related legal concerns. Related Reading: Cardano Price Balloons 107% As Whales Scoop Up 1.41 Billion ADA What This Means For Bitcoin’s Future Bitcoin’s increasing engagement with the financial sector suggests that digital assets are gradually becoming a part of traditional finance. If additional businesses follow suit, crypto acceptance might increase even more, which would improve its price and market dynamics. The National Bank of Canada’s $2 million investment, albeit tiny at the moment, reflects a broader trend of mainstream financial actors adopting Bitcoin as a long-term asset. As interest in Bitcoin ETFs grows, it is uncertain whether other banks will follow suit, potentially bridging the gap between traditional banking and the cryptocurrency market. Featured image from Gemini Imagen, chart from TradingView
Major institutions, including sovereign wealth funds and pension funds, ramped up their spot Bitcoin ETF investments.
The following article is adapted from The Block’s newsletter, The Daily, which comes out on weekday afternoons.
The purchase follows BlackRock securing a commercial license to operate in Abu Dhabi towards the end of last year.
Barclays has emerged as one of the top holders of BlackRock’s Bitcoin ETF as of Dec 31, according to a Thursday 13F filing with the SEC.
Growing institutional interest in Bitcoin is an undeniable fact. Important it is to note that institutional players often engage in the Bitcoin market silently. One such silent engagement was exposed recently, when the Bank of Montreal, Canada’s third-largest bank by asset size, officially declined its massive Bitcoin investment in its Form 13F-HR to the United …
Bitcoin continues to trade in a range that it has set since mid-November.
Goldman Sachs has significantly boosted its exposure to crypto with a 2,000% increase in its Ethereum ETF holdings, now valued at $476 million, and a 114% jump in Bitcoin ETFs, reaching $1.5 billion. The investment bank’s massive buys include shares in BlackRock’s iShares Ethereum Trust and Fidelity’s Bitcoin Fund. This move comes after strong market …
Ahead of the US inflation report, Bitcoin’s price is experiencing a bearish correction. This drop is triggered by significant sell-offs among investors, creating intense bearish pressure in the $95K-$100K range. Meanwhile, various on-chain metrics indicate mixed sentiments regarding Bitcoin’s next direction, as traders on both sides continue to heavily influence the price chart. Bitcoin’s MVRV …
In recent hours, the price of Lido jumped following a significant upgrade. Lido, the leading liquid staking protocol, has launched Lido v3, an update to provide increased flexibility and composability for institutional Ethereum stakers. According to analysts, this upgrade is major step toward Ethereum staking as US awaits staked ETH ETF approval. Lido V3 Introduces …
13Fs are a way to glimpse how the largest portfolios and some of the most influential money managers play the market.
The following article is adapted from The Block’s newsletter, The Daily, which comes out on weekday afternoons.
Experts speculate on the potential launch of memecoin ETFs, with issuers already filing for funds tied to tokens like Trump’s memecoins.
It marks the fifth consecutive week of net inflows for the investment products, CoinShares Head of Research James Butterfill noted.
In a recent move, Franklin Templeton has updated its S-1 filing for the Franklin Crypto Index ETF, aiming to gain approval to gradually add tokens to the fund. The updated filing reveals that the Franklin Crypto Index ETF will initially focus on Bitcoin (86.31%) and Ethereum (13.69%). While it doesn’t commit to adding other cryptocurrencies, …