Key Points: JPMorgan believes that the Bitcoin price retreat will continue as long as the risks persist. Outflows from 10-spot Bitcoin ETFs have reached a peak since their inception. Despite recent record highs, retail trader enthusiasm for Bitcoin appears to be waning. Bitcoin, the world’s largest cryptocurrency, has seen a significant pullback, declining over 10%…
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The ETF’s record outflow day came as Bitcoin hit a U.S. trading day low of nearly $62,000 as it continues to slide after hitting a high last week. United States spot Bitcoin exchange-traded funds (ETFs) have witnessed their largest day of joint outflows on record, with a total of $326 million being shed from the 10…
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Japan’s Government Pension Investment Fund, the largest pension fund in the world, is willing to learn more about Bitcoin as a potential diversification tool. Japan’s Government Pension Investment Fund (GPIF), the largest pension fund in the world, is looking at Bitcoin as a potential diversification tool. The GPIF officially announced on March 19 the development of new long-term…
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Crypto market depth has almost fully recovered and is back to its pre-FTX average reports crypto research firm Kaiko. A major decrease in market liquidity that persisted after the shutdown of FTX and Alameda Research in November 2022 has now recovered to pre-collapse levels, according to crypto research firm Kaiko. In a March 18 research…
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Grayscale’s GBTC has just notched its largest day of outflows since its launch, though ETF analysts are optimistic that BTC ETFs are only just starting to gain momentum. More than $640 million worth of Bitcoin flowed out of crypto asset manager Grayscale’s spot Bitcoin ETF on March 18, marking the largest day of outflows for the…
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Bitcoin bulls remain confident despite BTC price hitting its lowest levels since March 6 in a brutal weekend sell-off. Bitcoin lurched toward $60,000 on March 17 as selling persisted through the weekend. “Constant spot selling” pressures BTC price action Data from Cointelegraph Markets Pro and TradingView showed new BTC price lows of $64,522 on Bitstamp. After hitting new all-time highs during the…
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Some suggest a waning ETF narrative and economic data from the United States may have sparked the sudden crypto sell-off. The price of Bitcoin plunged amid a hectic day that saw crypto liquidations top $661 million over the past 24 hours, affecting nearly 200,000 traders. In early trading on March 15, Bitcoin shed 7.5% in just…
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Approximately $700 in satoshis were sent to El Salvador’s new “Bitcoin piggy bank” across dozens of donations. Only hours after El Salvador publicly announced its move to store a “big chunk” of its Bitcoin (BTC) in a physically secured cold wallet, Bitcoiners have already lined the wallet with their favorite “rare sats” and Ordinals. On March 14,…
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Bitcoin ETFs are sucking up the BTC available for purchase, and the tipping point in supply dynamics will come this year, one analyst says. faces a “sell-side liquidity crisis” by September if institutional inflows continue, an industry analyst says. In a thread on X on March 12, Ki Young Ju, founder and CEO of on-chain analytics platform…
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Bitcoin prices could reach $337,000 as the “upper bound” of the current cycle, according to popular BTC price analyst Willy Woo. Bitcoin bull market because the BTC price of $71,000 is equivalent to the $20,000 mark of the previous bull cycle, according to Willy Woo, a Bitcoin analyst and managing partner at CMCC Crest. Woo’s…
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