
April 18th, 2025
The traction that IBIT has garnered helped it to outshine GBTC significantly in terms of inflows.
Bitcoin price has signaled a midterm bearish outlook that could lead to further capitulation towards $50K despite the heightened whale demand.
Crenshaw, who began her term in August 2020 after being unanimously confirmed by the Senate, gained notoriety for her stance during the SEC’s consideration of Bitcoin ETFs earlier this year.
Despite the positive inflows, the overall trading volume on spot Bitcoin ETFs remains considerably lower compared to the peak in March and April 2024, when daily volumes surpassed $12 billion.
Moving large amounts of Bitcoins from BitMEX is often seen as a sign of accumulation. This shows that the high net-worth investors of Bitcoin are betting on the asset’s future potential.
Analysts says Bitcoin data centers are perfect for retrofitting due to their high power density racks, cooling infrastructure, and general data center operating capabilities.
The influx of capital into spot Bitcoin ETFs seemingly coincided with a positive price movement for the underlying asset. Bitcoin rose 2.70% in the past 24 hours.
City State Bank’s 13F filing dated July 8, 2024, shows that the bank acquired 33 units of the BlackRock iShares Bitcoin Trust (IBIT).
The heightened crowd fear could lead to a sudden Bitcoin and altcoin price rebound in the near term despite the ongoing Mt. Gox repayments.
While the US crypto ETF market recorded impressive daily inflows on Monday, the global sentiment was different. In Hong Kong, Bitcoin spot ETFs saw less than $200 in daily inflows.
CryptoQuant CEO Ki Young Ju stated that Bitcoin ETFs are slowly gaining maturity and currently contribute nearly 25% of the spot trading volumes in BTC.
Bitcoin price crumbled overnight as it fell below the $58,000 range, the first of its kind since early May amid extended bearish sentiment.
The recent Bitcoin price drop below $59K has increased overall fear of further crypto capitulation despite heightened calls for buy-the-dip.
Bitcoin (BTC) price must defend the support level of around $60K in the coming weeks to avoid further crypto capitulation.
None of the US-based spot Bitcoin ETFs registered negative cash flow on Monday as BTC price attempts to regain bullish momentum.