Quick Take Bitcoin Exchange-Traded Funds (ETFs) are witnessing a remarkable surge, setting a new record with the biggest day of inflows to date. Data from BitMEX shows a $673 million inflow in a single day, the equivalent of 11,122 Bitcoin. The spike in inflows signifies an increased interest in Bitcoin-backed financial products. BlackRock’s IBIT saw
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Speculators on crypto derivatives suffered significant losses in the past day, totaling around $774 million, marking the highest single-day loss of the year due to volatile market swings. Bitcoin, the bellwether digital asset, surged to its highest level since November 2021, surpassing the $63,000 mark in a remarkable rally. However, the euphoria was short-lived as
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Quick Take In a wild 24-hour ride, Bitcoin’s value underwent a rollercoaster of fluctuations, skyrocketing to a peak of $64,000, subsequently plunging to $59,000, before making a recovery to above $60,000. This climb triggered a wave of liquidations, totaling roughly $800 million in the digital asset ecosystem, according to Coinglass. During Bitcoin’s ascent, short positions
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Crypto exchange Gemini said Earn users would receive “100% of their digital assets back in kind” following an in-principle agreement with bankrupt Genesis and other creditors of the failed lender, according to a Feb. 28 statement. The firm explained: “This means, for example, that if you had lent one bitcoin in the Earn program, you
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Quick Take Yesterday, Feb. 28, the newborn-nine spot Bitcoin ETFs doubled their trade volume record, with roughly $6 billion traded. BlackRock IBIT emerged as the frontrunner with $3.3 billion, followed by Fidelity with $1.4 billion. In addition, IBIT surpassed the Invesco QQQ ETF on its own, according to senior Bloomberg ETF analyst Eric Balchunas. The
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Quick Take The diminishing returns theory, suggesting that Bitcoin will yield lesser returns with each cycle, is a subject of intense scrutiny. The examination of this theory from two points of view, the cycle low and the cycle all-time high, provides interesting insights. In November 2022, Bitcoin’s cycle low occurred during the FTX collapse, dropping
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MicroStrategy has surged into the elite ranks of the top 500 US companies by market capitalization, riding a recent bullish wave in its stock performance. Data reveals a remarkable ascent for MicroStrategy, climbing 46 places in just one day to secure the 427th spot among America’s largest publicly traded firms as of Feb. 29. This
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El Salvador and several forward-thinking corporations, including Nexon and Tahini’s, are witnessing substantial returns on their Bitcoin investments, challenging the wave of skepticism they faced from the media and financial analysts. Despite enduring a barrage of negative press when they made their investments over the last few years, the Bitcoin stacks they built up are
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In a recent investigation by The New York Times, new revelations have come to light regarding the involvement of Sam Bankman-Fried, the disgraced co-founder of FTX, with Solana’s native cryptocurrency, SOL, and his ongoing legal battle.  The report sheds light on Bankman-Fried’s activities from the federal detention center in Brooklyn, where he awaits sentencing, and

After rallying over 11% in hours and then crashing, Bitcoin experienced a “blow-off top”—leading to a huge cascade of crypto liquidations.