The crypto market faced its biggest leveraged wipeout in history last weekend, but the turbulence won’t leave a lasting mark, according to Bitwise chief investment officer Matt Hougan. In a Tuesday blog post, Hougan described the sharp drop as “a blip” and not a big deal. He added that crypto “got a passing grade” in…
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US spot Bitcoin and Ether exchange-traded funds (ETFs) saw inflows on Tuesday as Federal Reserve Chair Jerome Powell hinted further rate cuts may come before year-end. Spot Bitcoin (BTC) ETFs saw $102.58 million in net inflows, rebounding from a $326 million outflow a day earlier, according to data from SoSoValue. Fidelity’s Wise Origin Bitcoin Fund…
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The United Kingdom’s Financial Conduct Authority (FCA) has revealed a roadmap to help asset managers adopt blockchain technology for fund tokenization. In a Tuesday announcement, the regulator said the initiative aims to “provide firms with additional clarity” to adopt tokenization and “drive innovation and growth in asset management.” “Tokenization has the potential to drive fundamental…
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Bitcoin’s correlation with gold is climbing as both assets strengthen their reputations as hedges against macroeconomic uncertainty, according to CryptoQuant CEO Ki Young Ju. In a Tuesday post on X, Ju noted that the BTC–gold correlation has risen sharply alongside gold’s surge to new all-time highs. “Gold keeps hitting new ATHs. BTC–gold correlation is high;…
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Spot Bitcoin and Ether exchange-traded funds (ETFs) in the United States saw combined outflows of more than $755 million on Monday following record crypto liquidations over the weekend. Bitcoin (BTC) ETFs recorded a net outflow of $326.52 million, according to SoSoValue data. Fidelity’s Wise Origin Bitcoin Fund (FBTC) saw the largest outflow at $93.28 million,…
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Bitcoin is retesting the “golden cross,” a bullish technical pattern that has historically preceded rallies, according to crypto market analyst Mister Crypto. In a Sunday post on X, the analyst shared a chart noting that Bitcoin’s (BTC) previous golden crosses led to gains of 2,200% in 2017 and 1,190% in 2020. With BTC currently hovering…
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An onchain investigation by crypto researcher Eye has linked the mysterious Hyperliquid whale, who controls over 100,000 BTC, to Garrett Jin, the former CEO of BitForex, a now-defunct exchange embroiled in a fraud scandal. In a Saturday post on X, the onchain sleuth noted that the whale’s main wallet, ereignis.eth, was connected to another ENS…
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Crypto.com CEO Kris Marszalek has called for a regulatory investigation into exchanges that suffered the largest losses following a record $20 billion in crypto liquidations over the past 24 hours. In a Saturday post on X, Marszalek urged regulators to “conduct a thorough review of fairness of practices,” asking whether trading platforms had slowed down,…
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Mike Novogratz’s Galaxy Digital has secured a $460 million private investment from one of the world’s “largest asset managers” to accelerate the transformation of its former Bitcoin mining site in Texas into an AI data center. The deal involves the purchase of 12.77 million Class A shares at $36 per share, with the proceeds earmarked…
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US spot Bitcoin exchange-traded funds (ETFs) continued their strong “Uptober” performance with $2.71 billion in weekly inflows, marking another strong week for institutional demand. According to data from SoSoValue, total assets under management for Bitcoin ETFs climbed to $158.96 billion as of Friday, representing nearly 7% of Bitcoin’s total market capitalization. “Capital keeps flowing into…
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