Bitcoin back above $70,000
GLOBAL NEWS?
Bitcoin's Surge to $71,000 Triggers Over $56 Million in Short Liquidations
Bitcoin’s ascent above $71,000 has led to a significant shakeout in the market, with more than $56 million in bitcoin short positions liquidated. This comes amid a broader cryptocurrency market adjustment, with total liquidations exceeding $193 million, predominantly from shorts.
Bitcoin ETFs Witness Reversal with $15.7 Million Inflow After Days of Declines Spot bitcoin exchange-traded funds (ETFs) have rebounded with a total net inflow of $15.7 million on Monday, snapping a five-day streak of outflows. Amidst a calmer trading atmosphere, Fidelity's FBTC leads with a significant influx, while Grayscale's GBTC faces a substantial outflow.
Goldman Sachs Reports Surge in Crypto Product Interest Among Hedge Funds
Goldman Sachs has observed a significant resurgence of interest in cryptocurrency investments among its hedge fund clientele. This renewed enthusiasm is largely attributed to the recent approval of spot bitcoin exchange-traded funds (ETFs) in the United States, as disclosed by Max Minton, the bank's Asia Pacific head of digital assets, during an interview with Bloomberg. While the current investor focus remains predominantly on bitcoin-related offerings, the potential approval of spot ether ETFs in the U.S. could diversify and further heighten interest in the sector.?
FTX Bankruptcy Debate Heats Up: Crypto vs. Dollar Payouts
Amid soaring crypto prices, FTX creditors challenge the current dollarized claim payouts, pushing for compensation in cryptocurrencies instead. This shift could significantly increase creditor returns as legal advocates and creditor committees advocate for in-kind repayments. Recent filings suggest a potential structure favoring crypto assets.?
SEC Postpones Decision on Grayscale Ethereum Futures ETF
The SEC extends its deadline to May 30, 2024, for determining the fate of Grayscale's proposed Ethereum futures ETF, signaling a strategic delay to thoroughly assess the complex proposal. Analysts suggest Grayscale's move could be a clever tactic aiming for broader approval of a direct Ethereum ETF, highlighting the intricate dance between regulatory oversight and innovative financial products in the crypto space.
RAIN NEWS?
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