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Share link:In this post: Ether’s liquidity dropped 20% on U.S. exchanges and 19% on offshore venues after the debut of nine ETFs in July. On September 5, Ethereum spot ETFs saw $152,700 in outflows, with Grayscale’s ETHE losing $7.3895 million in a single day. Bitcoin ETFs have gained $5 billion since launch, while Ethereum ETFs have experienced $500 million in net outflows.
Quick Take EFUT shareholders have until market close on Sept. 16 to sell their shares, with the fund’s liquidation date is set for Sept. 23. EFUT held $21.24 million in total net assets and maintained a NAV of $20.23 as of Sept. 5 The decision to close the fund was related to the approval of VanEck’s spot Ethereum ETF ETHV.
BTC went to another monthly low of $54,400 in minutes.
The crypto markets are crashing amid interesting developments in the US political scene.
Share link:In this post: Bitcoin fell below $54,000, reaching a new one-month low of $53,806. The decline followed weaker-than-expected August nonfarm payrolls data. The U.S. dollar strengthened by 0.3%, affecting Bitcoin’s initial reaction to the data.
Quick Take The Sept. 18 event will come at the heels of a bus tour called the “America Loves Crypto Tour,” which visited five swing states. Crypto has become a hotly contested election issue for the industry.
BitMex co-founder Arthur Hayes says Bitcoin is headed to $50,000 this weekend.
- 2024/09/19 23:42Overview of Key Overnight Developments on September 2021:00-7:00 Keywords: Pectra Upgrade, Terraform Labs, Consensys, Genesis 1. Ethereum Pectra upgrade confirmed to be executed in two phases; 2. Terraform Labs receives approval from a U.S. bankruptcy judge to begin liquidation; 3. Texas court dismisses Consensys lawsuit against the U.S. SEC; 4. Worldcoin is testing facial recognition features in its World App; 5. Goldman Sachs, Citigroup, and Morgan Stanley predict differing paths for future Fed rate cuts; 6. German government shuts down 47 cryptocurrency exchanges suspected of illegal activities; 7. ZachXBT: Genesis creditors' crypto assets stolen, valued at $243 million; 8. U.S. Congressman Tom Emmer: Looking forward to working with Trump to fire SEC Chairman Gary Gensler.
- 2024/09/19 23:20Standard Chartered Bank: Bitcoin and the broader crypto market will continue to rise after the Federal Reserve cuts interest ratesStandard Chartered Bank analyst Geoff Kendrick predicts that after the recent interest rate cut by the Federal Reserve, Bitcoin and digital assets will continue to rise. This is more driven by favorable macroeconomic conditions rather than the results of the U.S. presidential election. Kendrick pointed out in an email on Thursday: "After the FOMC meeting, digital assets ranked first in performance for the first time. Despite Polymarket showing Kamala Harris's approval rating as 52/47 today, this is still the case." He attributed this positive performance to macroeconomic drivers beginning to outweigh election-related uncertainties. Kendrick insists that the impact of US presidential elections on Bitcoin prices is not as great as it used to be. He said: "Although US elections are important, macro drivers have begun to dominate," Kendrick stated he was monitoring differences between short-term and long-term U.S Treasury bond yields as indicators of market conditions favorable for digital assets. "I observed a steeper yield curve in U.S 2s10s which favors digital assets".
- 2024/09/19 23:19Yesterday, there were no funds flowing in or out of GBTC and ETHEAccording to Farside Investors, the data for the US spot Bitcoin ETF and spot Ethereum ETF as of September 19 is as follows: Spot Bitcoin ETF: BTC had a net outflow of $9.5 million; GBTC had no funds inflow or outflow. Spot Ethereum ETF: ETHE, ETH had no funds inflow or outflow.
