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2024-03-29 19:55:00 Bitcoin futures open interest reaches new high at $38 billion

Open interest for bitcoin futures on centralized exchanges has reached a fresh high, indicating increased trading activity around the largest cryptocurrency by market capitalization. Since the start of 2024, daily open interest in bitcoin futures has increased by more than 100% from Jan 1, when it was approximately $17.2 billion. This rise coincides with bitcoin’s price surge to $70,000 — a 66% increase year-to-date.

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2024-03-28 18:29:58 MicroStrategy trades at 'unjustifiable premium' to bitcoin, says firm shorting company's stock

Investment firm Kerrisdale Capital has argued in a new research report that MicroStrategy's shares have become overvalued. "We are long bitcoin and short shares of MicroStrategy, a proxy for bitcoin which trades at an unjustifiable premium to the digital asset that drives its value," Kerrisdale Capital said in the report. "Shares of MicroStrategy have soared amid a recent rise in the price of bitcoin but, as is often the case with crypto, things have gotten carried away."

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2024-03-25 19:02:19 Bitcoin ETFs become hottest product in BlackRock, Fidelity’s repertoire of funds

BlackRock and Fidelity Investment’s spot Bitcoin ETFs — IBIT and FBTC — have become the most popular funds the two asset managers currently offer in less than 50 days of trading, based on data shared by Bloomberg ETF analyst Eric Balchunas. IBIT and FBTC were launched on Jan. 11 and have consistently posted record-setting numbers and generally outperformed the wider ETF market. The strong performance is evidence of Bitcoin’s growing popularity in traditional financial circles.

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2024-03-24 23:35:00 Ki Young Ju Foresees Resurgence as Bitcoin Spot ETFs Slump

The spot Bitcoin ETF market has recently faced a period of subdued activity, coinciding with a decline in bitcoin’s price. Despite this, there are indications that a resurgence may be on the horizon, as highlighted by insights from CryptoQuant CEO, Ki Young Ju. Ju, a renowned analyst, has offered a nuanced perspective on the current state of the spot Bitcoin ETF market. He predicts a potential uptick in net flows for Bitcoin ETFs despite the ongoing downward trajectory of bitcoin’s price.

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2024-03-24 09:08:10 Bitcoin ETFs see full week of net outflows, record low inflows for BlackRock, Fidelity

Wall Street's spot bitcoin exchange-traded funds (ETFs) set a new record this week, but unlike in the recent past, crypto traders may be less than enthusiastic about this latest milestone: five straight days of net outflows. Over the past week, the ten ETFs saw total outflows of $888 million, led by a day of record-breaking outflows from Grayscale's GBTC on Monday, March 18 according to data from BitMEX Research.

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2024-03-23 18:29:56 Argentinians Turn to Bitcoin Amid Increasing Inflation Rates: Report

Argentina’s 276% inflation drives Bitcoin buying frenzy: 34,700 BTC purchased in March’s first week, the highest in 20 months. In the face of relentless inflation and economic instability, Argentinians are increasingly turning to Bitcoin as a refuge, with recent data indicating a surge in purchases of the cryptocurrency. This trend comes as Bitcoin has experienced a remarkable rally in recent months, hitting record highs and outpacing traditional hedges against inflation, such as the U.S. dollar.

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2024-03-23 10:24:56 BlackRock sees Bitcoin as integral part of financial system – little interest in other crypto

BlackRock believes that Bitcoin (BTC) will become an integral part of the financial system over the coming decade as it increasingly melds with the best parts of the traditional financial system. The asset manager’s Head of Digital Assets, Robert Mitchnick, made the statement during Reflexivity Research’s Bitcoin Investor Day on March 22. FOX Business reporter Eleanor Terrett reported his comments via X.

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2024-03-22 23:04:57 Coinbase Is More Than Just a Crypto Exchange: JMP Securities

Coinbase (COIN) is more than just a crypto exchange, and momentum is continuing to build in its ancillary businesses, JMP Securities said in a research report Thursday. JMP notes that Coinbase’s daily spot trading volume in the first quarter is averaging about $3.3 billion, which has more than doubled from the fourth quarter last year. The newly launched derivatives platform is also “scaling at a tremendous pace.”

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2024-03-22 09:59:58 Bitcoin Slips to $65K Amid Stronger Dollar, But Analyst Says the 'Pullback Is Over'

Bitcoin (BTC) slid lower Thursday amid a stronger U.S. dollar, giving up some of the advances from Wednesday's spectacular bounce spurred by a dovish tone from the Federal Reserve. BTC dropped some 5% to as low as $64,600 by late afternoon UTC hours from above $68,000 at the start of the day. The broad-market CoinDesk 20 Index (CD20) declined 3.5% from its daily high, as altcoins generally outperformed bitcoin during the day.

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2024-03-21 21:21:57 Crypto Exchange OKX to End Services in India

Crypto exchange OKX notified clients in India that they have until the end of April to wind up their positions because it is ending its service in the world's most populous country as a result of local regulations. The notice – seen by CoinDesk – told the customers they need to close all margin positions, as well as positions in perpetuals, futures and options and withdraw all funds by April 30.

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