127
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12
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The inflow of capital into the Bitcoin ETF in May has already fully compensated for all the April outflows - Eric Balchunas, analyst Bloomberg.
"The bitcoin ETFs have put together a solid two weeks with $1.3b in inflows, which offsets the entirety of the negative flows in April- putting them back around high water mark of +$12.3b net since launch"
- he stated.
"The bitcoin ETFs have put together a solid two weeks with $1.3b in inflows, which offsets the entirety of the negative flows in April- putting them back around high water mark of +$12.3b net since launch"
- he stated.
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Kraken is considering removing support for Tether (USDT) in the EU due to upcoming regulations.
🇪🇺 The EU's new MiCA rules, effective from July, will restrict stablecoins like USDT, which are crucial for traders to move assets and avoid volatility.
👀 Tether expects exchanges to focus on EUR liquidity for EU customers. OKX has already limited USDT trading in the EU but allows deposits, withdrawals, OTC transactions, and EUR exchanges.
🐙 Kraken's decision will depend on the finalized guidelines from the European Banking Authority. Tether's CEO, Paolo Ardoino, has expressed concerns about MiCA and will continue discussions with regulators.
🇪🇺 The EU's new MiCA rules, effective from July, will restrict stablecoins like USDT, which are crucial for traders to move assets and avoid volatility.
👀 Tether expects exchanges to focus on EUR liquidity for EU customers. OKX has already limited USDT trading in the EU but allows deposits, withdrawals, OTC transactions, and EUR exchanges.
🐙 Kraken's decision will depend on the finalized guidelines from the European Banking Authority. Tether's CEO, Paolo Ardoino, has expressed concerns about MiCA and will continue discussions with regulators.
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Bitcoin's correlation with tech stocks hits highest since August!
📈 Bitcoin is now behaving more like tech stocks, with its 90-day correlation coefficient with the tech-heavy Nasdaq 100 index reaching 0.46, the highest since late August.
➡️ This shift reflects growing optimism that borrowing costs might soon decrease, making Bitcoin more akin to high-growth assets.
👀 Despite being touted as an uncorrelated asset, Bitcoin's recent behavior suggests otherwise. The approval of Bitcoin ETFs has opened the market to new investors, driving its price up significantly.
🐃 Analysts believe that if the Federal Reserve lowers interest rates, it could be bullish for Bitcoin and other risk assets.
📈 Bitcoin is now behaving more like tech stocks, with its 90-day correlation coefficient with the tech-heavy Nasdaq 100 index reaching 0.46, the highest since late August.
➡️ This shift reflects growing optimism that borrowing costs might soon decrease, making Bitcoin more akin to high-growth assets.
👀 Despite being touted as an uncorrelated asset, Bitcoin's recent behavior suggests otherwise. The approval of Bitcoin ETFs has opened the market to new investors, driving its price up significantly.
🐃 Analysts believe that if the Federal Reserve lowers interest rates, it could be bullish for Bitcoin and other risk assets.