Bitcoin Price Experiences a Sharp Decline
- Bitcoin Price Experiences a Sharp Decline: Bitcoin's price surged to $63,469 but quickly dropped due to statements from Fed members and concerns over dropping volumes.
- Bitcoin Price Dropped: The Fed is considering interest rate hikes after poor April inflation data, causing uncertainty in the market.
- Crypto Expert Predictions: Analysts like Van de Poppe and Daan Crypto Trades foresee a potential bottom between $52,000 and $55,000 after the recent drop.
- Market Volatility: A sudden wave of volatility led to a $2,000 drop in Bitcoin's price and liquidation of $127 million in futures, increasing investor anxiety.
- Altcoin Volumes: Investors are wary of deeper downward spikes in altcoin volumes over the weekend as market conditions remain uncertain.
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US Bitcoin Spot ETF Experienced a Net Outflow of $147.4 Million Yesterday, While Ethereum Had a Net Outflow of $64.6 Million
US Bitcoin ETF Net Outflow: The net outflow of the US Bitcoin spot ETF was reported at $147.4 million, with significant contributions from BlackRock and Fidelity.
BlackRock and Fidelity Contributions: BlackRock's Bitcoin ETF saw an outflow of $102.8 million, while Fidelity's Bitcoin ETF experienced an outflow of $44.6 million.
US Ethereum ETF Net Outflow: The net outflow for the US Ethereum spot ETF was $64.6 million, with BlackRock and Grayscale being the main contributors.
BlackRock and Grayscale Contributions: BlackRock's Ethereum ETF had an outflow of $59.0 million, and Grayscale's Ethereum ETF saw an outflow of $14.6 million.
Grayscale Bitcoin Trust Mini ETF Launches on Morgan Stanley Platform
Announcement of New ETF: Grayscale CEO Peter Mintzberg announced the launch of the Grayscale Bitcoin Mini Trust ETF (ticker: BTC), which is now live on the Morgan Stanley platform.
Access to Significant Assets: The ETF provides access to over $7.4 trillion in advisor-managed assets under management (AUM).