Bitcoin ETFs, those gilded coffers, witnessed a total outflow of $101.29 million, with four ETFs performing dramatic exits. Grayscale GBTC, Fidelity FBTC, and Ark & 21Shares, those titans of capital, withdrew $56.63 million, $56.56 million, and $53.87 million respectively. 🏛️
As the Hong Kong Economic Times has scribbled in its ledger, the Securities and Futures Commission (SFC) has bestowed its blessing upon the first Solana spot exchange-traded fund (ETF). A spot ETF, you ask? Merely a vessel for the timid investor, a lifeboat in the stormy seas of cryptocurrency, allowing one to dance with the price without embracing the token itself. 🕺✨ For SOL, this means traders can waltz without the burden of blockchain baggage.
Bitcoin’s 50-week simple moving average, standing nobly at about $102,500 according to TradingView, has been the financial equivalent of a reliable old alehouse. It’s been that four times since the bull market burst its knickers in mid-2023 and is itching to be visited again, analysts quip.
Coinbase Global Inc. (Nasdaq: COIN) – a name that positively sings of modernity – has dispatched a missive to the Treasury, suggesting they embrace the latest gadgets – blockchain analytics, artificial intelligence (AI), and something called ‘decentralized identity’ (sounds dreadfully complicated) – to sort out this messy business of money laundering. Apparently, it’s all frightfully archaic at the moment. They assure us, naturally, that this won’t, perish the thought, stifle “innovation” or allow other countries to steal a march on our precious fintech dominance. One hopes they’ve considered the implications.
A post from the wise humbugs at CryptoQuant, penned by one PelinayPA, spills the secret that Binance is bulging with stablecoin reserves at near-apocalyptic levels. What this means is that investors, with the reckless resolve of gamblers on a riverboat, are positioning themselves to sweep in and catch BTC at current, if not lower, rates.
Now, I’m not an economist (thank god), but even I know this: when you flood the market with boatloads of stablecoins, it’s usually either a prelude to a rally… or a panic move that says, “Everyone’s out, we’re bringing in the backup cash so the party doesn’t end in total silence and someone crying in the bathroom.”
As of October 22, the whale’s holdings in short positions had dwindled to a mere $140 million, a significant drop from the previous $227 million. It was as if the whale, in a moment of self-doubt, had decided to trim his sails, leaving behind a trail of speculation and intrigue. 💸📉
Especially Senator Gallego, who basically called out some CEOs for their sassy rants last week. And with President Trump treating crypto like his personal scandal playground – hello, political corruption! – the lefties are like, “Nah, Web3, you’re cute but we’re done.”
Still Struggling to Outcompute a 1980s Processor 😂
According to Anthony, in just THREE months-yes, you read that right-Dogecoin will rocket to $3.25. Apparently, we’re supposed to just trust that this will happen because, well, magic. Oh, and it’ll be a new all-time high (ATH) because, again, why not break all records? 🎉
