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Hong Kong’s new spot bitcoin and ether ETFs were widely considered to have a disappointing debut on Tuesday, generating just $11.2 million in combined trading volume.However, there’s an important caveat when comparing the figures against the U.S. spot bitcoin funds, according to Bloomberg ETF analyst Eric Balchunas.
As bitcoin’s price has dipped below the $60,000 mark and is currently hovering around $57,000, it could fall further to around $50,000, according to Standard Chartered Bank.
The U.S. spot bitcoin ETFs saw $343.5 million withdrawn from the funds in April — the first monthly net outflows since trading began in January.The spot bitcoin ETFs most recent net outflow streak extended to five days on Tuesday amid continued zero daily flows for BlackRock’s IBIT.
Bitcoin long liquidations spiked over $145 million in the past 24 hours as the price dropped to a low not seen since February.The digital asset’s price correction is partly due to falling demand from U.S.-based investors, according to CryptoQuant.
Upcoming macroeconomic clarity, or a lack thereof, is likely to be a key contributor to bitcoin’s next price movement
- 01:43The Litecoin X account was once hacked and used to promote counterfeit tokenIn the latest news, the Litecoin team announced that they have regained control of their account and stated that this hacking attack was due to an intrusion into a delegated account, which has now been deleted. In recent months, there have been a series of account hacking incidents on X, leading to the promotion of fake tokens or phishing links aimed at stealing funds and sensitive data.
- 01:42If confirmed as the US Treasury Secretary, Scott Bessent will sell his hedge fund holdings to avoid conflicts of interestNews on January 12, if approved by the U.S. Senate, Scott Bessent, nominated as Treasury Secretary by President-elect Trump, will resign from his position at Key Square Group and sell his shares to avoid conflicts of interest. According to a document released by the U.S. Government Ethics Office, Bessent's resignation will take effect immediately after he is appointed as Treasury Secretary. Within 90 days of receiving Senate approval, he will sell his shares in Key Square Group (a macro hedge fund he founded and led).
- 01:41Organization: Gold is gradually becoming independent from the US dollar system, gold remains a major asset worth paying attention toAt the beginning of 2025, gold prices fluctuated and rebounded. On January 9th, the price of gold reached its highest since mid-December. On January 10th, the price of gold rose again. Institutional analysis shows that in the medium to long term, gold and the US dollar have shown "divergence" characteristics, and the trend of the US dollar index does not have a decisive impact on gold prices. Gao Ruidong, chief economist at Everbright Securities analyzed that after Trump's successful election as President of United States, his advocated "America First" policy pushed up the US dollar index causing a fall in gold prices. However, from a medium to long-term perspective, Gold and USD have already shown 'divergence' characteristics; The trend of USD Index doesn't decisively influence Gold Prices. In current process where global economy is becoming multipolarized and evolving against globalization; The dominant position of USD in international monetary system has started weakening while Gold is gradually becoming independent from USD system & turning into pricing 'anchor' during uncertain times.