Compass Investments

Crypto vs. Dollar

📌 For the fourth week in a row, U.S. ETFs for Bitcoin are losing money. Read more here. \uD83D\uDCB5

According to the SosoValue website, of the ten cryptocurrency ETFs, Fidelitys FBTC had the most significant capital payout at $83 million. This is followed by Grayscales GBTC with a total payout runoff of $62 million, and Bitwises BITW recorded the same amount as about $7 million. For the remaining eight ETF funds, zero asset movements were recorded on Wednesday (Tuesday). The 11 Spot Bitcoin cryptocurrency ETFs have a total net gain of $14.81 billion, down from a high of $15.69 billion on June 7. The product previously enjoyed a 19-day streak of positive cash inflows through June 7. On Wednesday, trading volume for these ETFs totaled $1.7 billion, up from $1.24 billion on Monday. According to Bitcoins price page, its value is currently around $65,300, down 0.35% in the last 24 hours. Analysts at Cryptoquant suggest the possibility of an 8 to 12% rate correction, which would bring the price down to $60,000. Bitcoin price dipped below $65,000 for the first time in a month: What caused this decline, and what does it mean going forward? Bitcoin

– According to the SosoValue website, of the ten cryptocurrency ETFs, Fidelity’s FBTC had the most significant capital payout at $83 million. This is followed by Grayscale’s GBTC with a total payout runoff of $62 million, and Bitwise’s BITW recorded the same amount as about $7 million. For the remaining eight ETF funds, zero asset movements were recorded on Wednesday (Tuesday). The 11 Spot Bitcoin cryptocurrency ETFs have a total net gain of $14.81 billion, down from a high of $15.69 billion on June 7. The product previously enjoyed a 19-day streak of positive cash inflows through June 7. On Wednesday, trading volume for these ETFs totaled $1.7 billion, up from $1.24 billion on Monday. According to Bitcoin’s price page, its value is currently around $65,300, down 0.35% in the last 24 hours. Analysts at Cryptoquant suggest the possibility of an 8 to 12% rate correction, which would bring the price down to $60,000. Bitcoin price dipped below $65,000 for the first time in a month: What caused this decline, and what does it mean going forward?

Bitcoin

Bitcoin

$67,284.22

BTC 0.92%

Ethereum

Ethereum

$3,461.90

ETH -0.24%

Binance Coin

Binance Coin

$593.91

BNB 0.11%

XRP

XRP

$0.61

XRP 3.11%

Dogecoin

Dogecoin

$0.14

DOGE 5.59%

Cardano

Cardano

$0.43

ADA 0.56%

Solana

Solana

$180.23

SOL 1.82%