Compass Investments

Crypto vs. Dollar

📌 Bitcoin-Etf lost £174 million after Mt. Gox payment decryption confirmed

Institutional investors have been relentlessly selling US spot bitcoin-ETFs. According to analytics platform SoSovalue, net outflows from bitcoin-ETF funds have reached 7 billion 1,400 million yen over the past 5 trading sessions. Bitcoin

– Institutional investors have been relentlessly selling US spot bitcoin-ETFs. According to analytics platform SoSovalue, net outflows from bitcoin-ETF funds have reached 7 billion 1,400 million yen over the past 5 trading sessions.

Yesterday, net outflows reached 1,174 million after it was revealed to Fuji’s creditors. Gox will finally start receiving rewards next week. The largest outflows were seen in the grayscale GBTC fund (£99,000 million) and the FBTC Fidelity fund (£3,500 million).

BTC briefly broke the $60,000 mark before falling to £59,086. The major cryptocurrencies have since recovered and are trading at £60,770 at the time of writing, according to CoinGecko.

Although last week was a shortened week for US institutional investors – the market was closed until June 19 due to the 19th anniversary celebrations – bitcoin ETFs are still in the market.

The bitcoin exchange rate fell below the $6-60,000 mark for the first time since the beginning of the month. This came after the announcement of Fuji’s creditors. Gox will start receiving payments in bitcoin and Bitcoin Cash next week. The world’s leading cryptocurrency has cooled off all month after an exciting start to the year when the SEC approved Etf spot bitcoin. But today, according to CoinGecko, it fell 6.2% in the last 24 hours, dropping to a daily low of 59,962 yen. Cryptocurrency exchange Coinbase …

It is noteworthy that in this 24 hours in Mt. Fuji news, it is a big deal. Cryptocurrency liquidation across all Gox assets reached $33,000 million.

Now that market sentiment was already negative due to the Federal Reserve’s more hawkish stance than expected, the flood of negative news is becoming unsettling for investors, especially Fuji’s creditors. Gox is expected to receive about $990 billion in bitcoin payments next week, which could turn into a disaster if it starts selling assets.

Bitcoin miners are likely selling off BTC reserves as the network’s hashrate has fallen 6 percent from a 24-month high to the lowest level since March 17.

Bitcoin

Bitcoin

$63,552.12

BTC 5.82%

Ethereum

Ethereum

$3,397.19

ETH 6.57%

Binance Coin

Binance Coin

$577.24

BNB 7.58%

XRP

XRP

$0.53

XRP 0.21%

Dogecoin

Dogecoin

$0.12

DOGE 7.06%

Cardano

Cardano

$0.44

ADA 0.99%

Solana

Solana

$156.01

SOL 7.51%