Latest news with #Jan3
Crypto Insight
18 hours ago
- Business
- Crypto Insight
US Bitcoin ETFs record first back-to-back $1B inflows
US-based spot Bitcoin ETFs recorded over $1 billion in inflows for the second consecutive day on Friday, marking the first time since their January 2024 launch that they've seen two back-to-back days with ten-digit inflows. On Friday, the 11 spot Bitcoin ETF products recorded total inflows of $1.03 billion, following $1.17 billion in inflows the day before, according to Farside data. $2.72 billion flowed into Bitcoin ETFs across the ATH week NovaDius Wealth Management president Nate Geraci said in an X post that since the January 2024 launch, there have been only seven inflow days exceeding $1 billion, two of which occurred in the past two days. Before that, the last was on Jan. 17, with $1.07 billion. The $1.17 billion inflow on Thursday was their second-largest daily inflow since inception, behind only the $1.37 billion recorded on Nov. 7, 2024, when Donald Trump won the US presidential election. Bitwise Invest chief investment officer Matt Hougan said in a Friday post that while the Bitcoin network produced about 450 Bitcoins on Thursday, spot Bitcoin ETFs bought around 10,000. Similarly, Jan3 pointed out that on Wednesday, Bitcoin ETF demand was '22x greater' than the daily mined supply. Jan3 CEO Samson Mow said, 'This demand is not sustainable at these price levels.' It was a strong trading week for spot Bitcoin ETFs, with $2.72 billion in inflows over five days, as Bitcoin's spot price hit fresh all-time highs of $112,000 on Wednesday and continued climbing to reach $118,780 on Friday, according to CoinMarketCap data. BlackRock's Bitcoin ETF becomes fastest ETF to cross $80 billion in AUM The price surge led to BlackRock's spot Bitcoin ETF (IBIT) crossing $80 billion in assets under management (AUM) on Thursday. ETF analyst Eric Balchunas said in a post on Friday that it was the 'fastest ETF' to ever do that in 374 days. It was recently reported that BlackRock now earns more revenue from its IBIT fund than its flagship S&P 500 fund, iShares Core S&P 500 ETF, on an annual basis. Balchunas added, 'Total assets for all the spot Bitcoin ETFs crossed $140b for the first time as well.' However, he said that the price surge did 'most of the heavy lifting here.' Source:
Yahoo
25-04-2025
- Business
- Yahoo
Serbia's Prince Filip Predicts Bitcoin Price Surge, Warns of Market Suppression Before Major Rally
Serbia's Prince Filip Karađorđević believes Bitcoin is being held back by market forces but expects a massive surge in its price. In an April 24, 2025, interview with Simply Bitcoin, Filip discussed how some market participants might be suppressing Bitcoin's price action. He drew parallels to the 2021 market, where he believes the price was kept from rising significantly, and warned that this could happen again in 2025. However, he remains confident that Bitcoin's deflationary nature means its value will continue to rise over time. Filip also mentioned the concept of the 'omega candle,' which was introduced by Bitcoin advocate and Jan3 CEO, Samson Mow. This theory predicts a rapid increase in Bitcoin's price after it crosses the $100,000 mark. Mow explained that once Bitcoin reaches this threshold, its price could jump by $10,000 per day, followed by daily increments of $100,000. Filip echoed this idea, suggesting that Bitcoin's price could 'run away' after a certain point, triggering a huge rally. Bitcoin has recently seen positive momentum, with its price recovering by over 9% in the past week. Data from Farside Investors shows that U.S. spot Bitcoin exchange-traded funds (ETFs) have accumulated more than $2.2 billion worth of Bitcoin in just three days leading up to April 23, 2025. Analysts from Bitfinex exchange noted that this rally aligns with expectations regarding Bitcoin's relative strength against equities and the dollar. They attributed this rally to macroeconomic relief, strong ETF inflows, and growing market expectations that the Federal Reserve will maintain flexible policies due to softening economic data. Despite the recent rally, there are concerns about the broader economic climate. Analysts have warned that macroeconomic uncertainty could limit Bitcoin's upside potential. JPMorgan has predicted a 60% chance of a recession in 2025, citing risks such as the ongoing trade tensions with China. The potential for a U.S. recession has raised concerns among both stock and cryptocurrency investors. As institutional interest in Bitcoin continues to grow, Filip remains optimistic about its long-term prospects. He believes that once Bitcoin breaks through the price limits imposed by market participants, its growth will be explosive. However, macroeconomic factors and market control may still affect Bitcoin's price in the short term, but Filip remains confident that Bitcoin's fundamental deflationary properties will drive its value up over time. Sign in to access your portfolio
Yahoo
20-02-2025
- Business
- Yahoo
Bitcoin's Price Action ‘Looks Very Manufactured'—Samson Mow Questions Market Dynamics Amid Institutional Inflows
Bitcoin's price has been a point of concern, with some experts believing that its recent movements appear to be 'manufactured.' Trading between $92,400 and $106,500 since mid-December 2024, the cryptocurrency has remained largely range-bound despite significant institutional inflows. Samson Mow, CEO of Jan3, discussed this issue during a panel at Consensus Hong Kong, stating that Bitcoin's price movement 'just doesn't look natural at all.' He observed that the coin would peak and then remain steady, often moving sideways. Mow suggested that the tight range in which Bitcoin has been trading could indicate some sort of price suppression. Despite the stagnation, there remains optimism about Bitcoin's long-term future. Mow noted that Bitcoin's rise past $100,000 could be the start of a massive wave of institutional adoption that could last 10 to 20 years. Previous bull runs, he explained, were muted due to backlogged exchanges. However, with the introduction of ETFs, Mow emphasized that there are no longer barriers to traditional finance capital flowing into Bitcoin. Still, the influx of capital has not yet fully materialized, with institutions currently only "dipping their toes" in the market. The slow-moving price action is even more puzzling given that institutional buyers, such as Michael Saylor's Strategy, have been continuously accumulating Bitcoin. Mow pointed out that while retail buyers are dollar-cost averaging and buying Bitcoin regularly, there still seems to be selling pressure. 'If Bitcoin's price isn't moving despite institutions and retail buyers accumulating BTC, then someone must be selling,' he said. He further explained that while the market faced structural sellers due to bankruptcies and restructuring last year, that period is largely over. The repayment process at FTX is also contributing to the selling pressure. As the company begins repaying creditors, it is doing so based on Bitcoin's price from November 2022 when it was around $20,000. This could lead to more selling as creditors attempt to capitalize on their gains. Mow mentioned that FTX's Bitcoin sales, made at much lower prices, could explain the lack of upward movement. Bitcoin's price reached an all-time high of $109,000 following Donald Trump's inauguration but quickly fell back into its previous range. This movement, combined with a significant absorption of Bitcoin by institutional buyers, has left some analysts scratching their heads. In the two months leading up to October 2024, 1.1 million Bitcoin were absorbed, worth around $110 billion at current prices. Despite this, Bitcoin's price remained constrained within a narrow range. In addition to these developments, the wider cryptocurrency market has also been facing losses. Bitcoin recently dropped below $95,000, marking its lowest price in weeks. Other coins like Solana, XRP, and Dogecoin have also experienced declines. Despite these fluctuations, some analysts predict that Bitcoin could surpass $160,000 to $180,000 in the near future. Sign in to access your portfolio
