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Asia Morning Briefing: Bitcoin Trades at $109K as U.S. ETF Demand Fades

Bitcoin is trading around $109,800 amid diminishing interest in BTC ETFs following hawkish comments from Fed Chair Jerome Powell. Recent data shows negative flows for U.S. spot bitcoin ETFs, with a seven-day average outflow of 281 BTC. Institutional interest is waning, with traders increasingly taking profits. Bitcoin's price struggles to stay above the short-term holders' cost basis of approximately $113,000, driven by long-term holders selling around 104,000 BTC monthly. Meanwhile, Solana's new ETFs attracted inflows but failed to boost its price, which fell by 8%, erasing year-over-year gains. The overall market sentiment remains weak, influencing other assets such as Ether, which dropped by 1.8%. Investors are closely watching the Fed’s next moves, with increasing uncertainty surrounding monetary policy and its impact on the crypto market.

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Record $1.26B Outflow Hits BlackRock Bitcoin ETF as Bearish Options Cost Soars

BlackRock's Bitcoin ETF, IBIT, has encountered a monumental net outflow of $1.26 billion in November, marking the most significant withdrawal since its inception in January 2024. This outflow comes amidst a price decline of 16%, bringing the share price down to $52, a level not seen since

Mastercard Picks Polygon to Bring Verified Usernames to Self-Custody Wallets

Mastercard has announced its collaboration with Polygon to introduce a system allowing users to send cryptocurrencies using verified usernames instead of lengthy wallet addresses. This new feature, referred to as the Mastercard Crypto Credential, aims to enhance security and user-friendliness in crypto transactions. By utilizing the services of Mercuryo, a

Bitcoin Dominance is Bleeding With Price, But Market Observers Say Altcoin Season is on Hold

Bitcoin's recent decline in price and dominance rate indicates a broader market deleveraging rather than a straightforward rotation into altcoins. While Bitcoin has dropped nearly 16% this month, its dominance has slipped from 61.4% to 58.9%. Despite speculation about an upcoming 'altcoin season', many

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