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BlackRock's IBIT Sheds $291M in a Day, as Bitcoin ETFs Pull Back

BlackRock's Bitcoin ETF, IBIT, experienced its largest outflow since early August, losing $290 million in a single day due to short-term macroeconomic uncertainty. On October 30, total net outflows from U.S. spot Bitcoin ETFs reached $388.43 million, with additional losses from other funds like Ark & 21Shares’ ARKB. Analysts point to concerns over macroeconomic conditions, particularly related to geopolitical tensions and Federal Reserve comments that have created doubts about future monetary policy. Despite this week's downturn, the overall inflow for October remains positive at $3.61 billion, surpassing September's figures. Experts suggest that these short-term outflows reflect a recalibration of investor sentiment rather than a fundamental shift in institutional demand. As the market anticipates potential volatility, tools in the options market indicate a desire for protective measures. If macro conditions stabilize, a rebound similar to previous quarters could be expected, supporting long-term institutional adoption of Bitcoin and cryptocurrencies. Overall, while immediate sentiment appears bearish, the broader market outlook remains cautiously optimistic for future inflows.

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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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