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Pro Bitcoin traders' view on BTC’s flash crash to $112.6K: Did anything change?

Bitcoin pro traders are cautious following a flash crash to $112.6K, amid heightened put option premiums indicating unease in the market. US job openings have fallen to near five-year lows, raising concerns about the economy and potential recession risks. Despite BTC's recent rise to $114K, attempts to surpass $115K stalled, while gold prices climbed to near record highs. The US Dollar Index's struggles reflect diminishing confidence in the government's fiscal stability, affecting imports and tax revenues. While investors have a cautious outlook on economic conditions, the S&P 500 has remained resilient as traders anticipate potential interest rate cuts and liquidity injections from the Federal Reserve. Bitcoin options show no surge in bearish sentiment; instead, put-to-call ratios suggest greater demand for bullish strategies. Notably, $518 million flowed into Bitcoin ETFs recently, signifying ongoing accumulation by public companies, which may create a supply shock. Overall, the reluctance to hold downside risk in Bitcoin options appears to stem more from macroeconomic concerns rather than bearish bets towards the cryptocurrency itself.

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Trump Pulls Brian Quintenz Nomination for CFTC

The White House has officially withdrawn Brian Quintenz's nomination to chair the Commodity Futures Trading Commission (CFTC). Reports from Politico reveal that the decision came prior to its public announcement. Quintenz expressed gratitude for being nominated, describing the opportunity and the confirmation process as the honor of his

$1 Trillion Club ETF Gives Investors Exposure to Tech Giants—And Bitcoin

Defiance ETFs has launched a new ETF tracking the BITA Trillion Dollar Club Index, which includes major tech companies like Nvidia, Tesla, Apple, and Bitcoin through BlackRock's iShares Bitcoin Trust. This ETF, named TRIL, aims to provide investors with exposure to companies and assets with a market cap

U.S. SEC Takes Preliminary Step to Expand Universe of Crypto Custody to State Trusts

The U.S. Securities and Exchange Commission (SEC) has taken a significant step towards widening the landscape for crypto custody by indicating that state-chartered trusts are now acceptable for handling digital assets. This development, highlighted in a no-action letter from the SEC's Division of Investment Management, signals that

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