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Hong Kong’s new spot bitcoin and ether ETFs were widely considered to have a disappointing debut on Tuesday, generating just $11.2 million in combined trading volume.However, there’s an important caveat when comparing the figures against the U.S. spot bitcoin funds, according to Bloomberg ETF analyst Eric Balchunas.
As bitcoin’s price has dipped below the $60,000 mark and is currently hovering around $57,000, it could fall further to around $50,000, according to Standard Chartered Bank.
The U.S. spot bitcoin ETFs saw $343.5 million withdrawn from the funds in April — the first monthly net outflows since trading began in January.The spot bitcoin ETFs most recent net outflow streak extended to five days on Tuesday amid continued zero daily flows for BlackRock’s IBIT.
Bitcoin long liquidations spiked over $145 million in the past 24 hours as the price dropped to a low not seen since February.The digital asset’s price correction is partly due to falling demand from U.S.-based investors, according to CryptoQuant.
Upcoming macroeconomic clarity, or a lack thereof, is likely to be a key contributor to bitcoin’s next price movement
- 00:57DOGE has risen and broken through 0.43 USDT, with a 24H increase of 14.67%Market data shows that DOGE has risen and broken through 0.43 USDT, currently quoted at 0.43273 USDT, with a 24-hour increase of 14.67%.
- 00:55In the past 24 hours, a total of $285 million has been liquidated across the network, mainly short positionsCoinglass data shows that in the past 24 hours, a total of $285 million has been liquidated across the network, with 95,432 people being liquidated. Of these, $92.15 million were long positions and $193 million were short positions. BTC liquidations amounted to $96.34 million and ETH liquidations totaled $36.04 million.
- 00:24Overview of Key Overnight Developments on January 1821:00-7:00 Keywords: DCG, Trump, Coinbase 1. DCG fined $38 million for Genesis lending fraud; 2. TikTok CEO: Will do everything possible to ensure the continued prosperity of the TikTok platform; 3. U.S. Senator Ted Cruz plans to overturn controversial IRS crypto tax rules; 4. California Assemblyman Phillip Chen to draft a bill supporting Bitcoin; 5. U.S. Congressional Budget Office: U.S. real GDP growth rate expected to be 1.9% in 2025; 6. U.S. Department of Justice: A certain crypto "godfather" colluded with an officer to attempt to steal $100 million in cryptocurrency.