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Investors poured in $65 million to BITO in the past week, the data shows, breaking its previous 2023 high of just over $40 million in April.
Open interest has surged to $11 billion to its highest level in over a year.
The latest price moves in crypto markets in context for June 26, 2023.
ALSO: Ripple Asia's policy lead praises Japan’s crypto laws that favor consumer protection. Rahul Advani said that the country has created "a very clear taxonomy for digital assets."
Dealers are stuffed with record negative gamma in BTC. With only a little move in the spot price, "we could witness fireworks," one observer said.
Crypto prices have risen sharply since BlackRock’s filing for a spot bitcoin ETF. Of the 149 assets in the CoinDesk Market Indices (CMI), 144 rose during the week.
The largest cryptocurrency by market capitalization has been surging this week after three financial services giants filed applications for spot bitcoin ETFs.
Historically, an above 90% reading on the index has coincided with interim market tops.
The largest cryptocurrency by market cap has benefited from rising investor optimism following multiple filings for spot bitcoin ETFs and its omission from tokens listed in SEC lawsuits earlier this month.
A recent increase in stablecoin flows to exchanges may signal an increase in bullish sentiment
- 06:38The designer of the Russian digital ruble is about to resignThe Central Bank of Russia announced that its First Deputy Governor, Olga Skorobogatova, will resign on December 2. She had worked in the private sector until joining the central bank in 2014. Skorobogatova was responsible for overseeing the national payment system, IT and financial technology, including the digital ruble central bank digital currency (CBDC). Her position will be taken over by Zulfiya Kakhrumanova, the central bank's IT director. The first deputy governor Dmitry Tulin will be responsible for overseeing the national payment system.The digital ruble is planned to be widely launched in July 2025 when large banks will have an obligation to support CBDC. The second batch of banks originally planned to join this program in January 2024 but has not yet been realized as of October.
- 06:30World has over 17 million global usersOpenAI founder Sam Altman's World Project (formerly known as Worldcoin) announced in X that it has over 17 million users worldwide
- 06:29Jim Cramer favors BTC over MicroStrategy stocks: Bitcoin is the winnerCNBC "Mad Money" host Jim Cramer shared his views on Bitcoin and MicroStrategy stock (MSTR) this week. During the show, a caller told Cramer: "I've been holding this stock since 2023, and it's currently up over 1,000%. I don't plan to sell it. In fact, after the recent adjustment, I plan to buy more." Cramer commented on this: "I have to tell you that this is a Bitcoin game. I prefer actually owning Bitcoin." He mentioned that Citron recently shorted it to some extent and suggested: "All I can tell you is own Bitcoin. That's the winner."
