Crypto asset management giant CoinShares says institutional whales pulled billions of dollars out of crypto investment vehicles last week. According to CoinShares’ latest Digital Asset Fund Flows Weekly Report, institutional crypto investment products suffered $2.9 billion in outflows last week. “Digital asset investment products saw a 3rd consecutive week of outflows, marking the largest weekly outflows on record at a total of US$2.9bn, bringing the three-week total to US$3.8bn. We believe several factors contributed to this trend, including the recent Bybit hack, a more hawkish Federal Reserve, and the preceding 19-week inflow streak totaling US$29bn. These elements likely led to a mix of profit-taking and weakened sentiment toward the asset class.” Source: CoinShares Regionally, the US led in outflows to the tune of $2.87 billion. Switzerland and Canada followed at $73 million and $16.9 million in outflows, respectively, while Germany bucked the trend, adding $55.3 million in inflows. Crypto king Bitcoin ( BTC ) took the worst of the negative sentiment, losing $2.6 billion in outflows. “Ethereum did not escape the negative sentiment either, seeing a record weekly outflow totaling US$300m. Solana and Ton also saw US$7.4m and US$22.6m outflows respectively.” Altcoins Sui ( SUI ), XRP and Litecoin ( LTC ) enjoyed inflows of $15.5 million, $5 million and $1 million, respectively. Don't Miss a Beat – Subscribe to get email alerts delivered directly to your inbox Check Price Action Follow us on X , Facebook and Telegram Surf The Daily Hodl Mix Disclaimer: Opinions expressed at The Daily Hodl are not investment advice. Investors should do their due diligence before making any high-risk investments in Bitcoin, cryptocurrency or digital assets. Please be advised that your transfers and trades are at your own risk, and any losses you may incur are your responsibility. The Daily Hodl does not recommend the buying or selling of any cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing. Generated Image: Midjourney The post Record $3,800,000,000 Flows out of Institutional Crypto Products in One Week: CoinShares appeared first on The Daily Hodl .
The U.S. government is backing crypto with a national reserve, boosting Bitcoin, XRP, and more.
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After a week of notable crashes, Bitcoin has again seen life breathed into its price trajectory and has reclaimed its mark above $90,000. The major primer for the return of bullish momentum was the announcement of a US crypto strategic reserve by President Donald Trump over the weekend, which could be the beginning of an extended rally for Bitcoin and other cryptocurrencies. With the return of bullish momentum, veteran financial analyst Peter Brandt listed six reasons Bitcoin has flipped bullish. Peter Brandt Lists Six Reasons Bitcoin Has Turned Bullish Bitcoin has seen its value rise by approximately 9% in the past 24 hours, adding about $166 billion to its market capitalization. This marks a swift change from the decline last week, which saw Bitcoin declining to fill a CME gap below $80,000. Related Reading: Bitcoin Price Enters Ascending Phase After Cup And Handle Formation At $105,000, Here’s The Next Target Renowned for his deep technical expertise, Peter Brandt took to social media to outline six reasons why Bitcoin has now returned to a bullish trajectory. His observations are rooted on a series of technical developments that have unfolded over the past week. Brandt’s first key point is Bitcoin’s recent 30% correction. Notably, Bitcoin’s recent crash to a bottom at $78,900 marked a 30% correction from its January 30 all-time high of $108,786. This level of pullback is typical in strong bull markets and often precedes the next leg up. The second reason why Bitcoin has flipped bullish is its ability to find support along its parabolic advance despite the recent dip. Another factor reinforcing Bitcoin’s bullish outlook is the successful retest of a CME futures gap below $80,000. Interestingly, this gap had been a key concern even as Bitcoin rallied to above $100,000 in January, with technical analysis warning of a drop toward this level. Now that the CME gap has been filled, the next step is the resumption of bullish momentum. Brandt also highlighted the emergence of a “foot shot doji” candlestick pattern, which typically indicates the exhaustion of selling pressure and a potential reversal. Furthermore, he referenced the Factor three-day trailing stop rule to indicate that Bitcoin is regaining strength. Lastly, he pointed to a high-volume “puke out,” where sellers have exited Bitcoin in capitulation. Taken together, these signals suggest that Bitcoin’s latest rally is not just a temporary bounce but a confirmation of bullish momentum. What’s Next For BTC As Bullish Signals Strengthen? At the time of writing, Bitcoin is trading at $92,443 and everything surrounding its fundamentals now points to a continued move upwards in the coming weeks. Interestingly, you could argue that institutional invesments through Spot Bitcoin ETFs have yet to be factored into the price of Bitcoin following Trump’s announcement of a US crypto strategic reserve. Related Reading: Bitcoin Price Risks Crash: Analyst Paints Picture Of Drop Below $30,000 The announcement came over the weekend when traditional markets were closed, meaning the bullish momentum was largely driven by retail traders. With this, Bitcoin is likely to push past the $100,000 mark again before the end of the week as institutional inflows pick up. Featured image from iStock, chart from Trsdingview.com
Hold onto your hats, crypto enthusiasts! The Bitcoin mining landscape just witnessed a seismic shift. Hut 8, a prominent player in the digital asset mining space, has dropped a financial bombshell, revealing an astounding $331 million net income for 2024. This isn’t just pocket change; it’s a monumental figure that underscores the potential and profitability within the Bitcoin ecosystem, especially when coupled with strategic diversification. Let’s dive deep into what’s fueling this incredible growth and what it means for the future of Hut 8 and the broader crypto market. Decoding Hut 8’s Impressive Net Income: What’s Behind the Numbers? A net income of $331 million is not something you see every day in the volatile world of cryptocurrency mining. So, what’s the secret sauce behind Hut 8’s financial triumph? Several factors appear to be at play, creating a perfect storm of profitability: Strategic Bitcoin Holdings: Holding 10,171 BTC is no small feat. Valued at approximately $905 million, these substantial BTC holdings act as a significant asset on Hut 8’s balance sheet. As Bitcoin’s price fluctuates and generally trends upward over the long term, these holdings appreciate considerably, directly impacting the company’s net income. Revenue Generation: Beyond just holding Bitcoin, Hut 8 is actively generating revenue through its mining operations. A reported $162 million in revenue for 2024 indicates a robust operational performance. This revenue likely stems from successfully mining new Bitcoin blocks and earning transaction fees. Diversification into AI Infrastructure: Perhaps one of the most forward-thinking moves by Hut 8 is its expansion into AI infrastructure . This strategic diversification is not just about hedging against Bitcoin market volatility; it’s about capitalizing on the burgeoning AI sector. By investing in and developing AI infrastructure, Hut 8 is creating new revenue streams and positioning itself at the forefront of technological convergence. Operational Efficiency: While not explicitly detailed in the initial report, achieving such a high net income suggests strong operational efficiency. This could include optimized mining operations, efficient energy management, and effective cost control measures. Bitcoin Mining and BTC Holdings: A Foundation for Growth At its core, Hut 8 is a Bitcoin mining company. Their success is intrinsically linked to the performance of Bitcoin and the efficiency of their mining operations. Let’s break down how BTC holdings and mining contribute to their bottom line: * **Bitcoin as a Store of Value:** Holding a significant amount of Bitcoin is a strategic decision. Companies like Hut 8 view Bitcoin not just as a mined asset to be immediately sold, but also as a long-term store of value. This strategy pays off handsomely when Bitcoin’s price appreciates, as seen in recent years. * **Mining Revenue Streams:** The primary revenue for Bitcoin miners comes from two sources: block rewards and transaction fees. Block rewards are newly minted Bitcoins awarded to miners for successfully adding a new block to the blockchain. Transaction fees are collected from users who pay to have their transactions included in blocks. Efficient mining operations maximize the acquisition of these rewards and fees. * **Market Positioning:** Having substantial BTC holdings also positions Hut 8 as a major player in the Bitcoin ecosystem. It demonstrates financial strength and commitment to the digital asset, potentially attracting investors and partners. Venturing into AI Infrastructure: A Strategic Masterstroke? While Bitcoin mining remains central to Hut 8’s identity, their foray into AI infrastructure is arguably the most intriguing aspect of their recent developments. Why is this diversification so significant, and what are the potential benefits? Reduced Reliance on Bitcoin Volatility: The cryptocurrency market is known for its volatility. By diversifying into AI, Hut 8 reduces its dependence on Bitcoin price fluctuations. AI infrastructure can generate revenue streams that are less correlated with the crypto market, providing a buffer during downturns. Capitalizing on the AI Boom: Artificial intelligence is rapidly transforming industries worldwide. The demand for AI infrastructure, including data centers and computational power, is surging. Hut 8 is strategically positioning itself to tap into this massive growth market. Synergies and Innovation: There could be potential synergies between Bitcoin mining and AI infrastructure. For example, excess energy generated during mining operations could potentially be utilized to power AI data centers. Furthermore, both fields are at the cutting edge of technology, fostering a culture of innovation within the company. Attracting New Investors: Diversification into a high-growth sector like AI can attract a broader range of investors, including those who may be interested in technology but hesitant about pure-play crypto investments. Challenges and Considerations for Hut 8’s Dual Strategy While the report paints a rosy picture, it’s important to acknowledge the challenges and considerations that come with managing both Bitcoin mining and AI infrastructure businesses: Challenge Description Operational Complexity Managing both Bitcoin mining and AI infrastructure requires diverse expertise and operational capabilities. Coordinating these two distinct business lines can be complex. Resource Allocation Deciding how to allocate capital and resources between Bitcoin mining and AI infrastructure projects requires careful strategic planning. Misallocation could hinder growth in either sector. Market Competition Both Bitcoin mining and AI infrastructure are competitive markets. Hut 8 faces competition from established players in both sectors. Regulatory Landscape Both cryptocurrency and AI are subject to evolving regulatory scrutiny. Navigating these regulatory landscapes effectively is crucial for long-term success. Actionable Insights: What Can We Learn from Hut 8’s Success? Hut 8’s impressive financial performance offers several key takeaways for businesses and investors in the cryptocurrency and technology space: * **Strategic Diversification is Key:** Relying solely on one revenue stream, especially in a volatile market like crypto, can be risky. Hut 8’s diversification into AI infrastructure showcases the benefits of expanding into complementary sectors. * **Long-Term Vision Pays Off:** Holding Bitcoin as a long-term asset, rather than just trading it, has proven to be a lucrative strategy for Hut 8. Patience and a long-term perspective can be crucial in the crypto space. * **Embrace Technological Convergence:** The intersection of cryptocurrency and AI is becoming increasingly important. Companies that can leverage synergies between these technologies are likely to be at the forefront of innovation and growth. * **Operational Excellence Matters:** Behind the headline figures, operational efficiency is paramount. Effective mining operations, cost management, and strategic resource allocation are essential for achieving profitability in Bitcoin mining and any business venture. Conclusion: Hut 8 Sets a New Benchmark in Crypto and AI Convergence Hut 8’s stunning $331 million net income in 2024 is more than just a financial milestone; it’s a testament to strategic foresight, operational excellence, and the power of diversification. By combining a strong foundation in Bitcoin mining with a bold move into AI infrastructure , Hut 8 is not only securing its financial future but also paving the way for a new era of convergence between cryptocurrency and artificial intelligence. Their success story serves as an inspiring example for the crypto industry and beyond, demonstrating that innovation and strategic diversification are the keys to long-term growth and resilience in the ever-evolving tech landscape. To learn more about the latest crypto market trends, explore our article on key developments shaping Bitcoin price action.
Bitcoin’s price volatility is driven significantly by exchange flows and a rising number of new wallet addresses, reflecting robust market dynamics. The recent surge in Bitcoin prices points to a
CoreWeave, an AI firm in close partnership with bitcoin miner Core Scientific (CORZ), filed for an initial public offering (IPO) today. The company is expected to raise $4 billion, with a valuation of more than $35 billion. Today's filing showed the company had seen $1.9 billion in revenue in 2024, resulting in a net loss of $863 million due to the firm's AI-related investments. The company currently carries an accumulated deficit of $1.5 billion. CoreWeave has enlisted Core Scientific's assistance to build 500 megawatts (MW) of infrastructure for AI-related purposes. The latter company used to be CoreWeave's biggest GPU supplier when the former was still mining ether. The move comes as demand for AI has spiked significantly amid the adoption of the tech from small retail users to large institutions. CoreWeave said that the AI industry will generate a cumulative global economic impact of $20 trillion, or 3.5% of global GDP, by 2030, according to IDC. The shares of CORZ are up 3.5% post-market trading. Read more: Bitcoin Miners Are Pivoting to AI to Survive. Core Scientific Entered the Race Years Ago
Just when the crypto market breathed a sigh of relief with Bitcoin’s recent price rebound, a new development has emerged that’s making investors sit up and take notice. Data reveals that significant movements of Bitcoin (BTC) by long-term holders, specifically whales who’ve held their assets for years, have occurred following this price uptick. Is this a routine portfolio adjustment, or are we witnessing early signs of a potential whale sell-off? Let’s dive into the details and explore what this unusual activity could mean for the future of Bitcoin and the broader crypto market. Understanding Bitcoin Long-Term Holders and Their Significance In the fascinating world of cryptocurrency, not all Bitcoin holders are created equal. Distinguishing between short-term traders and Bitcoin long-term holders is crucial for understanding market dynamics. Long-term holders, often referred to as ‘hodlers’ in crypto slang, are individuals or entities that have accumulated Bitcoin and held onto it for extended periods, often years. Their conviction in the asset’s long-term value is unwavering, and their actions can offer significant insights into market sentiment. Why are these long-term holders so important? Market Stability: Long-term holders are often seen as a stabilizing force in the volatile crypto market. Their reluctance to sell during price dips reduces selling pressure and can cushion market corrections. Price Discovery: Their holding behavior influences Bitcoin’s scarcity and supply dynamics. Reduced circulating supply, due to long-term holding, can potentially drive up prices over time. Market Sentiment Indicator: When long-term holders start moving their BTC, especially after a price increase, it can be interpreted as a shift in sentiment. Are they taking profits, anticipating a downturn, or simply rebalancing their portfolios? Whale Influence: Within the long-term holder category, ‘whales’ – entities holding very large amounts of Bitcoin – wield substantial influence. Their large transactions can significantly impact market prices and trigger broader market reactions. Shocking BTC Whale Movement After Price Rebound – What Does It Mean? Recent data from CryptoQuant reveals a noteworthy trend: BTC whale movement has picked up pace following Bitcoin’s recent price rebound. Specifically, whales who have been holding Bitcoin for extended periods, ranging from 5 to 10+ years, have started moving their assets. Let’s break down the numbers: Holder Duration BTC Moved Potential Interpretation 7-10 Years 180 BTC Possible profit-taking after long hold; Portfolio rebalancing 5-7 Years 1,453 BTC More significant profit-taking or strategic asset reallocation 10+ Years 120+ BTC Longest-term holders potentially adjusting positions; Could signal broader market outlook While the amounts moved might seem small in the grand scheme of Bitcoin’s market capitalization, the source of these movements – long-term whales – is what commands attention. These holders have weathered numerous market cycles, and their decisions often reflect a deep understanding of market trends and potential future trajectories. Is this a cause for alarm? Not necessarily. However, it’s crucial to consider the potential implications: Profit Taking: After a period of price stagnation or decline, a price rebound provides an attractive opportunity for long-term holders to realize profits. This is a natural market behavior and not inherently bearish. Portfolio Rebalancing: Whales, like any sophisticated investors, may periodically rebalance their portfolios. This could involve diversifying into other assets or adjusting their risk exposure. Early Sell-Off Signal?: The speculation of a potential whale selling event cannot be dismissed entirely. If a significant number of long-term holders begin to liquidate their positions, it could exert downward pressure on Bitcoin’s price and potentially trigger a broader market correction. Decoding Whale Behavior: Are Long-Term Holders Signaling a Market Shift? Interpreting crypto market analysis , especially when it involves whale activity, requires a nuanced approach. It’s rarely black and white, and attributing a single motive to these movements is often an oversimplification. Several factors could be at play: Macroeconomic Conditions: Global economic uncertainties, inflation concerns, and changes in interest rate policies can influence investment strategies across all asset classes, including Bitcoin. Whales might be adjusting their crypto holdings in response to broader economic shifts. Regulatory Landscape: Evolving regulations in the cryptocurrency space can impact investor sentiment and behavior. Anticipation of stricter regulations or favorable policy changes could prompt whales to reposition their assets. Market Cycle Dynamics: Bitcoin operates in cycles. Long-term holders are keenly aware of these cycles and may strategically time their moves based on perceived market tops or bottoms. A price rebound within a larger bearish trend might be seen as a temporary peak to sell into. Altcoin Opportunities: The crypto market is not just about Bitcoin. The rise of alternative cryptocurrencies (altcoins) and decentralized finance (DeFi) presents diversification opportunities. Whales might be reallocating some of their BTC holdings to explore these emerging sectors. To gain a clearer picture, it’s essential to monitor several key indicators in addition to whale movements: Exchange Inflows/Outflows: Increased inflows of Bitcoin to exchanges could suggest selling pressure, while outflows might indicate accumulation. On-Chain Metrics: Analyzing on-chain data, such as transaction volume, active addresses, and miner activity, can provide further context to whale movements. Order Book Analysis: Examining buy and sell orders on exchanges can reveal potential price levels of support and resistance, and offer clues about market sentiment. Navigating Crypto Market Volatility: Actionable Insights for Investors The recent Bitcoin price rebound and subsequent whale activity highlight the inherent volatility and dynamic nature of the cryptocurrency market. For investors, this underscores the importance of: Staying Informed: Keeping abreast of market news, on-chain data, and expert analysis is crucial for making informed investment decisions. Relying solely on price charts is insufficient. Diversification: Not putting all your eggs in one basket is a fundamental investment principle. Diversifying across different asset classes, including within the crypto space, can mitigate risk. Risk Management: Understanding your risk tolerance and setting appropriate stop-loss orders can protect your capital during market downturns. Long-Term Perspective: While short-term fluctuations are inevitable, maintaining a long-term perspective, especially in Bitcoin and other fundamentally sound cryptocurrencies, can be beneficial. Due Diligence: Before making any investment decisions based on whale movements or market speculation, conduct your own thorough research and consider consulting with a financial advisor. Conclusion: Decoding the Whale Whisper The movement of Bitcoin by long-term holders after the recent price rebound is a development that warrants close attention, but not necessarily panic. It could be a sign of profit-taking, portfolio rebalancing, or potentially, early indications of a shift in market sentiment among these influential players. By monitoring whale activity in conjunction with broader market indicators and macroeconomic factors, investors can gain a more comprehensive understanding of the evolving crypto landscape and navigate its inherent volatility with greater confidence. The ‘whale whisper’ might not be a definitive market predictor, but it’s certainly a signal worth listening to in the ever-intriguing world of cryptocurrency. To learn more about the latest crypto market trends, explore our article on key developments shaping Bitcoin price action.
Bitcoin’s price swings have been influenced by exchange flows and increasing activity in new wallet addresses.
U.S. President Donald Trump’s decision to include leading altcoins in the proposed U.S. strategic cryptocurrency reserve has elicited sharp reactions both in favor of the move and opposing it. Among those responses, U.S. economist and crypto skeptic Peter Schiff said he opposes a Bitcoin reserve, but opposes a reserve with a mix of cryptocurrencies even more strongly. “I get the rationale for a Bitcoin reserve. I don’t agree with it, but I get it,” Schiff wrote in an X post. “But what’s the rationale for an XRP reserve? Why the hell would we need that?” Schiff awakens support for altcoins in the reserve The crypto X community had answers for Schiff. One of the strongest defenders of Ripple’s XRP was Cardano co-founder Charles Hoskinson. “Because XRP is great technology, a global standard, survived for a decade through many harsh cycles, and has one of the strongest communities,” he responded . Cardano’s ADA was also tapped for the potential reserve. Others touted XRP in the reserve for the same advantages it has on the market — low fees, liquidity and fast transactions. Panos Mekras, co-founder and CEO of Anodos Finance, also entered the fray on XRP’s side. “Because XRP is simply better in everything,” he said . Anodos Finance and its partner Safe Haven have integrated Safe Haven’s SHA token into XRP Ledger. Schiff countered: “OK, but do we also need a reserve of ETH, SOL, or ADA? Do we need reserves of those? Why not include Fartcoin? Also, about an NVDA reserve? or APPL? Are those valuable companies?” Choice of altcoins for the reserve also questioned There has been a welter of debate around that question. Many noted that the inclusion of altcoins in the reserve would make investors in those coins happy. Coinbase CEO Brian Armstrong also expressed support for a Bitcoin-only reserve, but added , “If folks wanted more variety, you could do a market cap weighted index of crypto assets to keep it unbiased.” President of venture capital firm Coinfund Christopher Perkins suggested : “Once the Stablecoin Bill is passed (assuming regulators don’t get the reg cap wrong), the market cap of stablecoins is going to go up…like a lot. … If the ‘gas’ tokens of the blockchains that hold them (including $ETH and $SOL) aren’t strategic, then I don’t know what is.” Maybe stick with the gold reserve? Schiff was annoyed by reactions to his post in the crypto press, where many writers interpreted it as support for a Bitcoin reserve. Schiff, the principal owner of SchiffGold, put a new spin on the proposed cryptocurrency reserve the following day when he posted : “If the U.S. government actually did buy crypto, it would be bullish for gold. By subsidizing the crypto industry, the government would divert scar[c]e resources away from the productive sectors of the economy. That would result in larger trade and budget deficits and a lower dollar.” In other words, any cryptocurrency reserve would be likely to slow economic growth and increase inflation, among other undesirable effects. Gold might serve a hedge against those trends. That point of view was also challenged. “So, semiconductors, blockchain and artificial intelligence are not productive sectors of the economy? What are you smoking?” a commenter asked . Others challenged the assumption that gold was economically more beneficial than Bitcoin. Gold is also subject to volatility and is not easily convertible, and no one knows exactly how much of it there is. Schiff reminded his audience that the cryptocurrency strategic reserve is not a done deal. Polymarket gives the odds of such a reserve being created in Trump’s first 100 days in office as 19%. Trump’s executive order created a working group. In the words of Trump himself: “My Executive Order on Digital Assets directed the Presidential Working Group to move forward on a Crypto Strategic Reserve that includes XRP, SOL, and ADA.” Cryptopolitan Academy: Want to grow your money in 2025? Learn how to do it with DeFi in our upcoming webclass. Save Your Spot