The price of bitcoin continues to tank, declining to a low of $79,170 per unit on Monday, March 10, 2025. The leading crypto asset is mirroring U.S. equities as recession anxieties ignite a widespread sell-off. Economic Jitters Drive Bitcoin Lower Bitcoin (BTC) has lost an additional 5.2% against the U.S. dollar on Monday following a
Bitcoin’s market struggles continue as Wall Street experiences a significant downturn, pushing the cryptocurrency closer to pivotal support levels. As traders evaluate the impacts of reduced government spending and a
As highlighted in a recent CoinDesk report, the Cayman Islands is set to modernize its regulatory framework for cryptocurrency with the introduction of the Virtual Asset Service Providers (Amendment) Act.
The post Bitcoin and Ethereum Funds Lost $876 Million Despite Trump’s Strategic Crypto Reserve Announcement appeared first on Coinpedia Fintech News Despite President Trump implementing several crypto-friendly measures, such as creating a strategic crypto reserve, the market did not see an increase in buying demand. Last week, the crypto market experienced a decline, with major losses across Bitcoin, Ethereum, and other crypto exchange-traded products. According to a CoinShares report, crypto ETPs have collectively lost $4.75 billion over the past four weeks. Last week alone, $876 million was withdrawn from these funds. Market Struggles Despite Strategic Crypto Reserve Following President Donald Trump’s executive order to establish a strategic bitcoin reserve for the United States, the crypto market has seen a sharp decline. In the past week, there has been a significant exodus from crypto-related funds. Investment products in the global crypto market, managed by major asset managers like BlackRock, Bitwise, Fidelity, Grayscale, ProShares, and 21Shares, experienced net outflows of $876 million last week. This decline was triggered by Trump’s decision to impose more tariffs. This marks the fourth consecutive week of outflows, with a total loss of $4.75 billion during this period, reducing the year-to-date inflows to $2.6 billion. James Butterfill, CoinShares Head of Research, noted in recent report , “Although this indicates a slowdown in the pace of outflows, investor sentiment remains bearish.” It’s probably not surprising to hear that U.S. investors withdrew $922 million from crypto funds, as mentioned in the report. This is happening at the same time President Donald Trump is raising a trade war with major trading partners like Canada, Mexico, and China. Also read: Why Crypto Market is Crashing? Trump’s Tariff War Wipes Out $800 Billion Also, last week, President Trump followed through on his promise to set up a national Bitcoin reserve and a stash of other cryptocurrencies. However, the way it was done seems to have disappointed many traders. Assets under management at these funds have shrunk by $39 billion from their peak, bringing the total down to $142 billion. This is the lowest level observed since just after the U.S. presidential election in November. High Inflation Boosts Market Decline In the last month, outflows from ETFs have resulted in a 10% drop in the total cumulative inflows. This shows rising investor fear and suggests that many investors may have already filled their intended cryptocurrency allocations. Besides tariffs, the rising US inflation is playing a key role in the recent crypto market crash. Given the U.S. jobs report released on Friday, the sentiment turned toward challenging weekend in the crypto markets. The report showed a rise in unemployment to 4.1%, putting the Federal Reserve in a tough spot to choose between focusing on economic growth or managing inflation, according to statement. The Federal Reserve’s Open Markets Committee is scheduled to announce its decision on inflation on the upcoming March 19th. As of now, based on the CME FedWatch Tool, investors believe there’s approximately a 3% chance that the FOMC will decide to lower interest rates.
Key Takeaways: Established fund managers are expanding their portfolios by incorporating digital asset strategies. The emerging investment product is designed to offer streamlined crypto exposure without the traditional technical hurdles. Its launch is part of a wider movement to blend regulated financial instruments with breakthrough blockchain technologies./span> Observers see this development as a signal of evolving market dynamics in the digital asset landscape. REX Shares and Osprey Funds have filed to launch a new ETF on Monday that will track MOVE, the recently launched cryptocurrency. According to the filing , the REX-Osprey MOVE ETF will invest at least 80% of its net assets (plus any borrowings for investment purposes) in MOVE and other assets that provide exposure to MOVE. Recently launched crypto MOVE gets an ETF already REX-Osprey MOVE ETF Ticker/Fees: that Effective Date: May 21, 2025 MOVEment cryptocurrency was launched last Dec 9. https://t.co/Vl7YRTNtzy REX Osprey ETFs: https://t.co/eoKq2qIP6t Preliminary prospectus:… pic.twitter.com/9blFJwQHiP — ETF Hearsay by Henry Jim (@ETFhearsay) March 10, 2025 If approved, the REX-Osprey MOVE ETF, with the ticker symbol “MOVE,” is set to go live on May 21, 2025, pending regulatory clearance. The ETF will track the performance of the MOVE cryptocurrency, which was introduced on December 9, 2024 by Movement Labs . What Is MOVE? MOVE has attracted attention due to its practical use cases and underlying blockchain technology. With demand for crypto investment products rising, the ETF offers institutional and retail investors exposure to MOVE without requiring them to directly handle wallets, private keys, or other technical complexities of cryptocurrency ownership. The application arrives as crypto-based funds gain popularity, particularly with major firms like BlackRock and Fidelity entering the market. REX and Osprey’s Experience in ETF Market REX Shares and Osprey Funds are both well-known in the ETF space, with a portfolio that includes products focused on emerging sectors, such as digital assets. Adding the MOVE ETF to their offerings positions the firms at the intersection of traditional finance and digital assets. For more details, the preliminary prospectus of the REX-Osprey MOVE ETF can be found in the SEC filing. As the launch date approaches, investors are closely watching how this ETF might influence the cryptocurrency market. MOVE Token Launched in December The MOVE token went live December 9, quickly surging after listing. According to Cryptonews writer Simon Chandler, the token’s fundamentals as the native currency of the Movement layer-two network currently make it one of the best crypto to buy at the moment. Considering Movement’s potential as a promising layer-two solution, Chandler believes MOVE could soon experience renewed growth. Despite news of the ETF filing, the MOVE token price declined by 3.16% in the past 24 hours. The drop in MOVE token’s price reveals an interesting contradiction in the crypto industry—new financial products may generate investor interest, but they don’t always drive token prices higher. This situation reflects the ongoing push and pull between traditional finance and the crypto market. Will investment vehicles like the MOVE ETF contribute to greater market stability, or will cryptocurrencies continue to defy conventional trends, preserving their unpredictability? The post REX Shares and Osprey Funds File to Launch MOVE ETF appeared first on Cryptonews .
Uncertainty in risk markets impacts cryptocurrency values negatively. US inflation expectations are rising, causing public concern about finances. Continue Reading: Economic Turmoil Signals Trouble for Crypto Markets The post Economic Turmoil Signals Trouble for Crypto Markets appeared first on COINTURK NEWS .
Bitcoin ( BTC ) sought a rematch with multimonth lows on March 10 as familiar selling accompanied the start of Wall Street trading. BTC/USD 1-hour chart. Source: Cointelegraph/TradingView BTC price sags closer to new four-month lows Data from Cointelegraph Markets Pro and TradingView showed BTC/USD down around 4% on the day to reach $79,170 on Bitstamp. Weakness into the weekly close continued as risk assets across the board suffered a flight to safety. Stocks fell substantially at the open, with the S&P 500 and Nasdaq Composite Index down 2% and 3.5%, respectively. Reacting, trading resource The Kobeissi Letter said that US government spending cutbacks at the hands of the Department of Government Efficiency (DOGE) played a role in the slump. “While everyone is focused on the trade war, do not discount the impact of reduced government spending expectations,” it wrote in part of its latest analysis on X. “Government spending and job growth have been ‘fueling’ the economy. DOGE's cuts will be felt.” S&P 500 1-day chart. Source: Cointelegraph/TradingView Kobeissi noted that crypto markets had erased $1 trillion in market cap in just two months. “The rally after the U.S. Strategic Reserve was announced has been completely erased,” it added on BTC/USD. Market participants’ views were mixed as it became unclear where BTC price action might put in a more reliable floor. Popular trader and analyst Rekt Capital advised X followers to look for rising relative strength index (RSI) values against lower prices for reversal cues. “Going forward, it'll be worth watching for Bitcoin to form Lower Lows on the price action and Higher Lows on the RSI for a Bullish Divergence to develop,” he wrote about daily timeframes. BTC/USD 1-day chart with RSI data. Source: Rekt Capital/X A further post noted that the current bull cycle had produced bounces whenever the daily RSI was below 28. Specifically, “Bitcoin's price would either bottom or be between -2% to -8% away from a bottom,” he explained. Daily RSI stood at 33.2 at the time of writing. BTC/USD 1-day chart with RSI data. Source: Rekt Capital/X Bybit hack remains the elephant in the room Elsewhere, trading firm QCP Capital pinned the blame for the broader crypto market downside on sell-offs tied to last month’s hack of crypto exchange Bybit. Related: Biggest red weekly candle ever: 5 things to know in Bitcoin this week “Today's price selloff may also be exacerbated by holders preemptively front-running further hacker-driven supply, now that the hackers have shown willingness to cash out rather than risk further losses — having already seen their stolen assets depreciate by 25%,” it wrote in its latest bulletin to Telegram channel subscribers. “In response, risk reversals have become even more bid for Puts over the past 24 hours, reflecting growing concerns over additional selling pressure.” QCP data showed market expectations becoming more optimistic only from Q3 onward. “Until crypto finds a new narrative, we're likely to see an increased correlation between BTC and equities in the near term,” it concluded, referencing upcoming US macroeconomic data releases. “Both risk assets are currently trading near their recent lows, and with tariff risks still looming, volatility could pick up heading into key U.S. macro data releases — CPI (Wed) and PPI (Thu).” This article does not contain investment advice or recommendations. Every investment and trading move involves risk, and readers should conduct their own research when making a decision.
Coinbase's 24/7 crypto futures could enhance US market competitiveness, aligning domestic trading with global crypto activity and standards. The post Coinbase to launch first 24/7 Bitcoin and Ethereum futures in the US appeared first on Crypto Briefing .
How great are chances of seeing ongoing decline of Ethereum (ETH)?
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