Today’s central theme is a contradiction: prices are falling, but money is flowing back in.
Today’s headlines
1. $BTC fell below $80,000. Reports attributed the drop to a combination of AI stock sell-offs and ETF outflows. FOMC and tech earnings are also on the calendar this week, and analysts put the next support level at $75,000.
2. U.S. spot Bitcoin ETFs saw net inflows of $301 million last week, ending two consecutive weeks of net outflows. But the flow was uneven: inflows were strong during the first three days of the week, then shifted to large redemptions, leaving the week barely in positive territory.
3. Strategy neither bought nor sold Bitcoin last week. Instead, it repurchased $205 million worth of STRC preferred shares, and its U.S. dollar cash balance fell 46% to $242.4 million. Its holdings account for about 4% of the total supply cap, with unrealized gains of roughly $3.9 billion.
4. India’s CoinDCX confirmed that 15.99 million USDT was transferred out of a retired wallet. Just days earlier, the CEO had called it “a false alarm.” The two incidents have resulted in combined losses of nearly $60 million, with the company covering the latest loss itself.
5. Hardware wallet maker Keystone disclosed an upgrade to its breach notice: in addition to customer information, the keys used to verify device authenticity were also stolen, meaning counterfeit devices may be able to pass official verification.
6. Electrum patched a critical vulnerability. The confirmed attack method involves a malicious server replacing a pending transaction and tricking users into sending Bitcoin to an attacker’s address.
7. Ripple received final OCC approval to establish a national trust bank. RLUSD reserves and custody will fall under federal oversight, while the issuer remains in New York State—creating a dual-track structure in which issuance is overseen by the state and reserves by the federal government.
8. Aviva Investors put tokenized shares of its £29 billion money market fund on the $XRP Ledger. This is its second tokenized share fund.
9. BlackRock, SBI, and Startale signed a memorandum of understanding to explore connecting tokenized money market funds with SBI’s yen stablecoin, JPYSC.
10. Canada launched a 60-day consultation on stablecoins. The proposals require 1:1 reserves, support for rapid redemptions, a redemption fee cap of 1%, and a continued ban on interest payments.
Levels to watch
$80,000. A daily close above $80,000 and a return to positive daily net ETF inflows would count as confirmation. If the daily close remains below $80,000 and ETFs see net outflows for two consecutive days, the $75,000 support level will likely be tested.
What do you think: will ETF money turn around first, or will prices bottom first? Drop a number in the comments, or simply share your view.
Today’s headlines
1. $BTC fell below $80,000. Reports attributed the drop to a combination of AI stock sell-offs and ETF outflows. FOMC and tech earnings are also on the calendar this week, and analysts put the next support level at $75,000.
2. U.S. spot Bitcoin ETFs saw net inflows of $301 million last week, ending two consecutive weeks of net outflows. But the flow was uneven: inflows were strong during the first three days of the week, then shifted to large redemptions, leaving the week barely in positive territory.
3. Strategy neither bought nor sold Bitcoin last week. Instead, it repurchased $205 million worth of STRC preferred shares, and its U.S. dollar cash balance fell 46% to $242.4 million. Its holdings account for about 4% of the total supply cap, with unrealized gains of roughly $3.9 billion.
4. India’s CoinDCX confirmed that 15.99 million USDT was transferred out of a retired wallet. Just days earlier, the CEO had called it “a false alarm.” The two incidents have resulted in combined losses of nearly $60 million, with the company covering the latest loss itself.
5. Hardware wallet maker Keystone disclosed an upgrade to its breach notice: in addition to customer information, the keys used to verify device authenticity were also stolen, meaning counterfeit devices may be able to pass official verification.
6. Electrum patched a critical vulnerability. The confirmed attack method involves a malicious server replacing a pending transaction and tricking users into sending Bitcoin to an attacker’s address.
7. Ripple received final OCC approval to establish a national trust bank. RLUSD reserves and custody will fall under federal oversight, while the issuer remains in New York State—creating a dual-track structure in which issuance is overseen by the state and reserves by the federal government.
8. Aviva Investors put tokenized shares of its £29 billion money market fund on the $XRP Ledger. This is its second tokenized share fund.
9. BlackRock, SBI, and Startale signed a memorandum of understanding to explore connecting tokenized money market funds with SBI’s yen stablecoin, JPYSC.
10. Canada launched a 60-day consultation on stablecoins. The proposals require 1:1 reserves, support for rapid redemptions, a redemption fee cap of 1%, and a continued ban on interest payments.
Levels to watch
$80,000. A daily close above $80,000 and a return to positive daily net ETF inflows would count as confirmation. If the daily close remains below $80,000 and ETFs see net outflows for two consecutive days, the $75,000 support level will likely be tested.
What do you think: will ETF money turn around first, or will prices bottom first? Drop a number in the comments, or simply share your view.