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Net inflows to U.S. spot bitcoin ETFs slowed to their lowest level this month on Thursday as bitcoin’s price retreated sharply from its latest all-time high.The spot bitcoin ETFs also witnessed their third-largest day by trading volume as cumulative volume since launch reached $136 billion.
Several altcoins have suffered double-digit price drops today.
The price of bitcoin has dropped by over 8% in the past 24 hours, hovering above the $67,000 mark.The latest price correction has impacted long positions, with over $278 million in bitcoin longs liquidated.
Friday has come around again and that means Bitcoin options expiry day with a large batch of contracts ready to go.
We might see Bitcoin reaching its cycle top this year, but further analysis suggests a 20% correction is necessary before taking off to new heights.
In the past 24 hours, many new popular tokens and topics have emerged in the market, which could potentially be the next wealth creation opportunity.
- 13:31Securitize Tokenized On-Chain Assets Have Surpassed $1 Billion, Launches New Fund Administration ServiceSecuritize, whose tokenized on-chain assets have surpassed $1 billion, launched a new fund management service on October 31st. The company is launching a new business called Securitize Fund Services to streamline the operational and compliance tasks associated with creating new blockchain-based real-world asset products. The fund management service will help firms such as BlackRock and Hamilton Lane create new crypto-based funds, while also assisting with regulatory compliance, tax services, financial reporting and record keeping.
- 13:30MicroStrategy Launches “21/21 Plan” to Raise $42 Billion to Invest in Bitcoin Over Next Three YearsMicroStrategy has announced the launch of a $42 billion Bitcoin investment program, with plans to raise $42 billion in new capital for the purchase of Bitcoin over the next three years, according to Fortune magazine. Called the 21/21 Plan, the new financing program aims to obtain $21 billion through equity offerings and another $21 billion through fixed-income securities between 2025 and 2027.
- 13:21Economist: Fed may pause rate cuts next weekOn October 31, Peter Cardillo, chief market economist at Spartan Capital Securities, said that hints that inflation could rise further were largely confirmed in today's data, and the tricky part here is the core PCE. this means that the Federal Reserve is likely to pause on rate cuts at its next meeting. It is more likely than ever that the Fed will pause in cutting rates. Consumption remains strong and we've seen that in other macro indicators. We're at a point where the economy is running pretty well, but inflation remains an issue and core PCE continues to be somewhat on the high side. That's a concern, and it means the Fed could pause on rate cuts next week.
