ETP sentiment cooled in the latter half of last week amid reports of US involvement in the Iran conflict. Cryptocurrency investment products continued to attract strong investor interest last week despite major crypto assets like Bitcoin and Ether posting notable price drops. Global crypto exchange-traded products (ETPs) recorded $1.24 billion of inflows for the trading week ending Friday, CoinShares reported on Monday. With the latest inflows, crypto ETPs continued breaking year-to-date (YTD) inflow records, setting a new historic high at $15.1 billion, said CoinShares’ head of research, James Butterfill. Read more
Whales are betting hundreds of millions on Ether’s price recovery despite the industry’s most successful traders being net short amid escalating conflict in the Middle East. Ether whales are betting hundreds of millions of dollars on the price recovery of the world’s second-largest cryptocurrency despite geopolitical tensions that are sidelining investors and dampening risk appetite. One whale (a large cryptocurrency investor) has opened an Ether (ETH) long position of over $101 million with 25x leverage at the entry price of $2,247, according to blockchain data from Hypurrscan. The investor generated over $900,000 in unrealized profit, but paid over $2.5 million in funding fees. His position stands to be liquidated if Ether’s price falls below $2,196. Read more
aSoace, a Romanian-held operator of co-working spaces, continues expansion with an almost 1,000 square meter space in the Victoriei 222 building in downtown Bucharest, owned by Sol Property Investment.
Bitcoin is about to juggle a slew of geopolitcal and macroeconomic volatility triggers in a nail-biting end to June as $100,000 support hangs in the balance. Bitcoin (BTC) enters the last week of June with geopolitics at a key crossroads and macro volatility to match. Where will BTC head next? Bitcoin traders are bracing for new lows as exchange order book liquidity shifts toward the $90,000 mark. The latest developments in the Middle East sparked knee-jerk reactions on crypto, oil and stock futures, but analysis notes that no “long-term conflict” is being priced in. Read more