Investors trimmed exposure to Bitcoin funds amid US policy uncertainty, even as Bitwise’s new Solana staking ETF attracted strong debut inflows last week. Cryptocurrency investment products saw $360 million in outflows last week as investors reacted to Federal Reserve Chair Jerome Powell’s cautious remarks on future rate cuts. Despite Wednesday’s rate cut, Powell’s remark that another one in December was “not a foregone conclusion,” combined with the absence of economic data due to the ongoing government shutdown, appears to have left markets uncertain, CoinShares reported on Monday. Most of the selling pressure came from the US markets, which saw $439 million in outflows, partly offset by modest inflows from Germany and Switzerland. Bitcoin exchange-traded funds (ETFs) led the decline, with $946 million in redemptions. Read more
Ethereum’s price risked a deeper correction toward $2,800 as institutional demand through ETH ETFs and treasury companies declined Key takeaways: Ethereum ETFs experienced outflows for three consecutive days, totaling $364 million. Strategic Ether reserves and ETF holdings have dropped by 124,060 ETH since mid-October. Read more
Dash’s setup mirrors Zcash’s pre-breakout phase, hinting at a possible 400% rally if it breaks above a multiyear technical resistance zone. Key Takeaways: Dash’s technical setup mirrors Zcash’s pre-breakout structure, implying a potential for a multi-hundred percent rally. Failure to break out could trigger a correction toward $69 or even the $14–$16 range. Read more
IREN’s Microsoft partnership underscores how Bitcoin miners are reinventing themselves as AI infrastructure providers amid tightening margins. Bitcoin mining company IREN (IREN) has signed a multi-year GPU cloud services contract with Microsoft, highlighting the growing integration between traditional mining infrastructure and the expanding demands of Big Tech for AI computing power. The five-year agreement, valued at $9.7 billion, will provide Microsoft with access to Nvidia GB300 GPUs hosted within IREN’s data centers. In a related move, IREN also announced a $5.8 billion deal with Dell Technologies to acquire GPUs and related equipment. The company plans to fund its capital expenditures through a combination of cash reserves, customer prepayments, operational cash flow, and additional financing. Read more