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Bitcoin’s rebound approaches the $85,000 zone where past buyers may sell

Bitcoin and Ethereum extended their weekend recovery, although on-chain indicators and derivatives positioning suggest the rebound faces significant obstacles. Data from CryptoSlate showed that Bitcoin briefly climbed above $84,000 after falling toward $80,000 during last week's selloff. Ethereum also recovered above $2,500, reversing part of its recent losses as buying activity returned to the cryptocurrency …

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Bitcoin hedge funds face a liquidation trap when their collateral is split across markets

Here's a hypothetical situation: a hedge fund is making money, but one of its exchanges is about to liquidate its position anyway. Bitcoin has fallen, its short position on CME is profitable, and the matching long on Hyperliquid is bleeding cash. The two trades were designed to offset each other, but Hyperliquid can't use profits …

Read at CryptoSlate

XRP ETFs extend a 13-week inflow streak as Bitcoin, Ethereum and Solana funds shed $1.25 billion

US-listed XRP ETFs extended their inflow streak to 13 weeks as Bitcoin, Ethereum and Solana funds suffered nearly $1.25 billion in combined withdrawals during the week ended Oct. 9. Bitcoin ETFs recorded $681.1 million in net withdrawals, while Ethereum products shed $542.07 million and Solana funds lost $24.81 million, according to SoSoValue’s Bitcoin, Ethereum and …

Read at CryptoSlate

Being right about Bitcoin won’t save your 3x leveraged ETF position

Bitcoin's next recovery could vindicate your investment thesis but leave your leveraged fund deep in the red, because the fund's daily reset can make waiting a pretty expensive habit. Getting Bitcoin right and actually making money on Bitcoin are becoming two different skills, especially now that Wall Street is preparing products for people who don't …

Read at CryptoSlate

Bitcoin’s weekend rebound faces an $80,400 test after nearly $730 million in ETF outflows

Bitcoin traded near $82,900 in PerpFinder’s Oct. 10, 09:36 UTC snapshot, with traders watching whether the weekend rebound brings fresh leverage or further position unwinding. The same snapshot put Binance BTC futures open interest at $7.70 billion and showed longs receiving funding, indicating negative funding. Saturday’s Deribit expiry has already settled at 08:00 UTC; Sunday’s …

Read at CryptoSlate

Bitcoin miners escape months of distress as daily revenue surges by 78%

Bitcoin miners are emerging from months of financial pressure as rising BTC prices lift daily industry revenue by 78%. According to CryptoQuant's weekly report shared with CryptoSlate, total daily mining revenue climbed from approximately $27 million at July's lows to as much as $48 million, following Bitcoin's roughly 45% recovery from $58,000 to above $83,000. …

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Bitcoin crashes through $81,000 buy wall as $1 billion crypto liquidation bloodbath unfolds

Bitcoin registered an intraday low near $80,000 as a cryptocurrency selloff triggered over $1 billion in liquidations, overwhelmingly hitting traders betting on higher prices. The largest cryptocurrency traded around $80,744 as of press time, down 3% over 24 hours and roughly 4% over the past week, extending a retreat from its recent attempt to reclaim …

Read at CryptoSlate

Bitcoin’s slide below $81,000 exposes why a Fed pause may not save the crypto market

Bitcoin slid below $81,000 on Oct. 8, with an intraday low near $80,800, even as traders expect the Fed to hold in October. The September FOMC minutes, released Oct. 7, said most participants viewed another rate increase by year-end as probable and left decisions dependent on data. December remains an expectation inferred from the policy …

Read at CryptoSlate

US government moves another $1 billion in Bitcoin as BTC slides $4,000

US government-linked wallets moved over $1 billion in Bitcoin on Oct. 8 as BTC prices fell and more coins reached Coinbase Prime. On Oct. 8, Galaxy Research flagged the transfer of 12,267 BTC, valued at approximately $1 billion, from a government-controlled address holding assets recovered from the 2016 Bitfinex hack. The Bitcoin initially moved to …

Read at CryptoSlate

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