Good morning crypto insiders, in this article we present a summary of the most important events in the crypto world that took place last night.
This way you can quickly find out about the latest developments. More detailed articles on these topics will appear on Crypto Insiders later today.
Bitcoin ETFs are seeing outflows for the fourth day in a row
It remains a bad week for the new Bitcoin (BTC) exchange traded funds (ETFs). U.S.-listed funds posted net outflows for the fourth straight day on Thursday.
At $94 million, it was the lowest single-day outflow this week. This is primarily due to the fact that the inflow to BlackRock increased slightly again to $233.4 million. Grayscale outflows remained high at $358.8 million.
ETF expert Eric Balchunas from Bloomberg is surprised that the outflow is still so high. He expects it The worst is almost over is, but he said that a month ago.
Higher Bitcoin prices at the end of this year, but a correction first?
Despite the underperformance of ETFs this week and of course the Bitcoin price correction, many analysts still expect significantly higher prices by the end of the year.
For example, Bernstein increased his Bitcoin price forecast from $80,000 to $90,000 by the end of 2024.
However, not everyone is convinced that the current correction is over. Analysts at JPMorgan, the world’s largest bank, say Bitcoin is still in “oversold territory” even after the correction.
Combined with the upcoming Bitcoin halving, analysts expect more investors to take profits ahead of the event, which could put pressure on the price.
USA sues Apple, possible consequences for crypto apps
The US government suddenly sued Apple.
Apple’s App Store policies establish “a set of changeable rules and restrictions” that allow the company to “charge higher fees, stifle innovation, provide a less secure or inferior user experience, and limit competitive alternatives,” it said US Department of Justice.
This issue could be the reason why many crypto-based apps offer limited functionality on iOS devices today.