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Crypto
CryptoQuant says bitcoin is near a bottom but lacks demand to support a rebound
Bitcoin has moved closer to what analysts see as a bear-market bottom after briefly slipping below $60,000, but demand across spot and derivatives markets is weakening, CryptoQuant said. The on-chain analytics firm put bitcoin’s realised price at about $53,600, 13 percent below the current trading price of around $61,680. It said recent data point to the sharpest one-week demand destruction since January 2022, while spot bitcoin ETFs have seen cumulative outflows topping $4.8 billion since May 14.
Crypto
Ethereum trapped in range as whales step up buying, ETFs turn to net inflows
Ethereum is holding in a range below $2,400, with large whale holders buying more than 140,000 ETH from May 1 to 3, worth about $322 million, Santiment data show. Derivatives positioning has entered a zone with heavy liquidation pressure, with long liquidations clustered below $2,206 and short liquidations above $2,412, CoinGlass data show. Ethereum spot ETFs turned to net inflows on May 1, led by BlackRock’s ETHA and Fidelity’s FETH, Farside Investors data show.
Crypto
Bitcoin spot ETFs\' inflow streak ends as failure to reclaim $80,000 adds uncertainty
U.S.-listed bitcoin spot exchange-traded funds recorded a net outflow of $263 million, ending a nine-session streak of inflows. Bitcoin slipped below $77,000 and failed to reclaim $80,000. Outflows were concentrated in major products, led by Fidelity’s FBTC. Ethereum spot ETFs also saw outflows, while no new money entered XRP or Solana spot ETFs. An analysis cited forced liquidations in derivatives markets as a key driver of the recent drop.
