Outflows from Digital Asset Funds
After the expected ETF decision did not come last week, some selling pressure was seen in digital asset funds and as a result, outflows were seen in the weekly cash flow report. While the total outflow was 55 million dollars, BTC outflows were 42 million dollars and Ethereum outflows were 9 million dollars. Short-Bitcoin assets 17. We see that altcoin funds are also sold in low amounts, while outflows have been realized for weeks in a row.
Unlocking to take place in Avalanche
A significant amount of assets will be unlocked on Saturday in AVAX, which has been negatively decoupled for a long time and returned to its lows in the $ 10 region. In total, 9.54 million tokens are expected to be unlocked, which translates to approximately $100 million. It is known that Avalanche will increase its token supply by 25%, or 84.2M AVAX, until next year. Of the 9.54 million tokens to be unlocked, 2.25M will be distributed to strategic partners, 1.67M to the Avalanche Foundation, 4.5 million to the Avalanche team, and 1.1 million to airdrops.
SEC Charges Fintech Company with Crypto
The SEC is charging fintech company Titan Global Management with deceptive advertising of crypto asset performance metrics and failure to make required disclosures about crypto asset custody. Titan will accept the fine and pay a fine of $850,000. It was stated that the SEC intervened after the company’s advertisements mentioned extreme levels, and that the company’s annual performance data was raised by 2700%.
Vitalik Moved His Ethereum, Ethereum Lost Value
A wallet belonging to Ethereum founder Vitalik Buterin sent 600 Ethereum worth 1 million dollars to Coinbase. He made a loan payment on Buterin’s Maker protocol and then withdrew 1000 ETH. He then sent 600 Ethereum to Coinbase. Vitalik made a similar move in May, after which the Ethereum Foundation sent 15,000 Ethereum to the same exchange. After these and similar moves by Vitalik, these moves are characterized as a telegram in which Vitalik gives his opinion before the market’s decline.
Short-Term Traders Hold 1.3 Million Bitcoin Positions at a Loss
Bitcoin’s fall to the 26,000 region caused an 82% drop in short-term investor profits. Thus, the 1.28 million Bitcoin position held by short-term investors turned into a loss. It is said that this amount may put pressure on the price if the selling pressure continues.
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BITCOIN(BTC)
Bitcoin is priced at $ 26,041 with a 0.33% loss in value as of today morning hours. Bitcoin, on the hourly chart, we see an ongoing movement in the range of 25,800-26,000-26,300. After the sale on Thursday, we can say that the volume continued to remain below average and Bitcoin continued its horizontal movement in this process. The Grayscale-SEC case decision, which is likely to come today, may cause significant price movements.
ETHEREUM (ETH)
ETH, which lost 0.28% as of morning hours, is priced at $ 1662. Similarly, we see that the horizontal movement continues in the range of 1655-1695 in Ethereum. We see that Ethereum, which fell a little more yesterday after Vitalik transferred Ethereum to the exchanges, is still priced above the support level. If Ethereum breaks down, we can say that we may encounter negative divergences, especially on the Layer-1 side.
