Do Kwon`s alleged fraud has caused unprecedented losses globally. Prosecutors predict over a million people may be affected by the Terra collapse. Continue Reading: How Do Kwon’s Fraud Impacted Over a Million Lives The post How Do Kwon’s Fraud Impacted Over a Million Lives appeared first on COINTURK NEWS .
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Top Cardano (ADA) Price Forecasts: Further Decline or a Rise to a New ATH?
TL;DR Analysts highlight a potential breakout for ADA, supported by bullish chart patterns and upcoming developments for Cardano. However, recent whale sales of millions of tokens could negatively affect the price. The Bullish Scenario Despite the solid start to the year, the past few days have not been kind to the cryptocurrency market. Bitcoin’s (BTC) price has plummeted by around 9% on a 48-hour scale , while numerous altcoins have suffered even more substantial declines. Cardano’s ADA is one of those, with its valuation dumping by 20% since January 7. Currently, it trades at around $0.91 (per CoinGecko’s data), while its market capitalization fell well below $35 billion. The popular X user Dan Gambardello, though, remains an optimist. Recently, he claimed that ADA has “one of the most bullish weekly pattern setups in crypto,” which represents an “inverse head and shoulders with upward sloping neckline.” Gambradello assumed that a breakout to the upside could result in a price rally to as high as $7. Altcoin Daily chipped in, too. At the start of the year, they outlined bullish predictions about multiple cryptocurrencies, envisioning ADA’s valuation to hit $6.45 sometime in 2025. It is worth mentioning that the analyst said this target should not be taken for granted, suggesting that “any altcoin can theoretically go to zero at any time. “ They also warned people to invest only as much as they are ready to lose. Meanwhile, Cardano is set to undergo some essential developments in the next 12 months that could trigger upward pressure on the price of the native token. Those willing to check what’s on the agenda can take a look at our dedicated video below: How About a Further Pullback? Contrary to the aforementioned bullish predictions, some factors signal that ADA could continue plunging in the near future . Earlier this week, the X user Ali Martinez revealed that whales have sold over 70 million tokens in the span of 48 hours. Such actions from large investors increase the circulating supply of ADA and could be followed by a price decline (assuming demand doesn’t catch up with the pace). Additionally, the move may discourage smaller players and trigger a more substantial selling spree. The post Top Cardano (ADA) Price Forecasts: Further Decline or a Rise to a New ATH? appeared first on CryptoPotato . CoinTurk News
U.S. Spot Bitcoin ETFs Witness $569.02M Net Outflows on January 8
U.S. spot Bitcoin ETFs recorded significant net outflows of $569.02 million on January 8, marking a sharp reversal following three consecutive days of net inflows. This trend highlights potential shifts in investor sentiment or short-term profit-taking in the volatile crypto market. Notably, some of the largest players in the Bitcoin ETF space, including Fidelity, ARK Invest, and BlackRock, bore the brunt of these withdrawals, with no ETFs reporting net inflows on the day. Major Players in the Outflow Trend The net outflows on January 8 were distributed among some of the most prominent Bitcoin ETFs in the U.S. market: Fidelity’s FBTC : Recorded the highest outflows at $258.69 million , signaling a significant retreat from one of the most recognized financial institutions. ARK Invest’s ARKB : Witnessed withdrawals of $148.3 million , potentially reflecting cautious moves by retail and institutional investors. BlackRock’s IBIT : Reported net outflows of $124.28 million , a notable decline given BlackRock’s influence as a financial giant. Bitwise’s BITB : Experienced smaller, yet substantial outflows of $11.26 million , showcasing the broad impact of this trend. Potential Reasons Behind the Outflows Profit-Taking After Recent Gains Bitcoin’s recent price fluctuations may have encouraged investors to lock in profits, especially after a period of steady inflows. Market Uncertainty Global economic conditions, regulatory developments, or concerns about the broader crypto market could have driven the shift. Institutional Portfolio Rebalancing Institutional investors often adjust their portfolios at the start of a new fiscal year, which could explain the sudden outflows. Impact on the Bitcoin Market The withdrawal of $569.02 million from Bitcoin ETFs may impact the cryptocurrency’s price dynamics. ETFs often serve as a barometer of institutional and retail interest in Bitcoin, and such significant outflows could signal a temporary cooling-off period. FAQs What are Bitcoin ETFs? Bitcoin ETFs are exchange-traded funds that track the price of Bitcoin, allowing investors to gain exposure to the cryptocurrency without directly purchasing it. Why did Bitcoin ETFs see outflows on January 8? Potential reasons include profit-taking, portfolio rebalancing by institutional investors, and broader market uncertainties. Which Bitcoin ETF recorded the largest outflows? Fidelity’s FBTC saw the largest net outflow of $258.69 million on January 8. Do ETF outflows always indicate a bearish trend? Not necessarily. Outflows could represent profit-taking or short-term portfolio adjustments rather than long-term bearish sentiment. What does this mean for Bitcoin’s price? Large outflows may temporarily affect market sentiment, but Bitcoin’s price is influenced by multiple factors, including supply, demand, and macroeconomic conditions. Conclusion The net outflows of $569.02 million from U.S. spot Bitcoin ETFs on January 8 underscore the dynamic nature of the cryptocurrency market. While the reasons for this reversal are speculative, they highlight the importance of monitoring ETF trends as a gauge of investor sentiment. To learn more about the innovative startups shaping the future of the crypto industry, explore our article on latest news , where we delve into the most promising ventures and their potential. To learn more about the innovative startups shaping the future of the crypto industry, explore our article on latest news , where we delve into the most promising ventures and their potential to disrupt traditional industries. CoinTurk News