Bitcoin exchange-traded funds (ETFs) have been facing heavy outflows, with investors pulling billions from the market in recent weeks. Recent data shows that U.S. Bitcoin spot ETFs recorded over $900 million in net outflows in just one week. Over the past five weeks, the total outflows have reached $5.5 billion, showing a shift in investor sentiment.
Investors Withdraw $5.5 Billion From Market
Bitcoin ETFs had a strong start, but things have changed in recent weeks. The funds have now seen their longest period of outflows since launching in January last year. Many investors are choosing to exit the market due to growing uncertainty.
One key reason behind this trend is the recent policies of U.S. President Donald Trump. While he has shown support for crypto, investors seem more concerned about his aggressive trade policies and potential economic uncertainty.
This has led to a broader sell-off in riskier assets, including Bitcoin and other cryptocurrencies.
Biggest Bitcoin ETFs Hit Hard
Among the 12 Bitcoin ETFs in the U.S., BlackRock’s IBIT fund saw the largest withdrawals, with net outflows of $338.1 million in just one week. Fidelity’s FBTC followed closely, losing $307.4 million.
Other funds, including Ark’s ARKB, Invesco’s BTCO, Franklin Templeton’s EZBC, and WisdomTree’s BTCW, also recorded losses ranging from $33 million to $81 million.
On the other hand, Grayscale’s GBTC was the only fund to record net inflows, adding $5.5 million. Meanwhile, Bitwise’s BITB, Valkyrie’s BRRR, and VanEck’s HODL saw minor outflows of less than $4 million each.
Meanwhile, Bitcoin price itself has been under pressure, trading below $84,000 and showing little movement over the past 24 hours. However, the larger trend remains bearish, with Bitcoin down nearly 17% since late January.
Even though, Ethereum has also suffered trading below $2000 and hitting three-month lows amid weak market sentiment.
What’s Next for Crypto ETFs?
Despite these challenges, asset managers continue to push for new crypto ETFs. Some firms have applied for funds based on cryptocurrencies like XRP, Litecoin, Cardano, Polkadot, and Solana. If approved by the U.S. Securities and Exchange Commission (SEC), these funds could help bring fresh interest into the crypto market.
Although Bitcoin ETFs are facing difficulties now, positive regulatory news or a shift in investor sentiment could lead to a strong recovery soon.
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In a convoluted and dramatic scandal, HyperLiquid was rocked today by a massive JELLY short squeeze. It was forced to assume one trader’s liabilities, leaving it on the hook for $230 million.
As this situation developed, major CEXs like Binance and OKX listed JELLY perpetuals in what looks like a direct attack. HyperLiquid delisted the token, sparking extreme controversy.
Essentially, massive JELLY whales managed to manipulate the meme coin price, causing losses in HyperLiquid’s HLP vault.
“A massive whale with 124.6 million JELLYJELLY ($4.85 million) is manipulating its price to make Hyperliquidity Provider (HLP) face a loss of $12 million. He first dumped the token, crashing the price and leaving HLP with a passive short position of $15.3 million. Then he bought it back, driving the price up—causing HLP to suffer a loss of nearly $12 million,” LookonChain claimed via social media.
So, essentially, JELLY JELLY initially surged nearly 500% today. This dramatic jump was sparked by what’s called a “short squeeze.” It occurs when someone bets heavily that a coin’s price will fall (known as “shorting”), but instead, the price unexpectedly rises.
In this case, a trader borrowed a massive amount of JELLY tokens and sold them immediately. He expected the price to drop, buy the tokens back cheaper, and keep the difference as profit.
Unfortunately for the trader, the price didn’t fall—it skyrocketed, forcing them to buy back the coins at much higher prices, creating massive losses.
This sudden forced buying pushed the price even higher, catching the attention of traders and investors who jumped in to ride the wave. In under an hour, JELLY’s market cap rapidly increased from $10 million to $43 million.
This frenzy also left Hyperliquid, the exchange involved, holding a big loss of $6.5 million from the trader’s failed short position, sparking speculation about potential financial stress on the platform.
Meanwhile, Binance and OKX listed JELLY perpetuals, further driving its price up. So the potential loss became even larger for Hyperliquid. Some users even urged Binance and other competitors to list the token and deal a ‘death blow’ to Hyperliquid.
Binance Users Urging Officials to List JELLY JELLY and Trigger Losses for Hyperliquid. Source: X (formerly Twitter)
Binance is Apparently Trying to Liquidate HyperLiquid
In a very interesting twist, it looks like these competitors are heeding the call. Binance, the world’s largest crypto exchange, was hit with a wave of requests to list JELLY JELLY, thereby causing big losses for HyperLiquid.
Yi He, one of its co-founders, said she would consider a listing, and crypto sleuth ZachXBT claimed that the original whale was funded via Binance.
Shortly after these developments happened, Binance announced that it would begin offering perpetuals contracts for JELLY.
OKX also jumped on the bandwagon with perpetuals trading of its own. After this, HyperLiquid announced that it would delist JELLY JELLY, seemingly erasing its unrealized losses.
“After evidence of suspicious market activity, the validator set convened and voted to delist JELLY perps. All users apart from flagged addresses will be made whole from the Hyper Foundation. This will be done automatically in the coming days based on onchain data. There is no need to open a ticket. Methodology will be shared in detail in a later announcement,” HyperLiquid’s statement claimed.
This radical action immediately caused an explosion on social media. HyperLiquid’s supporters expressed unease over the JELLY JELLY incident, while its detractors accused the firm of criminal activity.
The firm’s validators confirmed that they unanimously took the decision, partially rebutting rumors that its CEO acted alone.
Still, there are no mincing words here. If HyperLiquid can simply declare its JELLY JELLY liabilities null and void, that’s a highly destabilizing act.
The way it handled the $JELLY incident was immature, unethical, and unprofessional, triggering user losses and casting serious doubts over its integrity. Despite presenting itself as an innovative decentralized exchange with a…
Bitcoin is testing range lows, and Ethereum has tapped its lowest price since November 2023 today – so it’s a huge opportunity for traders to secure discounted prices before the next leg up.
But what are the best crypto to buy? This article reviews five promising projects that could have 100x potential this year.
Solaxy
Solaxy is building the first-ever Solana layer 2 blockchain. Using off-chain computation and transaction bundling technology, the project will eradicate Solana’s congestion issue.
It’s a huge leap forward for the Solana ecosystem, making it cheaper, faster, and more reliable. This will open Solana to new users and use cases, potentially creating billions of dollars in new value.
And right now, SOLX is undergoing a presale. It’s a way for investors to join from the start. The presale has raised $25.7 million so far. It’s currently priced at $0.001658, but this will rise throughout the campaign.
Solaxy is at a rare juncture right now. Not only is it opening Solana to new possibilities, but it’s also available to buy from the ground floor. For SOLX presale participants, this setup could give 100x gains.
MIND Of Pepe
MIND Of Pepe is a new Pepe-themed AI agent that aims to make its holders money. The agent has a wide range of abilities, including trend analysis, launching tokens, interacting with dApps, and even writing social media posts.
It covers all angles, from identifying trading opportunities to creating them and then shaping social discourse around them.
But its bread-and-butter is trend analysis. MIND Of Pepe will consolidate social media and on-chain data into actionable insights to predict future trends, helping MIND holders know what to buy and when.
Moreover, it can also fill gaps in the market by launching its own tokens. Again, MIND holders will have first access, providing them with the best entry prices.
The project is undergoing a presale and has raised $7.2 million so far.
As MIND Of Pepe seeks to make its community more profitable, the project is positioned to amass significant adoption, which could make the MIND presale a highly lucrative opportunity for traders.
Mantra
Bitcoin, Ethereum, and XRP are all down today, as are many smaller altcoins. However, Mantra continues to push ahead in what’s becoming a running theme throughout the past year.
While the total crypto market cap is down 3.8% in the past 24 hours, Mantra is up 2.5% in the same window. It’s clear that investors see real value in the Mantra use case.
The reason is that Mantra is a real-world assets-focused layer 1 blockchain, providing a regulatory-adherent environment for institutions to tokenize their assets.
It’s a use case that veers outside the walled garden of normal crypto use cases and penetrates the traditional financial system. And it isn’t just today that Mantra has outperformed the market. Its price has surged by 2,000% in the past year.
Mantra has a $6 billion market cap, so it’s unlikely to give 100x gains this year. However, given its immense strength and focus on institutional adoption, there’s every chance it will become a top-five cryptocurrency and potentially rival XRP and Ethereum in the coming years.
Hedera
Hedera offers an alternative to traditional blockchain platforms with its Hashgraph distributed ledger technology. Unlike conventional blockchain systems, Hedera’s architecture provides improved efficiency in several key metrics.
The platform processes transactions with fees of approximately $0.0001 USD and confirmation times under five seconds. Hedera’s network can handle more than 10,000 transactions per second, which compares favorably to the 5-20 TPS typical of many proof-of-work blockchains.
HBAR, the network’s utility token, experienced significant price movement in late November 2024, rising from $0.04 to $0.37 before settling at around $0.20. This price activity reflects growing market awareness of the platform’s capabilities, with the recent downturn being attributed to the general crypto market.
According to crypto analysts at More Crypto Online, HBAR is looking for downturn confirmation between $0.09 and $0.016. However, its mid-term outlook is extremely positive, with potential targets at $0.4 and $0.6.
With a governance structure managed by the Hedera Governing Council and features designed to support enterprise applications, Hedera aims to address practical business needs while maintaining security and decentralization principles. As organizations continue to explore blockchain alternatives, Hedera’s focus on performance and regulatory compatibility may position it for increased adoption.
BTC Bull Token
BTC Bull Token is a Bitcoin-themed meme coin that pays its holders Bitcoin rewards. The idea is to increase Bitcoin ownership among meme coin fans and offset some of the volatility of meme coin investing through airdrops.
Users will receive free BTC and BTCBULL airdrops at key milestones on Bitcoin’s journey to $1 million. At the same time, Bitcoin-related cryptos tend to track Bitcoin’s price, so we can also expect the BTCBULL price to grow as Bitcoin rises.
Users also earn even more via the project’s staking mechanism, which is live now and offering a 123% APY.
BTC Bull Token also has a burn mechanism, which destroys a portion of the total supply at key price milestones.
The project is available to buy via an ongoing presale, which has raised $3.4 million so far.
With Bitcoin rewards at its core and multiple other community reward initiatives, meme coin fans are scrambling to buy BTCBULL. This positions it for significant growth in the coming months.
The post Best Crypto to Buy: Top Cryptocurrencies to Turn $100 Into $10,000 appeared first on Coinpedia Fintech News
Bitcoin is testing range lows, and Ethereum has tapped its lowest price since November 2023 today – so it’s a huge opportunity for traders to secure discounted prices before the next leg up. But what are the best crypto to buy? This article reviews five promising projects that could have 100x potential this year. Solaxy …
