Cryptocurrency News Highlights: Grayscale GBTC Faces $255M Outflow, Other ETFs Gain $269M

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Cryptocurrency News Highlights: Bitcoin, the world’s first-ever digital currency, once again echoed a tidal wave of frenzy across the broader crypto market on Saturday, as the token’s price chart showcased a substantial upswing. As of press time, the token’s price marked a 4.27% jump in the past 24 hours and is currently trading at $41,787, after a highly volatile movement over the past week. Meanwhile, altcoins like Ethereum, XRP, and Solana also noted an upsurge of 2%-5% today, nabbing significant attention globally.

On the other hand, Celsius and FTX moved a staggering $59.06 million worth of digital assets to a CEX, as per data by Spotonchain. Notably, Celsius moved 22,500 ETH, worth $50.78 million, to Coinbase, whereas FTX and Alameda shifted $8.28 million worth of 6 assets. These assets included ETH, OKB, MTL, PROM, YFII, and CREAM.

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11:03:18 PM IST, 27 January 2024

Crypto News LIVE: Vanguard Shuns Bitcoin ETFs Citing Asset Immaturity

With $7 trillion in assets, Vanguard dismisses the idea of incorporating spot Bitcoin ETFs, citing concerns over Bitcoin’s maturity and inherent economic value. The investment giant views Bitcoin as a potentially disruptive force in portfolios, lacking historical data and cash flow.

10:45:16 PM IST, 27 January 2024

Crypto News LIVE: Bloomberg Analyst: ETFs Redefine Finance, Bitcoin Joins

Bloomberg analysts echo the sentiment that the financial world is shifting towards an “ETF Standard,” with Bitcoin playing a significant role. The ETF market, valued at trillions, simplifies investment processes and diversifies portfolios, including recent forays into Bitcoin ETFs that offer new avenues for cryptocurrency investment.

10:20:15 PM IST, 27 January 2024

Crypto News LIVE: Bitcoin Defies Trends Ahead of April 2024 Halving

Crypto analyst Gert van Lagen highlights an unusual trend in Bitcoin’s behavior, noting the lack of a parabolic move before the April 2024 halving. He points out that Bitcoin has turned the 0.618-0.786 Fibonacci zone into support, a historical precursor to significant price surges.

10:02:00 PM IST, 27 January 2024

Crypto News LIVE: Prosecutors Insist on Charges Against Ex-Celsius CEO

Former Celsius CEO Alex Mashinsky faces a firm stance from U.S. prosecutors, challenging his motion to dismiss criminal charges of commodities fraud and market manipulation. The legal battle intensifies as the court weighs the complexities of cryptocurrency classification and the implications of Celsius’ bankruptcy.

09:40:14 PM IST, 27 January 2024

Crypto News LIVE: GBTC Hits $10 Billion Milestone, Tops ETF Market

Grayscale Bitcoin Trust (GBTC) leads the Bitcoin ETF market with a record-breaking $10 billion trading volume, outperforming peers amid overall market stabilization. Following significant outflows, GBTC’s recovery reflects growing investor confidence in Bitcoin, with the cryptocurrency’s price showing positive momentum.

09:20:16 PM IST, 27 January 2024

Crypto News LIVE: Ripple Readies for ETF, Hires DeFi Expert Amid Legal Wins

Ripple gears up for a potential spot XRP ETF filing by hiring a Senior Manager for Business Development in Institutional DeFi, signaling a possible expansion in institutional cryptocurrency adoption. This move follows Ripple’s legal victories against the SEC, potentially paving the way for greater integration of XRP in traditional finance.

09:03:00 PM IST, 27 January 2024

Crypto News LIVE: Ripple CTO to Present XRPL Vision at ETH Denver

Ripple’s CTO, David Schwartz, is set to share his insights on blockchain interoperability at ETH Denver summit. He will discuss the role of XRP Ledger (XRPL) in supporting a multi-chain future, along with updates on XRPL advancements like EVM programmability.

08:40:13 PM IST, 27 January 2024

Crypto News LIVE: OpenSea CEO Devin Finzer Hints at Acquisition Interest

OpenSea CEO Devin Finzer acknowledges acquisition interest, emphasizing that the platform is not seeking buyers. The leading NFT marketplace remains open to potential acquisitions, though specific details and timing remain undisclosed.

08:20:11 PM IST, 27 January 2024

Crypto News LIVE: Crypto Scam Drains $12M, Reveals Security Vulnerabilities

Recent crypto phishing scam siphons $12 million in five days, exploiting cryptocurrency security gaps. Attackers leverage ERC20 permits to drain various tokens, including Chainlink, Tether, and more, raising concerns about user vulnerability and the need for heightened vigilance in the crypto community.

08:04:00 PM IST, 27 January 2024

Crypto News LIVE: Terra Luna Classic Security Proposal Faces Validator Opposition

Terra Luna Classic‘s core security upgrade proposal faces rejection from validators due to concerns over the pay-per-job approach. Despite initial support, the vote now stands at 38% in favor and 53% against, as community members question the clarity of the guidelines, potentially hindering chain developments.

07:30:00 PM IST, 27 January 2024

Crypto News LIVE: FTX Crypto Exchange Raises Cash Amid Bankruptcy

FTX crypto exchange is amassing cash by selling digital assets as it works on repaying frozen customer accounts. While the cash pile grew to $4.4 billion by the end of 2023, some customers are challenging a proposal that values their assets at the time of bankruptcy, potentially missing out on gains from the crypto market’s rebound.

07:15:15 PM IST, 27 January 2024

Crypto News LIVE: Bitcoin Hovers at $40K, Analyst Sees Rebound

The Bitcoin market is cautiously optimistic as BTC stabilizes around $40,000, despite recent fluctuations and a record outflow from Grayscale’s Bitcoin ETF. Analyst CrediBULL Crypto suggests the potential for a rebound, though warns of possible dips, amid broader market trends and the impact of new Bitcoin ETF approvals by the SEC.

06:59:18 PM IST, 27 January 2024

Crypto News LIVE: Coinbase CLO Questions SEC’s Crypto Security Standards

Coinbase’s Chief Legal Officer, Paul Grewal, recently sparked a debate over the SEC’s definition of securities in the crypto world. Using the example of a Green Bay Packers certificate and a Bart Starr trading card, Grewal questioned the inconsistency in the SEC’s stance amid the ongoing legal battles involving Coinbase and Ripple.

06:41:14 PM IST, 27 January 2024

Crypto News LIVE: John Bollinger Signals End to Bitcoin’s ‘Sell on News’ Era

John Bollinger has hinted at a potential shift in Bitcoin’s market sentiment. In a recent tweet, he speculated that the trend of ‘selling on the news’ might be fading, as observed in Bitcoin’s latest movements.

06:25:15 PM IST, 27 January 2024

Crypto News LIVE: Grayscale GBTC Faces $255M Outflow, Other ETFs Gain $269M

Bitcoin spot ETFs witnessed a significant fluctuation on January 26, as reported by sosovalue. While Grayscale’s GBTC experienced a substantial net outflow of $255 million, other ETFs collectively saw a net inflow of $269 million, maintaining Grayscale GBTC’s net asset value at a robust $20.058 billion.

04:28:13 PM IST, 27 January 2024

Crypto News LIVE: XRP Price Eyes $1.2 Level Following Strategic Market Moves, Anticipates Major Surge

XRP price has recently witnessed a notable uptick, climbing 3.56% in just 24 hours. This follows a week of downward trends, bringing today’s price to $0.5284. Analyst Egragg, in a recent tweet, highlighted the potential for significant growth based on XRP’s technical analysis. He emphasized the ‘Giant Cup Structure,’ suggesting a possible surge from $1.2 to an ambitious $27.

Egragg’s analysis focuses on the 21 EMA (Exponential Moving Average) on a monthly timeframe, identifying critical price points at $3.5, $6.5, and $27. This method, he believes, simplifies complex market movements. By comparing current trends with previous patterns (labeled A, B, C), Egragg predicts potential jumps: a 4500% increase to $27, a 1000% rise to $6.5, and a 500% growth to $3.5.

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