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U.S. spot bitcoin ETFs experienced net inflows of $84 million on Monday, marking the seventh consecutive day of positive flows. An analyst indicated that this reflects a favourable change in market sentiment due to improving macroeconomic conditions.
Bitcoin is striving to fully revive the bull market, yet market participants remain cautious, with some even anticipating a return to $76,000 following new all-time highs.
Summary: SEC staff stated that proof-of-work mining does not constitute the offer and sale of securities. The SEC also discussed mining pools, where participants combine their processing power and share the rewards.
Bitcoin traders often reduce risk ahead of FOMC meetings, yet crucial price metrics are indicating a divergence. Will BTC surge when the Fed minutes are published?
Spot bitcoin ETFs in the U.S. experienced net inflows of $274.6 million on Monday, marking the largest daily inflows since 4th February. These ETFs had previously seen five consecutive weeks of net outflows amounting to over $5 billion.
Bitcoin traders and analysts consider potential BTC price targets as upward liquidity increases and market sentiment increasingly fears levels below $70,000.
BTC price movements suggest that positive news on inflation is actually negative due to ongoing US trade war concerns, which are reducing the appetite of risk-asset traders.
Bitcoin experiences its largest weekly decline against the US dollar to date, as traders in risk assets rush to exit.
The price of Bitcoin fell after US President Donald Trump pledged not to sell any of the government's current Bitcoin holdings, but did not make a firm commitment to purchase more.
- 14:30Bank of America survey: Going long on gold replaces going long on the Magnificent Seven U.S. stocks as the most crowded tradeJinse Finance reported that the Bank of America's Global Fund Manager Survey for October shows that most investors believe "going long on gold" has become the most crowded trade in the market. A total of 43% of surveyed investors listed "going long on gold" as the most crowded trade, surpassing the 39% who chose "going long on the Magnificent Seven." The survey also shows that 39% of investors currently have nearly 0% gold positions, 19% allocate about 2%, and 16% allocate about 4%. According to statistics, the weighted average allocation ratio for gold is only 2.4%.
- 14:30The US OFAC seeks to confiscate over 120,000 BTC linked to an international "pig-butchering" scam.Jinse Finance reported that the U.S. Department of the Treasury's Office of Foreign Assets Control (OFAC) has imposed comprehensive sanctions on 146 targets within the "Prince Group Transnational Criminal Organization" (Prince Group TCO). This organization, based in Cambodia and led by Cambodian national CHEN ZHI, operates a transnational criminal empire through online investment scams targeting Americans and others globally. In addition, the U.S. Treasury's Financial Crimes Enforcement Network (FinCEN) has removed the Cambodia-based financial services group "Huione Group" from the U.S. financial system. For years, Huione Group has laundered proceeds from virtual currency scams and thefts for malicious cyber actors. According to the U.S. District Court for the Eastern District of New York (EDNY), OFAC seeks to confiscate 127,271 bitcoins (approximately 12 billions USD).
- 14:26IMF urges central banks to remain cautious with monetary easing and recommends emergency fiscal adjustmentsChainCatcher news, according to Golden Ten Data, the International Monetary Fund (IMF) stated that central banks should remain vigilant against inflation risks driven by tariffs and adopt a cautious stance on monetary easing to minimize further surges in high-risk asset valuations. The IMF also called for "urgent fiscal adjustments" to curb deficits and ensure the resilience of the bond market. The institution pointed out that the increasingly close ties between banks and less regulated non-bank financial sectors will intensify shocks arising in areas such as private credit or cryptocurrency.