Texas is seeking a custody and liquidity provider to help move its Strategic Bitcoin Reserve from BlackRock’s iShares Bitcoin Trust (IBIT) spot Bitcoin exchange-traded fund (ETF) into directly held coins, according to a state procurement document. The move, posted May 7 and announced in a Thursday release from the Texas Comptroller’s office, would move Texas
Bitcoin is stabilizing near $73,500, about 10% below its monthly high of $81,000. Data suggests the stall reflects a shortage of new buyers rather than a plethora of sellers. Risk assets broadly advanced after reports that U.S.-Iran negotiations could reopen the Strait of Hormuz, a vital oil passageway, lifted sentiment. “The expectations of a de-escalation
U.S. spot bitcoin ETFs have now recorded nine consecutive trading days of net outflows, marking the longest withdrawal streak since the products listed in January 2024. SoSoValue data Over the nine-session run, investors pulled roughly $2.8 billion from the funds, surpassing any previous period of sustained selling pressure. U.S. spot bitcoin ETFs have shed approximately
Binance founder Changpeng Zhao (CZ) argued on Friday that most artificial intelligence (AI) companies will go bust, even as Anthropic closed in on a $1 trillion valuation and OpenAI moved toward its initial public offering (IPO). His warning landed during one of the busiest stretches in AI fundraising history, with two private firms now collectively
Strategy’s perpetual preferred security, Stretch (STRC), fell as low as $97.11 on Thursday as bitcoin slipped to the $73,000 mark. STRC tends to face selling pressure during bitcoin drawdowns and in the days immediately following its ex-dividend date, as seen on Nov. 20 and Feb. 5. The ex-dividend effect typically results in a price adjustment
Bitcoin is trading near $73,000 as charts from Man of Bitcoin and CW show $BTC at a short-term decision point. One setup warns that bullish momentum is weakening, while the other shows shorts closing as selling pressure starts to fade. Bitcoin Price Tests $73K as $BTC Bearish Roadmap Puts Support in Focus Bitcoin is trading
Bitcoin has dropped to a critical price point in a long-forming bear flag amid weak price action, and speculation of a breakdown is building. This bull flag bottom comes as Bitcoin ($BTC) has declined by over 4% since the start of this week. It is on course for its fourth consecutive daily red candle and
An amendment to Hong Kong’s Stamp Duty bill could mean that dual-counter securities traded in yuan are subject to stamp duty directly in renminbi. This is also another effort aimed at boosting RMB offshore liquidity and strengthening the city’s position as the region’s hub for digital asset and ETF trading. The proposed Stamp Duty (Amendment)
Michael Saylor’s Strategy is now facing criticism from well-known industry figure Jeff Dorman, CIO of ARCA Investing. Dorman believes the company may have taken on more risk than expected while betting on a strong Bitcoin rally. Although he says he is not part of Michael Saylor’s inner circle, he thinks Strategy likely built its recent
Bitcoin came under pressure on May 28 as traders assessed whether the latest decline was part of a wider range or the start of a deeper market breakdown. Analysts pointed to network data, technical levels and global risk sentiment. Bitcoin slipped below $73,000 on May 28 and is trading near $73,358 as of press time.