Coinbase told investors on Thursday that 88% of its second-quarter net revenue came from something other than Bitcoin spot trading. The same release reported a $359.5 million net loss under US accounting rules, the company’s third consecutive losing quarter. Both numbers describe the same three months. Taken together, they get closer to the truth about
Bitcoin price hovered near $63,000 on Aug. 1 as US ETF outflows, weakening momentum and regulatory uncertainty kept buyers on the sidelines. Bitcoin price struggles to hold $63,000 According to data from crypto.news, Bitcoin (BTC) price traded at approximately $63,082 at the time of writing after briefly falling below $63,000 during the latest selloff. The
Bloomberg Intelligence estimates the average net cost basis of US spot Bitcoin ETF capital at roughly $82,249, leaving the position about 22% underwater and sitting on $16.33 billion in unrealized losses. On Aug. 14, large investment managers must disclose their June 30 Bitcoin ETF positions, and those filings offer the clearest look yet at whether
Bitcoin has entered a bottoming phase that could last one to three months, according to prominent crypto analyst PlanB, known for his stock-to-flow price models. In a post on X, PlanB noted that Bitcoin closed July at $62,818, while its 200-week moving average stood at approximately $63,000. Understanding the Bottoming Process PlanB, whose real name
Trading volume for tokenized stocks and ETFs surged 288% to a record $11.3 billion in July, though most of the increase came from a single Binance-linked token. Binance bStocks accounted for $9.41 billion, or 83.3% of the total, according to CoinDesk Data’s latest Stablecoins & Tokenized Assets report. A bStocks token, QQQB, tracking Invesco’s QQQ
Perpetual futures, or “perps,” are the largest market crypto has built, and they are quietly reversing the story everyone tells about convergence. Crypto is described as maturing toward traditional finance, adopting its discipline around revenue, buybacks and disclosure. In perps, the movement runs the other way: traditional assets are migrating onto a structure that crypto
The negative premium period on the US-based cryptocurrency exchange Coinbase, caused by the Bitcoin price falling below Binance’s, has reached its longest period to date. According to CoinGlass data, the Coinbase Bitcoin Premium Index remained in negative territory for 75 consecutive days between May 19 and August 1. The index’s final value was recorded at
U.S. spot Bitcoin exchange-traded funds recorded net outflows of approximately $265.4 million on July 31, according to data from Farside Investors. The reversal ends a two-day streak of net inflows, signaling a shift in investor sentiment amid broader market uncertainty. Fund-Level Breakdown Leading the outflows was BlackRock’s IBIT, which saw $122.7 million leave the fund,
Bitcoin tried but failed at $65,000 on several occasions in the past week, and there are now multiple and different signals suggesting that another leg down is on the cards. From war escalation to ETF withdrawals, let’s dive in. Macro Factors Let’s start with the Wednesday developments on US soil when the central bank decided