2

The ETF mania is looking like a bust

The ETF mania is looking like a bust
Bitcoin is having a rough day, down 4% and briefly touching $60,000.

It's been a case of easy-come, easy-go on the US bitcoin ETF. The launch has been a success by any measure but all the owners of it are underwater now and that's more likely to create selling pressure than buying.

That said, this is a market that loves big round numbers so the buyers could make a stand at $60,0000. The low so far was almost $60K on the dot and there's been a $700 pop.




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Fri 22 Oct 2021 14:09:21 GMT

2

Bitcoin spills through yesterday's low as ETF enthusiasm fades

We might have to do this again with a physical ETF Bitcoin broke through the $62,000 level to the lowest since Tuesday as some stops were run. On Wednesday, it looked like the bitcoin futures ETF (BITO) would be the catalyst to push bitcoin through the April record highs near $64,800. That was briefly the case but it's looking like the weekly close will be well below that, pointing to the potential for a false breakout and double top.

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Bitcoin spills through yesterday's low as ETF enthusiasm fades


//az705044.vo.msecnd.net/20211022/bitcoin-10-min.png Adam Button
Fri 22 Oct 2021 14:09:21 GMT
Author: Adam Button
Category: Cryptocurrency
2


We might have to do this again with a physical ETF Bitcoin broke through the $62,000 level to the lowest since Tuesday as some stops were run. On Wednesday, it looked like the bitcoin futures ETF (BITO) would be the catalyst to push bitcoin through the April record highs near $64,800. That was briefly the case but it's looking like the weekly close will be well below that, pointing to the potential for a false breakout and double top.

Asset 24 View More
Thu 21 Oct 2021 19:05:44 GMT

2

BITO bitcoin ETF is headed for trouble with position limits looming

Bitcoin ETF has used up two-thirds of its position limit Bitcoin is down today so there might be some flows out of the new US bitcoin ETF (BITO) that launched on Tuesday. The larger problem is that it is destined to run into position limits. According to , it can only hold 5000 futures contracts due to CME rules and is already two-thirds of the way there. Another $600m would get it to the limit.

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BITO bitcoin ETF is headed for trouble with position limits looming


//az705044.vo.msecnd.net/20211021/bito.png Adam Button
Thu 21 Oct 2021 19:05:44 GMT
Author: Adam Button
Category: Cryptocurrency
2
Bitcoin ETF has used up two-thirds of its position limit Bitcoin is down today so there might be some flows out of the new US bitcoin ETF (BITO) that launched on Tuesday. The larger problem is that it is destined to run into position limits. According to , it can only hold 5000 futures contracts due to CME rules and is already two-thirds of the way there. Another $600m would get it to the limit.

Asset 24 View More
Thu 21 Oct 2021 14:41:00 GMT

4

Bitcoin dives to $63,000 after carving out a double top at $66,500

Volatility stays high News that the BITO ETF is pushing towards position limits in CME bitcoin futures contracts is a concern for the crypto market. We may also seeing more profit taking with bitcoin  down 4% today.

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Bitcoin dives to $63,000 after carving out a double top at $66,500


//az705044.vo.msecnd.net/20211021/bitcoin.png Adam Button
Thu 21 Oct 2021 14:41:00 GMT
Author: Adam Button
Category: Cryptocurrency
4
Volatility stays high News that the BITO ETF is pushing towards position limits in CME bitcoin futures contracts is a concern for the crypto market. We may also seeing more profit taking with bitcoin  down 4% today.

Asset 24 View More
Wed 20 Oct 2021 21:46:20 GMT

ICYMI - Pimco to gradually invest and trade more in cryptocurrencies

PIMCO's chief investment officer spoke in a CNBC interview.    Here is the link for more Pacific Investment Management Company (PIMCO) is a US firm that manages circa US$1.9 trillion in assets

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ICYMI - Pimco to gradually invest and trade more in cryptocurrencies


https://az705044.vo.msecnd.net/20211020/btc-pimco-21-october-2021.png Eamonn Sheridan
Wed 20 Oct 2021 21:46:20 GMT
Category: Cryptocurrency
0
PIMCO's chief investment officer spoke in a CNBC interview.    Here is the link for more Pacific Investment Management Company (PIMCO) is a US firm that manages circa US$1.9 trillion in assets

Asset 24 View More
Wed 20 Oct 2021 13:44:52 GMT

4

Bitcoin trades at a new all time high. Trades above $65,000.

New all-time high The price of the last 29 trading days has moved up over $26,000 or 65.79% (since the bottom on September 21. PS The high price just reached $66,000 even and backed off a bit.

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Bitcoin trades at a new all time high. Trades above $65,000.


//az705044.vo.msecnd.net/20211020/2021-10-20_6-48-50.jpg Greg Michalowski
Wed 20 Oct 2021 13:44:52 GMT
Category: Cryptocurrency
4
New all-time high The price of the last 29 trading days has moved up over $26,000 or 65.79% (since the bottom on September 21. PS The high price just reached $66,000 even and backed off a bit.

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Tue 19 Oct 2021 18:11:50 GMT

13

Bitcoin hits a new daily high as money flows into BITO ETF

Bitcoin hits a high of $63,510 A 'sell the fact' trade after the launch of the US bitcoin ETF has turned into a 'buy when they sell the fact' trade. Bitcoin is now up more than 3% on the day to a high of $63,510 after falling as low as $61,062 shortly after the product launch.

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Bitcoin hits a new daily high as money flows into BITO ETF


//az705044.vo.msecnd.net/20211019/bitcoin-bito.png Adam Button
Tue 19 Oct 2021 18:11:50 GMT
Author: Adam Button
Category: Cryptocurrency
13
Bitcoin hits a high of $63,510 A 'sell the fact' trade after the launch of the US bitcoin ETF has turned into a 'buy when they sell the fact' trade. Bitcoin is now up more than 3% on the day to a high of $63,510 after falling as low as $61,062 shortly after the product launch.

Asset 24 View More
Tue 19 Oct 2021 14:32:33 GMT

3

'Sell the fact' hits bitcoin as price quickly falls to $61,500

We got our answer 'Buy the rumor, sell the fact' is one of the great axioms in trading for a reason. Today was a perfect example as bitcoin started running up late last week on rumors of an imminent approval of a bitcoin ETF. Today's the ProShares BITO ETF started trading and the bulls tried another push above $63,000 but couldn't get through the key $64,800 level.

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'Sell the fact' hits bitcoin as price quickly falls to $61,500


//az705044.vo.msecnd.net/20211019/bitcoin-intraday.png Adam Button
Tue 19 Oct 2021 14:32:33 GMT
Author: Adam Button
Category: Cryptocurrency
3
We got our answer 'Buy the rumor, sell the fact' is one of the great axioms in trading for a reason. Today was a perfect example as bitcoin started running up late last week on rumors of an imminent approval of a bitcoin ETF. Today's the ProShares BITO ETF started trading and the bulls tried another push above $63,000 but couldn't get through the key $64,800 level.

Asset 24 View More
Tue 19 Oct 2021 13:20:46 GMT

4

Bitcoin ETF set to start trading

I expect this will be one of the best ETF debuts ever Welcome to the BITO era in bitcoin trading. That's the ticker for the Bitcoin futures ETF that's set to debut at the bottom of the hour. I would have loved to see multiple bitcoin ETFs approved at the same time so we could see a horse race and have the market decides. As we saw in Canada, the first out of the gate gets all the volume and the race is pretty much over after that.

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Bitcoin ETF set to start trading


//az705044.vo.msecnd.net/20211019/bitcoin-chart-bito.png Adam Button
Tue 19 Oct 2021 13:20:46 GMT
Author: Adam Button
Category: Cryptocurrency
4
I expect this will be one of the best ETF debuts ever Welcome to the BITO era in bitcoin trading. That's the ticker for the Bitcoin futures ETF that's set to debut at the bottom of the hour. I would have loved to see multiple bitcoin ETFs approved at the same time so we could see a horse race and have the market decides. As we saw in Canada, the first out of the gate gets all the volume and the race is pretty much over after that.

Asset 24 View More
Fri 15 Oct 2021 18:12:21 GMT

9

Bitcoin runs above the $61,000 level

Tests the March 2021 high price ahead of the all-time high reached in April

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Bitcoin runs above the $61,000 level


//az705044.vo.msecnd.net/20211015/2021-10-15_11-08-13.jpg Greg Michalowski
Fri 15 Oct 2021 18:12:21 GMT
Category: Cryptocurrency
9
Tests the March 2021 high price ahead of the all-time high reached in April

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Fri 15 Oct 2021 02:22:41 GMT

SEC said to not oppose Bitcoin futures ETF

The headline getting play: Bitcoin Futures ETF Said Not to Face SEC Opposition at Deadline This'll allow a BTC future ETF to begin trading.  Adam gave the heads up on this many hours ago:

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SEC said to not oppose Bitcoin futures ETF


https://az705044.vo.msecnd.net/20211015/btc-chart-etf-futures.png Eamonn Sheridan
Fri 15 Oct 2021 02:22:41 GMT
Category: Cryptocurrency
0
The headline getting play: Bitcoin Futures ETF Said Not to Face SEC Opposition at Deadline This'll allow a BTC future ETF to begin trading.  Adam gave the heads up on this many hours ago:

Asset 24 View More
Fri 15 Oct 2021 01:29:15 GMT

1

MSCI highlight that firms with around US$7tln in market cap have some sort of exposure to cryptocurrencies

MSCI is a provider of equity, fixed income, hedge fund stock market indexes for across the globe. Via Bloomberg: 

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MSCI highlight that firms with around US$7tln in market cap have some sort of exposure to cryptocurrencies


https://az705044.vo.msecnd.net/20210520/bitcoin-camry.png Eamonn Sheridan
Fri 15 Oct 2021 01:29:15 GMT
Category: Cryptocurrency
1
MSCI is a provider of equity, fixed income, hedge fund stock market indexes for across the globe. Via Bloomberg: 

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Fri 15 Oct 2021 00:02:21 GMT

Queensland Investment Corporation (Australian fund) consider crypto investment

Via newswires comes info that QIC is pondering a small investment into the cryptocurrency sector.  QIC is one of Australia's largest funds, circa 90bn AUD in assets

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Queensland Investment Corporation (Australian fund) consider crypto investment


https://az705044.vo.msecnd.net/20210921/bitcoin.png Eamonn Sheridan
Fri 15 Oct 2021 00:02:21 GMT
Category: Cryptocurrency
0
Via newswires comes info that QIC is pondering a small investment into the cryptocurrency sector.  QIC is one of Australia's largest funds, circa 90bn AUD in assets

Asset 24 View More
Thu 14 Oct 2021 22:46:44 GMT

1

US' second-largest mortgage lender has dropped its plan to accept crypto

United Wholesale Mortgage began piloting crypto payments in August but has decided against extending the program.  Trialled acceptance of bitcoin, ether, and dogecoin and multiple different borrowers.

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US' second-largest mortgage lender has dropped its plan to accept crypto


https://az705044.vo.msecnd.net/20211014/btc-mortgage-15-october-2021.png Eamonn Sheridan
Thu 14 Oct 2021 22:46:44 GMT
Category: Cryptocurrency
1
United Wholesale Mortgage began piloting crypto payments in August but has decided against extending the program.  Trialled acceptance of bitcoin, ether, and dogecoin and multiple different borrowers.

Asset 24 View More
Thu 14 Oct 2021 19:25:33 GMT

8

Signs of the approval of a bitcoin ETF continue to mount

Some cryptic signs for crypto today An hour ago the SEC tweeted this: The link goes to a bulletin they wrote in June, so it's not necessarily new but there is a frenzy of watching for an ETF approval right now. The last time they tweeted this out was two days before the Bitcoin futures mutual fund started trading.

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Signs of the approval of a bitcoin ETF continue to mount


//az705044.vo.msecnd.net/20211014/2021-10-14_15-24-41.png Adam Button
Thu 14 Oct 2021 19:25:33 GMT
Author: Adam Button
Category: Cryptocurrency
8
Some cryptic signs for crypto today An hour ago the SEC tweeted this: The link goes to a bulletin they wrote in June, so it's not necessarily new but there is a frenzy of watching for an ETF approval right now. The last time they tweeted this out was two days before the Bitcoin futures mutual fund started trading.

Asset 24 View More
Thu 14 Oct 2021 03:16:37 GMT

Binance cryptocurrency exchange to stop offering peer-to-peer trading in China by the end of 2021

Binance, is the world’s largest cryptocurrency exchange. News was out overnight so posting as an ICYMI, not breaking or anything.  Binance will stop offering its peer-to-peer trading service in China by the end of 2021 

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Binance cryptocurrency exchange to stop offering peer-to-peer trading in China by the end of 2021


https://az705044.vo.msecnd.net/20211014/btc-usd-china-binance.png Eamonn Sheridan
Thu 14 Oct 2021 03:16:37 GMT
Category: Cryptocurrency
0
Binance, is the world’s largest cryptocurrency exchange. News was out overnight so posting as an ICYMI, not breaking or anything.  Binance will stop offering its peer-to-peer trading service in China by the end of 2021 

Asset 24 View More
Thu 14 Oct 2021 00:45:58 GMT

1

G7 statement - Central bank cryptos could complement cash, and have further benefits

G7 finance leaders' statement on central bank digital currency (CBDC) and digital payment - innovation in digital money and payments can bring significant benefits but raises regulatory issues

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G7 statement - Central bank cryptos could complement cash, and have further benefits


https://az705044.vo.msecnd.net/20211014/btc-chart-g7-14-october-2021.png Eamonn Sheridan
Thu 14 Oct 2021 00:45:58 GMT
Category: Cryptocurrency
1
G7 finance leaders' statement on central bank digital currency (CBDC) and digital payment - innovation in digital money and payments can bring significant benefits but raises regulatory issues

Asset 24 View More
Tue 12 Oct 2021 22:30:04 GMT

4

White House says Biden Administration is embarking on ‘Aggressive’ move on cryptocurrency

Wall Street Journal with the crypto report - Biden administration will ramp up regulatory scrutiny further.   Senior White House official Peter Harrell, senior director for international economics and competitiveness with the National Security Council

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White House says Biden Administration is embarking on ‘Aggressive’ move on cryptocurrency


https://az705044.vo.msecnd.net/20211012/btc-chart-13-october-2021.png Eamonn Sheridan
Tue 12 Oct 2021 22:30:04 GMT
Category: Cryptocurrency
4
Wall Street Journal with the crypto report - Biden administration will ramp up regulatory scrutiny further.   Senior White House official Peter Harrell, senior director for international economics and competitiveness with the National Security Council

Asset 24 View More
Mon 11 Oct 2021 16:01:15 GMT

13

Jamie Dimon: Bitcoin is worthless and government regulation is coming

Jamie Dimon sticking to his guns Jamie Dimon has said this many times before and is repeating it today. He said that he personally thinks bitcoin is worthless. He also reiterated that regulation is coming and that it's needed.

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Jamie Dimon: Bitcoin is worthless and government regulation is coming


//az705044.vo.msecnd.net/20211011/bitcoin-d.png Adam Button
Mon 11 Oct 2021 16:01:15 GMT
Author: Adam Button
Category: Cryptocurrency
13
Jamie Dimon sticking to his guns Jamie Dimon has said this many times before and is repeating it today. He said that he personally thinks bitcoin is worthless. He also reiterated that regulation is coming and that it's needed.

Asset 24 View More
Mon 11 Oct 2021 13:47:46 GMT

2

Bitcoin passed the test, now it passes $57,000

A lesson in what happens when something can't go down Bitcoin is up $3200, or 6%, since Friday and has broken above $57,000 for the first time since May. On Friday, I was highlighting the mounting case for buying it. We've seen a barrage of negative news lately including a(nother) ban from China and it became increasingly clear the White House has also taking aim at crypto.

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Bitcoin passed the test, now it passes $57,000


//az705044.vo.msecnd.net/20211011/bitcoin-chart.png Adam Button
Mon 11 Oct 2021 13:47:46 GMT
Author: Adam Button
Category: Cryptocurrency
2
A lesson in what happens when something can't go down Bitcoin is up $3200, or 6%, since Friday and has broken above $57,000 for the first time since May. On Friday, I was highlighting the mounting case for buying it. We've seen a barrage of negative news lately including a(nother) ban from China and it became increasingly clear the White House has also taking aim at crypto.

Asset 24 View More
Wed 6 Oct 2021 23:38:39 GMT

ICYMI - US Dept. of Justice announces the launch of National Crypto Enforcement Team

U.S. Deputy Attorney General Lisa Monaco announced two Justice Department enforcement initiatives on Wednesday US time.  The National Cryptocurrency Enforcement Team.

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ICYMI - US Dept. of Justice announces the launch of National Crypto Enforcement Team


https://az705044.vo.msecnd.net/20211006/btc-doj-chart-07-october-2021.png Eamonn Sheridan
Wed 6 Oct 2021 23:38:39 GMT
Category: Cryptocurrency
0
U.S. Deputy Attorney General Lisa Monaco announced two Justice Department enforcement initiatives on Wednesday US time.  The National Cryptocurrency Enforcement Team.

Asset 24 View More
Wed 6 Oct 2021 15:57:41 GMT

Bitcoin surges and trades to the highest level since May 12

Price is up 7 of the last 8 trading days The price of Bitcoin has  continued its run to the upside that has seen the price rises seven of the last eight trading days. Over that time. The price has moved up 36.2% or $14,750 from the low on September 29 to the high price today.  

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Bitcoin surges and trades to the highest level since May 12


//az705044.vo.msecnd.net/20211006/2021-10-06_8-55-18.jpg Greg Michalowski
Wed 6 Oct 2021 15:57:41 GMT
Category: Cryptocurrency
0
Price is up 7 of the last 8 trading days The price of Bitcoin has  continued its run to the upside that has seen the price rises seven of the last eight trading days. Over that time. The price has moved up 36.2% or $14,750 from the low on September 29 to the high price today.  

Asset 24 View More
Wed 6 Oct 2021 12:56:19 GMT

5

Bitcoin nears the September high as debt ceiling concerns rise

Are they related? What's driving the latest leg of bitcoin strength? One theory is that it's debt ceiling concerns. Fear about the debt ceiling and US default is certainly on the rise. 1-year CDS have risen 22 bps in the past week, though that still prices only a tiny chance of default.

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Bitcoin nears the September high as debt ceiling concerns rise


//az705044.vo.msecnd.net/20211006/bitcoin-daily-c.png Adam Button
Wed 6 Oct 2021 12:56:19 GMT
Author: Adam Button
Category: Cryptocurrency
5
Are they related? What's driving the latest leg of bitcoin strength? One theory is that it's debt ceiling concerns. Fear about the debt ceiling and US default is certainly on the rise. 1-year CDS have risen 22 bps in the past week, though that still prices only a tiny chance of default.

Asset 24 View More
Wed 6 Oct 2021 00:18:04 GMT

AMC CEO tweets accepting Dogecoin, other crypto, in payment for digital gift cards


Eamonn Sheridan
Wed 6 Oct 2021 00:18:04 GMT
Category: Cryptocurrency
0
Huge news for the Doge fans he says: 

Asset 24 View More
Tue 5 Oct 2021 20:31:14 GMT

ICYMI - SEC head Gensler says the US won't ban cryptocurrencies

An ICYMI from a little earlier, Bloomberg with the article on remarks from Securities and Exchange Commission Chair Gary Gensler Was speaking at a House hearing after a Republican lawmaker asked if a China-like prohibition was on the table in the US

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ICYMI - SEC head Gensler says the US won't ban cryptocurrencies


https://az705044.vo.msecnd.net/20211005/btc-gensler-sec.png Eamonn Sheridan
Tue 5 Oct 2021 20:31:14 GMT
Category: Cryptocurrency
0
An ICYMI from a little earlier, Bloomberg with the article on remarks from Securities and Exchange Commission Chair Gary Gensler Was speaking at a House hearing after a Republican lawmaker asked if a China-like prohibition was on the table in the US

Asset 24 View More

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