ETF redemptions accelerated with ETH spot ETFs seeing a $429 million exit (3rd day of outflows) while BTC spot ETFs also registered a $327 million outflow yesterday.
Price momentum faded after the strong Monday one. BTC dropped 2.2% to $112,455; ETH 2.1% to $4,050; BNB down 7% to $1,215; SOL flat at $198.
Market structure: Open interest turned down sharply (≈ −77k BTC and −1.67 million ETH), indicating low return of leveraged traders.
Macro pressure: Gold hit a new ATH of $4,130 and S&P 500 +1.5% with China vowing to “fight trade war to the end.”
VC & product demand: Fundraising surged to a record $3.48 billion in one week, as venture appetite returns even as spot sentiment cools.
For the first time since it began accumulating Bitcoin in 2020, Michael Saylor signalled the company may sell part of its holdings — a shift in the buy-and-hold model that has defined Strategy's identity and underpinned its equity premium.
The exchange's third major headcount reduction in three years tracks closely with the crypto market cycle, even as Armstrong points to AI as a structural reason to operate with fewer people.
The SEC this week delayed the launch of more than two dozen prediction market ETFs, citing concerns about product mechanics and disclosures. A Bloomberg analysis published last week suggests the retail-friendly pitch underpinning these products doesn't quite hold up to scrutiny.
A wave of exchange-traded funds designed to give investors exposure to prediction market outcomes was expected to begin trading as early as Thursday — until U.S. regulators intervened.
