**U.S.-listed Bitcoin ETFs experienced their fifth straight day of outflows on Thursday, totaling over $900 million in losses for the week.** This marks the worst performance since mid-April. **Grayscale's GBTC and Fidelity's FBTC led the outflows, while BlackRock's IBIT was the only ETF to record net inflows.**

The outflows come amid a period of **weak Bitcoin prices**, which have been affected by factors such as **$1 billion in sales from large holders, dollar strength, and a strong U.S. technology index market.**  This outflow activity is the worst since late April, when $1.2 billion in net outflows occurred. Inflows had picked up in the following weeks, adding more than $4 billion in the next 19 days before the current outflow trend began on June 10.

Thursday marked the fifth straight day of net outflows for the U.S.-listed ETFs in their worst performance since mid April.

MarketsBitcoin ETFs Post $900M in Net Outflows This WeekThursday marked the fifth straight day of net outflows for the U.S.-listed ETFs in their worst performance since mid April.By Shaurya MalwaJun 21, 2024 at 7:52 a.m. UTCUpdated Jun 21, 2024 at 7:55 a.m. UTCShare on FacebookShare on LinkedInShare on X(Markus Winkler/Pixabay)Share on FacebookShare on LinkedInShare on XSpot bitcoin ETFs in the U.S. experienced their fifth consecutive day of outflows on Thursday, totaling over $900 million in losses for the week.Grayscale's GBTC and Fidelity's FBTC led the outflows, while BlackRock's IBIT was the only ETF to record net inflows.Spot bitcoin (BTC) exchange-traded funds (ETFs) listed in the U.S. recorded their fifth-straight day of outflows on Thursday, losing over $900 million so far this week.Data tracked by SoSoValue shows that the 11 listed ETFs lost $140 million on Thursday, with $1.1 billion in trading volumes. Grayscale’s GBTC – which has mostly seen outflows since its conversion to an ETF in January – led outflows at $53 million followed by Fidelity’s FBTC at $51 million.BlackRock’s IBIT, the biggest ETF by assets held, was the only product that recorded net inflows at $1 million. Other products saw zero net inflow or outflow activity.Outflows from U.S.-listed bitcoin ETFs. (SoSoValue)Such outflow activity is the worst since late April, which saw $1.2 billion in total net outflows in trading sessions from April 24 to May 2. Inflows since picked up and saw the products add more than $4 billion in the next 19 days of trading – before the ongoing outflow deluge started on June 10.BTC prices have generally suffered in the past few weeks amid $1 billion in sales from large holders, dollar strength and a strong U.S. technology index market.Edited by Parikshit Mishra.DisclosurePlease note that our privacy policy, terms of use, cookies, and do not sell my personal information has been updated.CoinDesk is an award-winning media outlet that covers the cryptocurrency industry. Its journalists abide by a strict set of editorial policies. In November 2023, CoinDesk was acquired by the Bullish group, owner of Bullish, a regulated, digital assets exchange. The Bullish group is majority-owned by Block.one; both companies have interests in a variety of blockchain and digital asset businesses and significant holdings of digital assets, including bitcoin. CoinDesk operates as an independent subsidiary with an editorial committee to protect journalistic independence. CoinDesk employees, including journalists, may receive options in the Bullish group as part of their compensation.Shaurya MalwaShaurya is the Deputy Managing Editor for the Data & Tokens team, focusing on decentralized finance, markets, on-chain data, and governance across all major and minor blockchains.Follow @shauryamalwa on TwitterRead more aboutTradingBitcoin

Bitcoin ETFs Post $900M in Net Outflows This Week

Bitcoin ETFs Suffer $900 Million in Outflows This Week

### Bitcoin's NFT Milestone

In an astonishing development since **December 2022**, the **Bitcoin blockchain** has witnessed the creation of over **75 million Ordinal inscriptions**. This remarkable growth reflects the increasing interest in **NFTs (Non-Fungible Tokens)** on the Bitcoin network.

### The Economic Impact

The sales generated from these inscriptions have reached a staggering **$4.5 billion**, showcasing the potential of Bitcoin as a viable platform for digital collectibles. The rise of NFTs on Bitcoin is not just a trend; it's a testament to the blockchain's evolving capabilities.

### Why This Matters

As Bitcoin continues to establish its foothold in the NFT space, it opens up new avenues for creators and collectors alike. The integration of **Ordinal inscriptions** into the Bitcoin ecosystem is a significant step forward, highlighting the versatility and adaptability of this leading cryptocurrency.

### Conclusion

With the ongoing advancements in blockchain technology and the increasing popularity of NFTs, Bitcoin is positioning itself as a major player in the digital asset market. The future looks bright for Bitcoin's NFT journey, and it will be exciting to see how this space evolves in the coming years.

In the last year and nine months since December 2022, more than 75 million Ordinal inscriptions have been minted on the Bitcoin blockchain.

Bitcoin's NFT Revolution: 75M Ordinal Inscriptions and $4.5B in Sales! 🌟

### Cathedra Bitcoin Inc. Announces Non-Brokered LIFE Offering

Cathedra Bitcoin Inc. (TSXV: CBIT) (OTC Pink: CBTTF) has announced a **non-brokered private placement financing** called the **LIFE Offering**, aiming to raise **C$2.5 million** by issuing **25 million units** at **C$0.10 per unit**. This offering comes with an option to increase the total amount by another **C$2.5 million**.

### Offering Details

Each unit consists of:
- **One subordinate voting share** in the capital of the company
- **One share purchase warrant** with tiered exercise prices:
  - 25% at **C$0.12**
  - 25% at **C$0.14**
  - 25% at **C$0.16**
  - 25% at **C$0.20**

These units will be available under the **listed issuer financing exemption (LIFE)**, applicable in all Canadian provinces except Quebec, and potentially in the United States under exemptions from registration requirements.

### Use of Proceeds

The net proceeds from this offering will be directed towards:
- **Infrastructure expansion**
- **Bitcoin acquisitions**
- **General corporate purposes**

### Closing Date

The offering is expected to close around **October 9, 2024**, pending necessary approvals, including from the **TSX Venture Exchange**.

### Company Background

In July 2024, Cathedra completed a strategic merger with **Kungsleden, Inc.**, enhancing its data center capacity significantly. The company now operates three data centers in **Tennessee** and **Kentucky**, and is involved in a joint venture for a new **60-megawatt data center** in **North Dakota**.

### Corporate Objective

The management has outlined a goal to maximize shareholders' per-share bitcoin holdings, potentially acquiring more bitcoin through cash flows from operations and proceeds from this offering.

### About Cathedra Bitcoin

Cathedra Bitcoin specializes in developing and operating **digital infrastructure assets** across North America, with a focus on enhancing its bitcoin holdings. The company is headquartered in **Vancouver** and trades under **CBIT** on the TSX Venture Exchange.

![Corporate Logo](https://images.newsfilecorp.com/files/3208/223846_4ed7715014b40931_logo.jpg)  
**For more information, visit** [cathedra.com](https://cathedra.com).

Toronto, Ontario--(Newsfile Corp. - September 19, 2024) - (Block Height: 861,930) - Cathedra Bitcoin Inc. (TSXV: CBIT) (OTC Pink: CBTTF)...

Cathedra Bitcoin's C$2.5 Million LIFE Offering: What Investors Need to Know

In the volatile world of money transfers, **Bitcoin** is truly giving cash and credit cards a serious run for their money. Let go of the antiquated approaches from the past; Bitcoin is coming to change things. It has proven to be a true **game-changer** with its increasing popularity.

## **International Transactions**
Compared to traditional snail mail methods like cash and credit cards, Bitcoin is like having a **supercharged jet engine** when it comes to transporting money over international borders. With Bitcoin, you may transact with **low charges** and **lightning speed**, whereas traditional methods might drag you through a maze of fees and exchange rate dramas. According to an **IMF report from 2022**, Bitcoin transactions are much less expensive than those made through traditional banking, making it the preferred option for anybody looking to send money across borders without breaking the bank.

## **High-Risk Transactions**
Bitcoin is the **Fort Knox** of digital transactions when managing sensitive information or high-stakes negotiations. Unlike credit cards, which are vulnerable to chargebacks and fraud, Bitcoin has a **rock-solid blockchain security system** that ensures transparency and tamper-proof documentation. This is particularly advantageous for high-value transactions where **confidentiality** and **safety** are crucial.

## **Online Purchases and E-Commerce**
Bitcoin is fast becoming the hippest online payment option due to the surge in e-commerce. Cash is almost a non-starter for internet purchases, and while credit cards are practical, they come with drawbacks like chargebacks and fraud. Bitcoin’s **decentralized nature** allows for quicker and more seamless transactions, and according to a recent **2024 Statista study**, over **35% of e-commerce platforms** are currently using Bitcoin.

## **Privacy and Anonymity**
Bitcoin provides you with greater **privacy** and **anonymity** than cash or credit cards ever could. Although cash transactions are anonymous, they are limited to in-person transactions, making them unsuitable for larger purchases. Bitcoin's pseudonymity allows your personal information to remain private while transactions are recorded on a public ledger, making it the ideal option for those who value discretion in their financial decisions.

## **Investment and Value Preservation**
When it comes to holding onto value and making wise investments, Bitcoin is a clear victor. In contrast to currency, which is gradually devalued due to inflation, Bitcoin has been increasing at a remarkable rate, with its value rising by over **300%** over the past five years according to a **2024 Chainalysis report**. Bitcoin is all about smart investing, particularly with assets like the **BTC Bull Token**, which can bolster financial portfolios significantly.

Bitcoin is much more than simply a hipper substitute for cash and credit cards. It handles everything from cross-border transactions and dubious agreements to online shopping and protecting your privacy, making it the equivalent of the **Swiss Army knife** of the world of digital money. As it continues to expand, Bitcoin is quickly becoming the preferred option for a wide range of financial requirements, whether you're concerned about safe transactions, astute investments, or simply keeping up with the world of digital currency.

Explore 5 practical situations where Bitcoin outperforms cash and credit cards, from international transactions to privacy, e-commerce, and value preservation.

Unlocking the Power of Bitcoin: 5 Scenarios Where It Outshines Cash and Credit Cards

## Bitcoin Hits a Three-Week High

Bitcoin (**BTC-USD**) has reached a **three-week high** as it aligns with a significant increase in US equity futures, spurred by a **Federal Reserve interest-rate cut** that sent ripples through the financial markets.

As of **7:11 a.m. Thursday** in London, Bitcoin rose as much as **3.9%**, trading around **$61,900**. This surge coincides with increased optimism in the **S&P 500 contracts** and global stocks as traders adapt to what many believe is the onset of a **Fed easing cycle**.

![Federal Reserve Board Chair Jerome Powell](https://s.yimg.com/ny/api/res/1.2/mSR84T94UTIblnQQa5bRVw--/YXBwaWQ9aGlnaGxhbmRlcjt3PTk2MDtoPTY0MDtjZj13ZWJw/https://s.yimg.com/os/creatr-uploaded-images/2024-09/c5297f20-765a-11ef-ae7b-f183e9e5e592)

The **Federal Reserve** has reduced borrowing costs by **50 basis points**, marking its first cut in over four years. However, Chair **Jerome Powell** was careful to indicate that future cuts would depend on economic data, which tempered immediate market reactions.

“An aggressive start to the easing cycle is excellent news for **risky assets** including Bitcoin,” stated **Caroline Mauron**, co-founder of **Orbit Markets**. She noted that the market needed time to reflect on the broader implications of the Fed's decision.

## Market Reactions and Expectations

Prior to the Fed meeting, opinions were divided on whether the officials would choose a **quarter-point** or **half-point** reduction. Powell aims to maintain economic strength amidst balanced risks in the labor market and inflation.

“Attention will soon shift to the **magnitude and extent** of this easing cycle,” remarked **David Lawant**, research head at **FalconX**. He emphasized the need to monitor the trajectory of economic activity closely.

Recent trends indicate that correlations between **crypto** and traditional investments, such as stocks, have increased significantly, suggesting that macroeconomic factors are influencing digital asset markets.

In the wake of these developments, US Treasuries showed a decline, likely reflecting Powell’s cautious stance on future monetary easing.

“**The Fed’s ongoing reaction function is still unclear**,” commented **Chris Weston**, head of research at **Pepperstone Group**. “They remain on an unscripted path.”

(Bloomberg) -- Bitcoin hit a three-week high alongside a jump in US equity futures as an outsized Federal Reserve interest-rate cut rippled across markets.Most Read from BloombergAOC Proposes $30 Billion Social Housing AuthorityCalifornia’s Anti-Speeding Bill Can Be a Traffic Safety BreakthroughNew York City’s Transit System Plans $65.4 Billion of Upgrades for Grand Central, SubwaysTo Build a Happier City, Design for DensityPipe Fire Near Houston Forces Residents to EvacuateThe digital token ros

Bitcoin Surges to Three-Week High Amid Fed Rate Cut: What You Need to Know

## Understanding the Federal Reserve's Approach

The **Federal Reserve (Fed)** has made it clear that the **destination** of its monetary policy is far more significant than the **pace** at which it moves. This perspective is critical for **investors** and **crypto enthusiasts** alike, particularly in the context of **Bitcoin** and other cryptocurrencies.

### The Implications for Bitcoin

As the Fed continues to adjust its policies, the **outcome** of these decisions will have a profound impact on the **cryptocurrency market**. A focus on the **end goals** signifies that investors should be prepared for **volatility** as the Fed navigates through economic challenges.

### Rate Cuts and Market Reactions

With potential rate cuts on the horizon, the **reaction** of the cryptocurrency market could be significant. Previous patterns suggest that **Bitcoin** often responds positively to such changes, which could indicate a **bullish trend** in the near future.

### The Broader Economic Context

In the broader economic landscape, understanding the Fed's strategy is essential. Policymakers are attempting to balance inflation concerns while fostering growth, which creates a **dynamic environment** for cryptocurrencies.

![Federal Reserve](https://www.ft.com/__origami/service/image/v2/images/raw/https://barrier-page-components.s3.eu-west-1.amazonaws.com/assets/icons/primary_product_icon_trial.svg?source=next-barrier-page&format=svg)

Investors must keep a close eye on the Fed's decisions as they could signal shifts in the **economic climate**, ultimately affecting **Bitcoin's price** and the overall **crypto market**.


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Why the Federal Reserve's Focus on Destination Over Pace is Crucial for Bitcoin and Crypto Markets

## Understanding the Federal Reserve's Bold Move

The **Federal Reserve** recently made headlines with a significant **interest rate cut**. This decision has sparked debates among economists and analysts about its implications for the economy and markets.

### Key Reasons Behind the Rate Cut
- **Economic Slowdown**: The Fed's decision comes amid signs of an economic slowdown, prompting the need for stimulating growth.
- **Inflation Control**: By lowering interest rates, the Fed aims to encourage borrowing and spending, which can help combat deflationary pressures.
- **Global Economic Factors**: External factors, including global trade tensions and uncertainties, have influenced the Fed’s approach to interest rates.

### Potential Outcomes
- **Boost to Consumer Spending**: Lower rates can lead to increased consumer spending, which is vital for economic recovery.
- **Impact on Investments**: Investors may shift their focus towards equities, potentially leading to a stock market rally.
- **Real Estate Market Effects**: A rate cut could invigorate the housing market as mortgage rates decline, making home purchases more accessible.

This strategic move by the Fed is not just about numbers; it reflects a broader strategy to navigate complex economic challenges. Keep an eye on how these changes unfold in the coming months.

Unlocking the Mystery: Why the Federal Reserve Slashed Interest Rates

## Cryptocurrency Market Surge in East Asia

Recent reports indicate that **South Korea** and **Hong Kong** are leading the charge in the booming cryptocurrency market in East Asia. This growth is attributed to increasing adoption and innovative regulatory frameworks that foster a favorable environment for digital currencies.

### South Korea's Influence
South Korea has emerged as a significant player in the crypto landscape. The country has witnessed a surge in **crypto trading volumes**, driven by a tech-savvy population that is quick to embrace new technologies. The government's supportive stance on blockchain technology further propels this growth, enabling various sectors to integrate cryptocurrency solutions.

### Hong Kong's Regulatory Framework
Meanwhile, **Hong Kong** is solidifying its position as a global crypto hub. The region's **regulatory clarity** attracts international investors and crypto startups. Recent initiatives aim to create a comprehensive framework that balances innovation with security, thus appealing to both traditional and digital asset investors.

### Market Trends
Analysts highlight that the collaboration between governments and the private sector is crucial for the sustainable growth of cryptocurrencies in East Asia. The focus on **financial technology (FinTech)** and **blockchain innovations** is expected to drive further expansion in this sector.

### Conclusion
Overall, the dynamic regulatory environments in South Korea and Hong Kong, combined with a growing interest from the populace, suggest that East Asia will continue to play a pivotal role in the global cryptocurrency market.

Bitcoin ETFs Suffer $900 Million in Outflows This Week

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Other Latest News

Bitcoin's NFT Revolution: 75M Ordinal Inscriptions and $4.5B in Sales! 🌟

Cathedra Bitcoin's C$2.5 Million LIFE Offering: What Investors Need to Know

Unlocking the Power of Bitcoin: 5 Scenarios Where It Outshines Cash and Credit Cards

Bitcoin Surges to Three-Week High Amid Fed Rate Cut: What You Need to Know

Why the Federal Reserve's Focus on Destination Over Pace is Crucial for Bitcoin and Crypto Markets

Unlocking the Mystery: Why the Federal Reserve Slashed Interest Rates

Explosive Growth: How South Korea and Hong Kong are Shaping the Future of Cryptocurrency in East Asia

Other Latest News

Bitcoin's NFT Revolution: 75M Ordinal Inscriptions and $4.5B in Sales! 🌟

Cathedra Bitcoin's C$2.5 Million LIFE Offering: What Investors Need to Know

Unlocking the Power of Bitcoin: 5 Scenarios Where It Outshines Cash and Credit Cards

Bitcoin Surges to Three-Week High Amid Fed Rate Cut: What You Need to Know

Why the Federal Reserve's Focus on Destination Over Pace is Crucial for Bitcoin and Crypto Markets

Unlocking the Mystery: Why the Federal Reserve Slashed Interest Rates

Explosive Growth: How South Korea and Hong Kong are Shaping the Future of Cryptocurrency in East Asia