cryptocurrencies

U.S. spot bitcoin ETFs posted record net outflows of $680 million on Thursday, breaking a 15-day streak of positive flows of $6.7 billion.

The U. S. Securities and Exchange Commission approved the applications of NASDAQ and Cboe BZX to list and trade shares of crypto-index ETFs Hashdex and Franklin Templeton, respectively.
U. S. Federal Reserve Chairman Jerome Powell on June 2, After hawkish comments about slowing the pace of interest rate cuts in 2025, the #cryptocurrency market continued to fall.
Meanwhile, the CEOs of Deribit and Bitget are discussing the coexistence of decentralized and centralized exchanges.
In addition, CoinDesk employees wrote a letter to the owner of Bullish, calling Justin Soon's retraction of the article
outrageous
, in anticipation of the dismissal of management.
Let's get started. The record for daily outflows to date stands at a whopping 563.7 million, set on May 1, when the coin dropped to around $BTC Fidelity's FBTC recorded an outflow of more than $208 million on Thursday, followed by Greyscale's #Bitcoin Mini Trust with more than $188 million. BlackRock's IBIT reported zero inflows, while WisdomTree's BTCW was the only #ETF to record inflows of $2 million.
Amid the biggest bitcoin sell-off since August, trading in 12 bitcoin-spot ETFs Volume jumped to $6.3 billion from $5.9 million the day before.
Meanwhile, the Ethereum U. S. ETF recorded net outflows of $60.5 million on Thursday, ending an 18-day positive period of $2.4 billion.
Initially, the fund will hold bitcoin and ether, but other #cryptocurrencies could be added if regulators approve. Hashdex suggested AVAX, LINK and LTC as potential options
The launch could happen in January. The possibility is there, said Eric Bartunas, an ETF analyst at Bloomberg. It's notable that Hashdex and Frankie will be the first to launch. That's a good thing, he said.

For now.
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🚨 Market Analysis (Based on Bitcoin's Movement): January 2025 – Are We on the Verge of a Major Shift?
The cryptocurrency market continues to test its resilience at the start of January 2025, and this month could be more than just a turning point for the market overall. Let’s dive into the details and analyze the situation from a deeper perspective.
1. The Notable Decline Since Early January 2025: 📉
As I mentioned earlier in some live streams, a decline was expected at the start of January, and now we’re clearly seeing the impact of this drop. The market has been under pressure since the first days of the year, and this trend may continue until the end of the month, raising many questions about whether this decline is just a correction or the beginning of a long period of downturn? 🤔
2. The $100,000 Barrier – Its Psychological Impact on the Market: 💥
The $100,000 barrier for Bitcoin goes beyond being just a psychological number. It represents a critical testing point, where the market experiences significant pressure when approaching this level. The rapid rise of Bitcoin to this price was unexpected for many, and following that, we saw a sharp pullback, further confirming the psychological role this level plays in determining market direction.
Psychologically: Traders often experience psychological pressure as prices near such levels, leading to swift actions like selling or freezing while awaiting clear signals. ⚡
Economically: These points become sensitive zones for large investments entering or exiting the market, amplifying volatility. 💰
3. The Drop to $90,000 – A Turning Point? 🔽
On January 10th, 2025, Bitcoin dropped to $90,199, its lowest point since November 2024. This level represents key support, which could dictate the price direction in the upcoming period. Some might consider this decline a sign of market collapse, but looking at the technical analysis, this dip might be seen as a buying opportunity before the next big move. These drops are not the end of the road; they could signal the beginning of a new phase. 🚀
4. Daily Fluctuations – Between $90,000 and $95,000: 🔄
Despite the ongoing decline, daily fluctuations between $90,000 and $95,000 reflect a state of indecision in the market. These ranges might see accumulation as traders hesitate to make quick decisions and enter a waiting mode. Technically, these fluctuations offer buying opportunities for those with patience and a long-term vision. 🕒
5. Future Outlook – February 2025: 🌟
Looking ahead, we see that the end of January may mark the start of new fluctuations, with the market likely stabilizing gradually.
Psychologically: Traders might struggle to make decisions due to ongoing volatility, creating an atmosphere of caution and anticipation. ⚖️
Technically: If Bitcoin successfully breaks the $95,000 level and establishes support above it, we could witness a new bullish move that could surprise everyone. 📈
6. Is This the Right Time to Invest? 💡
If you’re considering investing in Bitcoin right now, this could be the perfect moment. Despite the downturns, Bitcoin remains a promising long-term opportunity, and the next market movement is likely to be surprising. If you’re thinking of buying now, don’t fear the fluctuations; the upcoming period may be more exciting than ever. 🎯

🔮 Summary: The market is currently in a critical phase, but since we’re still at the beginning of January 2025, these declines may just be a correction. If you have the capacity to hold and invest for the long term, this could be the opportunity you've been waiting for. ⏳
🗣 What do you think of this analysis? Do you expect Bitcoin to rise again in February?
Share your thoughts in the comments! 💬
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$BTC
$ETH
$BNB

The UAE Federal Tax Authority (FTA) has announced changes to the implementation provisions of Federal Decree No. 8 of 2017 governing Value Added Tax (VAT).

The changes, which will come into effect from November 15 in accordance with Cabinet Decision No. (100) of 2024, introduce VAT exemption for the transfer and conversion of virtual assets, including #cryptocurrencies .
Individuals and entities involved in #cryptocurrency transactions will be exempted from VAT obligations in these processes. In addition, Article 30 relaxes the conditions necessary for the application of the zero tax rate and addresses the taxation of VAT on the export of goods. Exporters will be able to submit various types of documentation, such as customs declarations and transportation certificates, instead of the previous strict requirements.
These changes are in line with the Excise Law, especially with regard to the excise duty exemption for goods exported from the UAE. Article 31 changes the VAT rules for exported services, as exported services should not be considered as performed in the UAE or in certain territories specified in the Decree Law. This change effectively limits the application of the zero rate of VAT on exported services by classifying certain services as standard services if the place of supply is in the UAE. This could affect real estate, electronic services and telecommunications.
The most significant change is contained in Article 42 on the taxation of financial services. This amendment adds, inter alia, VAT exemption for the management of investment funds, the transfer of ownership of virtual assets and the conversion of these assets. The latter two processes are now expressly exempt from VAT with retrospective effect from January 1, 2018.
fund managers who manage investments need to assess whether their services fall under this VAT exemption: if they manage a UAE-authorized investment fund, their services related to fund management, investment and performance monitoring are exempt from VAT.
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Cardano (ADA) trading volume is up 162% despite an ongoing market sell-off that has seen $435 million worth of cryptocurrencies liquidated.

The #cryptocurrency market is under selling pressure as major #cryptocurrencies , led by #bitcoin (BTC), have fallen significantly in value, contributing to the overall market decline. #Cardano has not escaped the bearish trend, falling 7% in the last 24 hours and trading at $0.375 at the time of publishing this article.
According to the latest data from Coinshares, nearly $600 million was withdrawn from digital assets last week, the highest since March. High inflation has caused traders to lower their expectations for a Federal Reserve rate cut this year, which poses a challenge for speculative assets like cryptocurrencies.
According to CoinGlass, the recent market crash wiped out about $435 million in cryptocurrency liquidations, affecting a range of digital assets. Most of this amount came from bullish and long traders' positions worth $360 million in anticipation of further price gains in the market.
Despite the bearish environment, Cardano trading volumes have increased significantly. According to cryptocurrency market rating platform CoinMarketCap, #ADA trading volume rose 162% to US$574.9 million in the last 24 hours. This surge is especially noticeable against the backdrop of a general downturn in the market.
The reasons for the surge in ADA trading volume are varied, but may be indicative of investor positioning. Increased volatility often leads to higher trading volumes as traders buy and sell in high volumes.
It has been reported that Cardano has recently gained popularity among institutional investors, which may have contributed to increased trading volumes.
The market will be watching ADA's price performance closely to see if it will capitalize on the current surge in interest or maintain the status quo.
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The cryptocurrency market remains volatile and is heavily influenced by broader economic factors. The latest US job growth data beat expectations, indicating that the economy is doing well as interest rates rise.

This makes it less likely that the rate will be lower, impacting inflows into risky investments such as #cryptocurrencies .
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