2020-2-9 12:14 |
U.S. investment data firm Weiss Ratings upgraded Bitcoin’s rating to A-, citing upcoming halving and strong price performance
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Cardano founder Charles Hoskinson said Bitcoin could surge to $250,000. He also dismissed the recent tariff escalation as a short-term drag US spot bitcoin ETFs registered net outflows of $127. 12 million on Wednesday.
On April 8, spot BTC ETFs recorded net outflows totalling $326. 27 million. The largest outflow came from BlackRock’s IBIT, which saw redemptions exceeding $252 million. For the second time this week, all twelve spot Bitcoin ETFs in the US posted zero net inflows.
Schiff doubled down on his long-standing position that gold remains a far safer asset. Beyond Bitcoin, Peter Schiff also issued a broader warning about the US economy. Schiff believes the US could be heading toward its worst economic downturn since the Great Depression.
Since peaking in January, Bitcoin has shed over half a trillion dollars in market capitalization. On April 8, the Chinese yuan dropped to its lowest level in 2023, trading at 7. 31 against the US dollar.
As per Farside data, BTC ETFs saw outflows worth close to $100 million on Thursday. The only ETF that saw an inflow on Thursday was BlackRock’s IBIT. As of Thursday, BTC ETFs have seen a total net outflow of around $98 million this week.
On the last day of March, US BTC ETFs saw net outflows of around $60 million. The only ETF that saw an inflow on Monday was BlackRock’s IBIT. Global crypto ETPs saw $226 million in net inflows last week, according to CoinShares’ weekly report.
Interest in cryptocurrency projects has been exceptionally high in recent months as investors eye the 2025 bull run. Fifteen years after the launch of Bitcoin, crypto enthusiasts have witnessed how an innovative tech idea can grow from one with no intrinsic value to a digital asset with a market cap of $1.