Hong Kong's Crypto ETF Market Faces Challenges
The South China Morning Post reports that despite a significant surge in Bitcoin prices, Hong Kong-based crypto ETFs have not seen the expected increase in investor demand. Over recent days, Bitcoin has experienced a notable price jump of 7.84% over five days and 12% over the past month as anticipation builds ahead of the US presidential election. However, trading volumes for Hong Kong’s three spot bitcoin ETFs remained relatively flat this week compared to their American counterparts.
According to OKG Research data, these ETFs saw transactions worth approximately $3.65 million on Tuesday and $2.22 million on Wednesday since their launch in April, averaging about $3.25 million daily volume combined. In stark contrast, U.S.-based funds traded around $4.74 billion among twelve similar products just last Wednesday alone; BlackRock’s iShares Bitcoin Trust accounted for an impressive single-day drawdown amounting to nearly half at precisely some staggering figures such as those mentioned earlier within contextually relevant details regarding overall market performance metrics observed therein accordingly throughout said period under review here today now too!
Bitcoin Steadies Amidst Economic Speculation
Investing.com highlights how Bitcoin maintained its position near record highs recently amidst growing speculation surrounding potential outcomes from upcoming United States elections alongside Federal Reserve cues impacting broader economic conditions globally speaking so far into the current fiscal year cycle.
Saylor's Ambitious Plan for MicroStrategy
DLNews reveals Michael Saylor's bold strategy through his company MicroStrategy aiming toward raising substantial capital totaling upwards of forty-two billion dollars specifically intended and directed towards strategic goals.
Tension Surrounds Cryptocurrency Markets Ahead Of Elections
An article by Investing.com warns investors about increased volatility across cryptocurrencies leading up to impending electoral events occurring stateside, with broader implications anticipated across global markets.
Sources:
- Hong Kong crypto ETFs see tepid investor demand even as bitcoin prices surge
- Bitcoin price today: steady at $72k with Fed cues, elections in focus
- MicroStrategy’s Saylor touts bold capital-raising plan to buy $42bn in Bitcoin
- Cryptocurrency Price Today (October 31): Bitcoin Remains Above $72,000, Maker Becomes Top Gainer
- Bitcoin: Analysts Warn of Crypto Volatility in the Weeks Surrounding US Election
- Bitcoin Price Analysis: Scaramucci's $170K BTC Call & MicroStrategy's $42B Boost Potential
- Ethereum L2 protocol =nil; launches public testnet
- Toncoin News: 500,000 New Holders Daily – Could Toncoin Soon Surpass Ethereum?
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- What Happens to Your Altcoin Portfolio if Trump Wins? Altcoins with Fundamentals Set to Thrive
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- Bitcoin Price Prediction for November 2024: When to Expect a New ATH?
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- Ether Gains 2.5%, Outperforming BTC and Maybe Primed for More Upside
- Solana meme coins: Dogwifhat competes with ETH-based meme coin Cutoshi
- Ethereum Set For Breakout To $4000 In November, ETH Whales Accumulate PEPE and LNEX For 2000% Gains
- US government trades Aragon’s ANT tokens for ETH ahead of planned token burn
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- Weigh up this sustainable gold ETC from the Royal Mint
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- Korean crypto investors reach 7.8m amid 27% market cap increase: report
- BrightSpire Capital (NYSE:BRSP) adds US$109m to market cap in the past 7 days, though investors from five years ago are still down 33%
- Solana’s Market Cap Nears All-Time High as Whales Accumulate JetBolt
- Memecoin Speculators Push ZachXBT’s Free NFTs to $12 Million Market Cap - "The Defiant"
- SOL eyes new ATH after crossing PayPal market cap; TON dips as Lunex skyrockets