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Bitcoin Drops Below $69,000 as War Fears Weigh on Crypto Markets
Bitcoin and other cryptocurrencies declined anew as the US, Israel and Iran traded fresh threats and attacks.
The largest coin fell as much as 3.3% on Sunday to trade around $68,150, the lowest level since early March. The selloff was fiercer among other tokens, with Ether losing nearly 5% at one point to sink to $2,050 and Solana, XRP and Cardano also dropping.
Ethereum OG Whale Returns To Market With $19.5M ETH Buy
According to data from Arkham Intelligence, an Ethereum OG whale known as thomasg.eth has been on an Ether buying spree (valued at approximately $19.5 million) over the past week. The entity acquired spot Ether, wrapped ETH (WETH), and Aave-deposited ETH across Arkham-tracked wallet addresses, with the latest purchase worth $3 million on Friday, March 20.
Arkham revealed in its post in X that the whale once held around $538 million in cryptocurrency assets, including Ethereum, Wrapped Bitcoin (WBTC), and DAI at the peak of the market in 2021. However, the large-scale Ethereum investor had reduced their exposure to cryptocurrencies and downsized their portfolio to nearly zero by the middle of 2022.
Morgan Stanley sets MSBT ticker and $1 million seed capital for bitcoin ETF
Morgan Stanley wants its planned spot bitcoin ETF to trade under the ticker MSBT when it debuts.
The investment bank disclosed the ticker in its latest filing with the U.S. Securities and Exchange Commission (SEC), amending its January application for the fund.
Bitcoin Spot ETF Flow
The overall net outflow of the US Bitcoin spot ETF on Friday was $52.11 million. The total net asset value of Bitcoin spot ETFs is $90.3 billion, and the ETF net asset ratio (market value compared to total Bitcoin market value) is 6.44%.
The Bitcoin spot ETF with the highest net outflow on March 20 was iShares Bitcoin Trust, with a net outflow of $45.94 million, according to SoSoValue.
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