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Welcome back to the Daily Coinsauce Newsletter! Let’s dive into today’s updates—there’s a lot to unpack!
💧Top headlines from the last 24 hours:
• Microstrategy acquires additional $720 million worth Bitcoin
• Spot ETF flows for BTC & ETH continue to diverge.
📕Educational :
• Low funding rates suggest the possibility of an incoming bull-rally.
Lets dive in.
📅 Today
Microstrategy Acquires 7,633 Additional Bitcoin!
Michael Saylor recently announced via his personal X account that Strategy has purchased 7,633 BTC, spending $742.4 million at an average price of $97,255 per Bitcoin.
This latest purchase brings Strategy’s total Bitcoin holdings to 478,740 BTC, with a total acquisition cost of $31.1 billion and an average purchase price of $65,033 per Bitcoin.
ETH ETF’s Outpace BTC ETF’s!
US Bitcoin & Ethereum ETF Update (Feb 10, 2025):
BTC ETFs saw a net outflow of -$186.3M
ETH ETFs saw a net outflow of -$22.5M
Biggest outflows:
Fidelity BTC ETF (-$136.1M)
Grayscale ETH ETF (-$22.5M)
BlackRock’s BTC ETF (IBIT) was the only one with inflows (+$55.4M)
Overall, US spot Ethereum ETFs purchased 146,540 $ETH worth $420.2M just this week.
The trend for ETH ETF’s outperforming BTC ETF’s has continued to persist for the past few weeks.
We believe that increased inflows for Spot ETH ETF’s along with a historic level of short interest for ETH suggests that institutions could be intentionally suppressing the price of ETH so that they get more time to accumulate at lower levels.
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🌎 Other News
📕 Educational
Last week, the average funding rate across the three top exchanges dropped to zero. In this cycle, every such occurrence has ultimately led to a macro bull rally.
It's unclear how long we will stay at these levels, but one thing is certain-during the consolidation phase, the price never fell below $89K, despite bearish pressure.
Essentially, bulls are buying the dip around the $90K level.
📊 Stat of the day
🤣 Meme of the day
That concludes our update for today!
We appreciate you joining us for the latest news. We aim to provide the best-in-class insights and highlights that keep you well-informed and ready.
Remember to join us on Telegram and Twitter for additional updates and giveaways. Until then, see you next time!
Disclaimer: None of the content shared in the newsletter is financial advice. Always do your own research and analysis before investing.
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