Apr 19, 2024

"CoinDesk Daily" host Jennifer Sanasie breaks down the biggest headlines impacting the crypto industry today, as U.S.-based spot bitcoin (BTC) exchange-traded funds registered cumulative outflows of $4.3 million, extending the four-day run of withdrawals ahead of the halving.

Video transcript

A five day ETF withdrawal streak is registered ahead of the Bitcoin having and Poly market bes bet on the potential for interest rate changes. You're watching Coindesk daily, I'm your host, Jen Sani Spot. Bitcoin ETF S have registered a five day withdrawal streak on Thursday ahead of the HG BT C led the outflows while inflows into black rocks. IBI continue to slow. According to farside data. Since April 12th, the ETF S have witnessed a total of over $319 million in outflows on Thursday. G BT C saw a significant loss of $90 million outflows which was partially offset by inflows into fidelity F BT C and Black Rocks. I bet Gray Scales. ETF has been losing money since day one. Bitcoin's price was at around $65,000 up almost 4% as of 10 a.m. Eastern time and the Coin desk 20 was also up almost 4% at around $2200. The probability that the US Federal Reserve will keep interest rates unchanged this year is rising bets on Blockchain based betting site poly market. Now see a 32% chance of the fed keeping the benchmark interest rates steady between 5.25% and 5.5% by the end of the year. This is a significant change from the seven percent probability seen nearly a month ago, the hawkish shift in the market sentiment could dampen the demand for risk assets including cryptocurrencies and technology stocks. According to some analysts, Bitcoin surged to record highs above $73,000 in the primary quarter was primarily fueled by the anticipation of swift interest rate cuts. And Tether seeks to boost peer to peer payments on telegram by expanding the dollar backed stablecoin and its gold backed Xaut natively on the to network a Blockchain adjacent to the messaging app. Telegram. Tether's transparency page shows that there's $10 million worth of us DT authorized on the to Blockchain with 3 million already being used with the move. The firm hopes to boost both cryptocurrencies for borderless peer to peer payments among telegrams, nearly 900 million users. According to a statement issued during Dubai's 2049 conference, that's a wrap for coin desk daily, get more updates on coindesk.com and we'll see you next time.

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