Ether ETFs and Their Alarming Outflows

The U.S.-based spot Ether exchange-traded funds (ETFs) have endured five consecutive days of net outflows. On the final trading day of the week, these ETFs saw an alarming $248.4 million in daily outflows, summing up to a total of $795.8 million for the week, as reported by Farside data. Over the same period, Ether’s price tumbled by 10.25%, trading at $4,013, according to CoinMarketCap.

Historical Context and Market Reactions

Interestingly, the last occurrence of five straight days of outflows from spot Ether ETFs was during the week ending September 5, when Ether’s price hovered around $4,300. This historical context provides insight into current market dynamics and investor sentiment.

Staking Anticipation and Regulatory Developments

As the crypto community speculates about the future, anticipation is building around the potential approval of staking as a component of spot Ether ETFs by the U.S. Securities and Exchange Commission. On September 19, it was revealed that Grayscale is preparing to stake a portion of its substantial Ether holdings, indicating confidence in impending regulatory changes.

Crypto analyst Bitbull has described the ongoing Ether ETF outflow streak as a “sign of capitulation,” pointing to the high levels of panic selling in the market. This sentiment underscores the uncertainty and volatility currently characterizing the crypto space.

Comparative Analysis: Bitcoin ETFs

Meanwhile, spot Bitcoin ETFs have also experienced net outflows, amounting to $897.6 million over the same five-day period. Despite Bitcoin’s price dropping by 5.28% over the past week, ETF analyst James Seyffart expressed optimism, noting that Bitcoin ETFs represent the “biggest launch of all time” and are performing “as good as you could possibly hope.”

These contrasting narratives between Ether and Bitcoin ETFs highlight the divergent paths and challenges faced by different crypto assets in the current market.

Market Insights and Future Prospects

The ongoing outflows from Ether ETFs and the corresponding price decline reflect broader market trends and investor apprehensions. As the crypto industry evolves, stakeholders remain attentive to regulatory developments and potential shifts in market dynamics.

In conclusion, the recent $796 million outflow from Ether ETFs serves as a critical indicator of market sentiment and underscores the need for strategic foresight and adaptability in navigating the ever-changing crypto landscape.

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It is advised to store your Bitcoin securely, preferably choosing cold wallets over custodial wallets from crypto exchanges. There has been a noteworthy increase in Bitcoin adoption in Australia, with the percentage of ownership increasing from 23% in 2023 to 32.5% in 2025, a whopping 41.3% surge. This article provides a comprehensive guide on the various secure and accessible methods to invest in Bitcoin in Australia.

Bitcoin is deemed legal in Australia, although it is not recognized as a legal tender. The Australian government treats Bitcoin and other cryptocurrencies as property. Any profits made from Bitcoin trading are subjected to capital gains tax (CGT). AUSTRAC ensures Anti-Money Laundering (AML) and counter-terrorism-financing (CTF) compliance. A significant 2025 update required major crypto platforms to obtain an Australian Financial Services License (AFSL) for enhanced consumer protection.

Before purchasing Bitcoin in Australia, it is crucial to understand the legal framework and choose a reliable platform like CoinSpot, Swyftx, or Binance. All these exchanges comply with local regulations, ensuring safe trading. Setting up a non-custodial wallet such as Trust Wallet or Exodus is recommended for maintaining control over your private keys. Always check transaction fees associated with your chosen payment method to avoid any unexpected charges.

Buying Bitcoin through a centralized exchange like CoinSpot involves creating an account, adding a payment method, navigating to the Bitcoin purchase section, entering the amount of Bitcoin you wish to buy, checking the transaction details, and finally confirming the purchase. On the other hand, purchasing Bitcoin using non-custodial wallets like Trust Wallet involves setting up the wallet, linking a payment method, selecting Bitcoin and starting the purchase, and finally confirming and completing the transaction.

Buying Bitcoin on a decentralized exchange (DEX) like Uniswap involves setting up a crypto wallet, connecting to the DEX, selecting Bitcoin, reviewing and approving the transaction, and finally confirming and completing the purchase. Similarly, purchasing Bitcoin via P2P platforms like Binance P2P involves creating an account, searching for Bitcoin offers, starting a trade, making the payment, and receiving your Bitcoin.

You can also buy Bitcoin in Australia using Bitcoin ATMs. This process involves finding a Bitcoin ATM, verifying your identity, starting the transaction, entering your wallet address, depositing the money, and finally confirming and completing the purchase. Lastly, purchasing Bitcoin ETFs in Australia involves choosing a brokerage platform, completing KYC verification, depositing funds, searching for Bitcoin ETFs, placing your order, and confirming the purchase.

Regardless of the method chosen, always ensure to store your Bitcoin securely after purchase using a platform that complies with ASIC and AUSTRAC regulations. Choose cost-effective payment methods and move your purchased Bitcoin to a non-custodial wallet for maximum security.

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SEC Delays Decision on Valkyrie’s Bitcoin ETF

The SEC has delayed its decision on whether to approve Valkyrie Digital Assets’ proposed Bitcoin ETF. The regulatory body announced on June 28 that it needed more time to review the application. The decision was disappointing news for Valkyrie and the broader crypto community, which had been eagerly awaiting the SEC’s ruling. The delay means that it’s uncertain when or if the ETF will be approved.

Crypto Enthusiasts Await SEC’s Ruling

Many crypto enthusiasts are eagerly awaiting the SEC’s ruling on Valkyrie’s Bitcoin ETF. If the ETF is approved, it would be a major milestone for cryptocurrencies, signaling greater mainstream adoption of digital assets. However, if the SEC rejects the application, it would be a setback for the industry. Some experts believe that the SEC’s delay could indicate that the regulatory body is taking a more cautious approach to crypto-related products and may require more extensive reviews before approving them.

Valkyrie Digital Assets’ ETF in Limbo

The SEC’s delay has left Valkyrie Digital Assets’ Bitcoin ETF in limbo. The regulatory body has not provided a timeline for when it will make a decision on the application. This uncertainty has made it difficult for Valkyrie to plan for the future and has left many investors wondering whether the ETF will ever be approved. However, Valkyrie remains optimistic about the ETF’s prospects and has said that it will continue to work with the SEC to address any concerns.

What’s Next for the Proposed Bitcoin ETF?

It’s unclear what the future holds for Valkyrie Digital Assets’ proposed Bitcoin ETF. The SEC’s delay has left the ETF’s fate up in the air, and it’s uncertain when or if the regulatory body will approve the application. However, despite the setback, many in the crypto community remain optimistic about the future of digital assets. As the crypto industry continues to grow, it’s likely that we’ll see more proposals for ETFs and other crypto-related products in the coming years. And who knows, maybe one of those proposals will be the one to finally get the SEC’s stamp of approval.

While the delay in the SEC’s decision on Valkyrie’s Bitcoin ETF may be disappointing for some, it’s important to remember that regulatory bodies have an important role to play in protecting investors and ensuring the stability of financial markets. As the crypto industry continues to evolve, it’s likely that we’ll see more proposals for ETFs and other crypto-related products. And who knows, maybe one of those proposals will be the one to finally get the SEC’s stamp of approval.

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The heavy buying volume coincided with liquidations of leveraged long positions in BTC futures, reaching an eight-day high at $239 million, according to data from crypto analysis firm Glassnode. Per Glassnode, the highest liquidations seen since last year’s March crashes were mostly associated with BitMex, followed by Binance and OKEx.

The tradeable bitcoin ETF is on the Toronto Stock Exchange (TSX) under the ticker BITI. The BITI fund tracks the inverse performance of bitcoin through its holdings in the ProShares Short Bitcoin ETP.

The BITI ETF is a Short Bitcoin ETF. The fund tracks the inverse performance of bitcoin through its holdings in the ProShares Short Bitcoin ETP. This itself is a leveraged exchange-traded note (ETN) that trades on the Toronto Stock Exchange (TSX)

According to crypto derivatives data provider Skew, Biti reached a high of 6.2 million Canadian dollars (C$) on July 22, which is more than twice its launch volume at C$3 million.

The ProShares Short Bitcoin ETF is a fund that tracks the inverse performance of bitcoin. However, its holdings in the ProShares Short Bitcoin ETP. The ETF has seen its trading volume increase significantly since it launched on July 10. It is rising from C$3 million to C$6.2 million last week alone.

According to crypto derivatives data provider Skew, Biti reached a high of 6.2 million Canadian dollars (C$) on July 22. The volume is more than twice its launch volume at C$3 million. The recent spike in trading volume coincides with increased demand from longs. They are liquidating their positions due to market volatility following news about a potential SEC approval for a UBS Winklevoss ETF application earlier this month (the ruling was later rescinded).

The heavy buying volume coincided with liquidations of leveraged long positions in BTC futures. It is reaching an eight-day high at $239 million, according to data from crypto analysis firm Glassnode.

Read More: Is bitcoin dead? Will BTC Rise up Again?

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Visa Inc is the world’s largest payment network that has launched an exclusive VIP crypto credit card known as ‘bitcoin block’. It is known as Bitrcoinblack in the  United Arab Emirates, a press release stated on July 3.

Furthermore, as per the recent press release, the card was first launched in 202. It is available by inviting only 10,000 members around the globe. It allows teh users to convert their Bitcoin (BTC) as well as other major cryptos into spendable cash. Also, invitations are requestable via the bitcoin black website.

Reportedly, the card is getting security by the holder’s cryptocurrency. Also, it offers premium benefits such as a no-spend limit in any place in the world where Visa is acceptable. As well as rewards of up to 10% back in exclusive SPND tokens.

Visa Offering Easy access to luxury goods via crypto

This Visa’s exclusive card allows its owners to spend rewards on various luxury items. The user can spend th in bitcoinblack’s Haute Living Luxury Marketplace. It is “a curate-able online boutique that includes luxury watches, purses, cars, charter jet deals, private mansion access and more. It will be launching soon.

Read More: El Salvador Buying the Dip: Bitcoin at $19K to Reap Drastic Benefits

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Cryptocurrencies are the digital gold of today’s era. However, with each passing day, Bitcoin has been going downwards since Nov 2021. This is when the markets are at their best, and crypto is hitting the all-time high of $3 trillion. 

Therefore, some believe that BTC is dead for the 458th time. The Critic of bitcoin has often come forward when the markets are getting hit with the regulations, rate hikes or tightening policies.

As per 99Bitcoins’ data, the largest reserves of the cryptocurrency have been called “Dead”. This is a minimum of 458 since 2010, and even 19 cases were recorded this year. 

However, the Co-Founder of ReSource, Ashley Taylor Buck, believes that Bitcoin is still alive “more than ever.” 

“It is the strongest use case for a third, neutral, non-partisan monetary system. It is the only large-scale, truly decentralized network that will handle the volume of cash necessary for sovereign and nation-states to trust and transact with each other. There is also no chance it can disappear because the blockchain is running on satellites in space,” Buck told Be[in]Crypto.

Furthermore, Buck has also given two of the most important reasons. One on a macro level responsible for the latest crypto crash is the US Federal Reserve’s (Fed) rate hike. Second is the alarming levels” and mass overleveraging with margin calls and liquidations. 

In addition, Celsius Network’s flush of liquidations has also had a major impact on the decentralized finance (DeFi) ecosystem. Also, Buck believes that Celsius’s recent actions will potentially cause long-term damage.

Is There Any Hope or Bitcoin Dead?

The crypto space has lost around two-thirds of its all-time high total market capitalization since Nov. 2021. However, with the current bullish moves and funding, Magic Eden’s $130 million deal. 

For example, the market has also shown signs of hope. According to CoinMarketCap data, the industry’s market cap is consolidating around the $940 billion mark.

Buck says that the real projects will continue to build, and the fundamentals remain intact. She says that the retail perception and trust of the space have changed. The dynamics are changing because of the circumstances, and they will take time to recover because it’s “hard to bring trust back

Suggested Reads: Crypto Crashed. Here’s How Crypto Investors Can Fix Things

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We have just witnessed a game-changing moment in the stablecoin sector. It presents enormous implications for the broader digital asset industry. 

Bitcoin is taking on additional utility as a  reserve asset for Terra’s stablecoin (UST) in a move led by the Luna Foundation Guard. 

It is the first sizable stablecoin of its kind to make such a  move, but it won’t be the last. While this could positively affect UST’s stability during times of increased volatility, that alone is not the whole story.!

Using Bitcoin as a reserve asset backing stablecoins addresses some of the regulatory concerns. These concerns are regarding the reserves of other leading stablecoins.

It embeds Bitcoin in the broader digital asset ecosystem. Moreover, the new collateral layer is supporting decentralized finance, metaverse economies, and new terrain yet to be explored. 

But before we get into that, there is an interesting parallel between what is happening in the stablecoin sector and the changes potentially taking place in the global monetary rules of engagement, and more specifically, the increased demand for bearer reserve assets regardless of the Collateral Layer.

Bretton Woods III: greater demand for ‘outside money with the Collateral Layer

Credit Suisse money markets and rates strategist Zoltan Pozsar recently published a research piece. He suggested that as a result of the sanctions imposed on Russia for the war in  Ukraine, so-called “inside money” will be replaced by “outside money” to back the value of fiat currency. Inside Money is a monetary instrument that exists as a liability on another entity’s balance sheet, such as government bonds. Outside Money is not a liability on another entity’s balance sheet. These are bearer assets like gold and Bitcoin.  

Rethinking how to build stablecoins 

To build a successful stablecoin, you need two things: demand for the currency and reserves that back it. The latter has been addressed in several ways, with top stablecoins such as USDT  and USDC. They are holding a basket of assets in reserve, usually cash, government debt or commercial paper (Inside Money). But this model is now facing regulatory uncertainties as financial regulators. It’s increasingly recognizing that stablecoins are exposing to similar vulnerabilities just like the money market funds. There is a lack of transparency regarding reserve assets. 

Algorithmic stablecoins: decentralized reserve assets using smart contracts

Algorithmic stablecoins use intelligent contracts to maintain the peg automated and programmable, typically with digital assets as the collateral. The digital asset industry has long been waiting for the perfect algorithmic stablecoin to take over from all the others. If we create one that works reliably during intense, volatile market conditions, it could scale infinitely to whatever size the digital asset economy demands. 

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At the time of writing, Bitcoin started a fresh decline below the $40,000 and $39,000 levels. Further, the price is trading below $40,000 and the 100 hourly simple moving average.

There is a key bearish trend line forming with resistance near $38,500 on the hourly chart of the BTC/USD pair [Data from Kraken].

Also, this pair might continue to move down to $35,000 unless it recovers above $39,000.

Technical Analysis: Bitcoin Price Rises Decline

Bitcoin price has seen another major decline after it failed to stay above the $42,000 support. BTC broke many important supports near $40,000 to enter a bearish zone at the time of scripting. 

Furthermore, the price has accumulated bearish momentum below the $39,000 level and the 100 hourly simple moving average. Also, it even dropped below the $38,000 support level and traded as low as $37,801. The current price action suggests more downsides below $37,800.

In addition, if there is an upside correction, the bitcoin price might face resistance near the $38,500 level. It is close to the 23.6% Fib retracement level of the recent decline from the $41,920 swing high to $37,801 low at the time of scripting. 

Moreover, there is also a key bearish trend line forming with resistance near $38,500 on the hourly chart of the BTC/USD pair. The first key resistance is near the $39,800 level. It is close to the 50% Fib retracement level of the recent decline from the $41,920 swing high to $37,801 low.

Data from Kraken

A clear move above the trend line resistance and then a move above $39,800 might start a steady increase. The next major resistance for the bulls may possibly be near the $40,500 level and the 100 hourly simple moving average.

More Drubbings in BTC?

Technical Analysis Bitcoin: If bitcoin fails to clear the $38,500 resistance zone, it could continue to move down. Immediate support on the downside is near the $37,800 zone.

The next major support is seen near the $37,400 level. If there is a downside break below the $37,400 support, the price might start a major decline. Further, there is a risk of a move towards the $35,000 level in the stated case.

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At the time of scripting, we’ve found out, Bitcoin found support near the $34,300 and $34,500 levels.

The price is trading above $38,000 and the 100 hourly simple moving average. There is a key bullish trend line forming with support near $37,600 on the hourly chart of the BTC/USD pair./ 

Further, the pair could rise further if there is a clear move above $39,500 and $40,000.

Bitcoin Reversed and Gains Momentum

Bitcoin price extended decline below the $35,000 support zone. However, BTC found support near the $34,300 and $34,500 levels. A low was formed near $34,333, and the price started a strong upward move at the time of writing. 

Further, the price climbed above the $36,500 and $37,000 resistance levels. The bulls were able to push the price above the $38,000 level and the 100 hourly simple moving average. Even spiked above the $39,500 resistance level, but there was no upside continuation.

Moreover, a high is formed near $39,739, and the price is now consolidating gains. It traded below the 23.6% Fib retracement level of the upward move from the $34,333 swing low to $39,739 high.

In addition, Bitcoin is now trading above $38,000 and the 100 hourly simple moving average. There is also a key bullish trend line forming with support near $37,600 on the hourly chart of the BTC/USD pair.

| Source:

On the upside, immediate resistance is near the $39,200 level. The next key resistance is near the $39,500 level. The main resistance is still near the $40,000 level. A clear move above the $40,000 resistance could send the price further higher. In the stated case, it could even test $41,200. Bitcoin reverse has clearly changed the game!

Dips Limited in BTC?

If bitcoin fails to clear the $39,500 resistance zone, it could start a downside correction. Immediate support on the downside is near the $38,000 zone.

The next major support is seen near the $37,800 level and the trend line. If there is a downside break below the trend line support, the price might gain bearish momentum towards $36,000.

Technical Indicators:

Hourly MACD – The MACD is now gaining pace in the bullish zone.

Major Resistance Levels – $39,200, $39,500 and $40,000.

Major Support Levels – $38,000, followed by $37,800.

Hourly RSI (Relative Strength Index) – The RSI for BTC/USD is well above the 50 level. 

The post Technical Analysis: Bitcoin Reverse Losses, But Why $40K Still Is The Key appeared first on Crypto Market Insights: Dive In with CryptoUpdate.io.

Lately, Nirmala Sitharaman, the Finance minister during Union Budget of the year 2022 presentation. She had also announced that the investors of the cryptocurrency and bitcoin will need to make the payment of about 30 per cent of the tax. The chargeable tax will be on the gains from various virtual assets like the NFTs, Bitcoin or cryptocurrencies. Budget for the year 2022 has also proposed to simply introduce under the section 115BBH. Whereby also introducing the tax on gains from some of the virtual assets.

Taxation on Bitcoin and other cryptocurrency

On the other hand, Sitharaman has also lately clarify that the taxing of the virtual assets does not actually mean that Bitcoin and other cryptocurrency. It is considered to be legal in country.

In such kind of the conversation where Sudhir Chaudhary, has also reiterated that the cryptocurrency or other kind of the digital assets must even be quite much inclusive as the government is now backing. It required for the currency to simply function in the level of clarity and transparency. She even added about the explanation related crypto which must be quite crystal clear.

In the meantime, Indian government is recently working on the Bill to simply regulate the cryptocurrency. Moreover, government also had plans for the purpose of introducing the bill on the cryptocurrencies such as Bitcoin.

The RBI is in the favour of the complete ban on speculative assets. They also said the cryptocurrencies also hold not any such underlying value. Even it known as a key threat to the financial stability.

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