Bitcoin-focused Solv Protocol was exploited on Thursday, resulting in roughly 
$2.7 million worth of funds drained from one of its token vaults. The project 
has offered a 10% bounty to the attackers. Solv Protocol is a DeFi platform 
that allows…

Solv Protocol exploit drains $2.7M in SolvBTC, 10% bounty offered

A U.S. government contractor accused of stealing more than $46 million in 
crypto from the U.S. Marshals Service has been arrested in Saint Martin 
following a joint international law enforcement operation, according to the 
FBI. John Daghita captured in a…

John Daghita arrested in Saint Martin for alleged $46M crypto theft

The crypto market pulled back on Friday following a strong rebound on 
Thursday. After rallying nearly 5.5% over the past day, the global crypto 
market capitalization once again retracted, dropping 2% to $2.48 trillion on 
Friday, March 6. Bitcoin (BTC)…

Why is crypto market going down today? (March 6)

The altcoins with “real world” traction and application will be the winners of 
the next altcoin season, says Bitwise’s Matt Hougan.

Altcoin seasons are over, expect ‘non-traditional’ cycles ahead: Bitwise CIO

Data shows the Bitcoin spot exchange-traded funds (ETFs) have seen their 
14-day netflow trend climb into the positive territory, ending a period of 
sustained outflows. Bitcoin Spot ETF Netflow Has Been Rising Recently As 
highlighted by on-chain analytics firm Glassnode in a new post on X, the 
Bitcoin spot ETFs have seen their 14-day netflow trend climb higher recently. 
&#8220;Spot ETFs&#8221; refer to investment vehicles that allow investors to gain indirect 
exposure to an underlying asset&#8217;s price movements. Related Reading: Bitcoin 
Surge To $74,000 Fueled By US Institutions, Coinbase Premium Signals In the 
United States, the Securities and Exchange Commission (SEC) approved spot ETFs 
for Bitcoin back in January 2024. Thus, these funds have now been active for 
more than two years. Since spot ETFs trade on traditional markets, they 
provide for an off-chain route into BTC. Whenever a trader invests into them, 
the fund buys the on-chain tokens and custodies them on their behalf. This 
convenience of the vehicles has made them a popular mode of investment among 
the more traditional investors, like institutional entities. Now, here is the 
chart shared by Glassnode that shows the 14-day netflow trend for the Bitcoin 
spot ETFs over their history so far: As displayed in the above graph, the 
14-day Bitcoin spot ETF netflow trend has witnessed a sharp rise into the 
positive territory recently. Note that Glassnode defines &#8220;netflow&#8221; as the 
30-day change in the combined holdings of the US-based funds. Earlier, the 
netflow trend had dropped into the negative territory, implying outflows were 
dominating the market. Not only that, the negative netflows had been 
persistent, so there was consistent selling pressure coming from ETF users. 
With the recent surge in the metric, however, the trend appears to have 
flipped. From the chart, it&#8217;s visible that the indicator has witnessed a 
continuation to the growth as the Bitcoin price has rallied above the $70,000 
level. &#8220;Institutional demand remains tentative, but early re-accumulation 
signs are emerging,&#8221; noted Glassnode. It now remains to be seen whether spot 
ETFs will follow this trajectory in the near future or if another cooldown 
will happen. Related Reading: Bitcoin Historically Bottoms Between These MVRV 
Levels—Where Are They Now? In some other news, the Binance Bitcoin Net Taker 
Volume has shot up recently, as CryptoQuant community analyst Maartunn has 
pointed out in an X post. The Net Taker Volume is an indicator that keeps 
track of the difference between the taker buy and taker sell volumes on a 
given exchange (which, in the current case, is Binance). As is visible in the 
above graph, the 7-hour moving average (MA) of the Binance Bitcoin Net Taker 
Volume has seen a notable positive spike close to $100 million, suggesting 
taker buy volume has outpaced the taker sell one. &#8220;The current pump is 
mirroring the moves from Nov 7 and Nov 25,&#8221; said Maartunn. BTC Price At the 
time of writing, Bitcoin is trading around $71,000, up more than 5% in the 
last seven days. Featured image from Dall-E, chart from TradingView.com

Cryptocurrency price in UAH