OFAC claims Funnull Technology purchased a code repository used by web developers and altered it to redirect legitimate websites to scam websites.

US sanctions Philippines tech firm accused of aiding crypto scams

The significant outflow from BlackRock&#8217;s Bitcoin ETF highlights potential 
volatility and investor uncertainty in the cryptocurrency market.
The post BlackRock&#8217;s Bitcoin ETF sheds $430 million, its largest single-day 
outflow appeared first on Crypto Briefing.

BlackRock’s Bitcoin ETF sheds $430 million, its largest single-day outflow

Bitcoin’s recent upward trajectory has encountered resistance after reaching a 
record-breaking peak of over $111,000 last week. Following this new all-time 
high, Bitcoin has retraced approximately 4% in the past seven days, bringing 
its current trading price down to $105,485. This represents a daily decline of 
1.8%, reflecting cautious market sentiment and potential profit-taking among 
traders. In light of these recent price movements, a CryptoQuant analyst has 
been closely observing market dynamics, particularly concerning the launch of 
the Bitcoin Exchange-Traded Fund (ETF). A detailed analysis provided by Joao 
Wedson, a contributor to CryptoQuant’s QuickTake platform, has shed new light 
on the liquidation trends observed in Bitcoin compared to other 
cryptocurrencies, also known as altcoins. Related Reading: This Chart Warns 
Bitcoin’s Momentum May Be Running Out, Here’s Why Liquidation Disparity 
Between Bitcoin and Altcoins Since the launch of the Bitcoin ETF, market 
behaviors have demonstrated a notable divergence between Bitcoin and altcoin 
liquidations. According to Wedson, Bitcoin liquidations on Binance have 
predominantly involved short positions, indicating traders who bet against 
Bitcoin were systematically liquidated during its recent price rise. 
Specifically, the Cumulative Liquidation Delta (CLD) showed short liquidations 
surpassing longs by approximately $190 million. This suggests market 
participants holding bearish positions were compelled to exit as Bitcoin’s 
value surged, pushing the price further upward. In stark contrast, altcoins 
have experienced a markedly different scenario. During the same period, 
altcoins faced nearly $1 billion more in long liquidations compared to shorts. 
This liquidation imbalance indicates that traders betting on a broad altcoin 
recovery faced substantial losses. The sustained downward pressure on altcoins 
reveals the failure of expectations surrounding an &#8220;Altseason,&#8221; a period when 
alternative cryptocurrencies typically outperform BTC. Implications of Market 
Asymmetry The distinct patterns in liquidations between BTC and altcoins 
reflect critical shifts in investor risk sentiment and leverage usage. BTC’s 
favorable price performance primarily impacted traders with bearish outlooks, 
forcing the liquidation of short positions and contributing to a bullish 
market perception. Conversely, the altcoin sector’s persistent price declines 
have led to widespread liquidation of bullish positions, highlighting the 
misalignment between trader expectations and actual market behavior. According 
to Wedson, since December 2024, this liquidation asymmetry has widened 
considerably, underscoring a shift in market focus. Investors have 
increasingly viewed BTC as a safer or more reliable bet amidst broader market 
uncertainty, while altcoins have suffered due to heightened leverage and 
speculative positioning. Related Reading: Bitcoin Surges With Low Retail 
Interest – Is A Second Wave Coming? This trend has intensified following the 
ETF’s approval, as traders appear more confident betting on Bitcoin’s 
stability and growth potential compared to the volatility and unpredictability 
of the altcoin market. Moving forward, the current market conditions suggest 
that investors may continue to approach Bitcoin with measured optimism while 
maintaining a cautious stance toward altcoins. Featured image created with 
DALL-E, Chart from TradingView

Bitcoin’s Price Sees Drop as Altcoin Traders Face Increased Pressure

A strategic pivot among investors is becoming clear as capital shifts from 
traditional safe havens to digital alternatives. Over the past five weeks, 
U.S.-based bitcoin ETFs attracted more than $9 billion in inflows, 
predominantly led by Blackrock’s Ishares Bitcoin Trust (IBIT), while gold ETFs 
experienced over $2.8 billion in outflows. Analysts cite bitcoin’s rising 
appeal […]

Bitcoin ETFs Soar as Investors Flee Gold Holdings

Meta&#8217;s rejection of Bitcoin treasury assessment highlights a cautious approach 
to cryptocurrency, prioritizing traditional asset management.
The post Meta shareholders reject Bitcoin treasury assessment proposal, board 
directors call it &#8216;unnecessary&#8217; appeared first on Crypto Briefing.

Meta shareholders reject Bitcoin treasury assessment proposal, board directors call it ‘unnecessary’

Sharplink Gaming intends to use most of the proceeds from its proposed share 
sell-off to purchase Ether, according to a recent SEC filing.