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UOB Global Economics & Markets Research’s Quek Ser Leang says the yield’s weekly chart signals rising risk of a deeper pullback. Last week’s pullback has continued and is gathering momentum this week.
Bitcoin continued to outperform altcoins, which fell 2% to 5% over 24 hours, while U.S. spot Bitcoin ETFs recorded $679 million in weekly outflows and Ethereum ETFs shed $542 million. Bitcoin dominance climbed toward 59.5%, according to the report.
Bitcoin-linked ETFs were among the most actively traded funds Wednesday as a sharp pullback in Bitcoin (CRYPTO: BTC) sent both the ProShares Bitcoin Strategy ETF (NYSE: BITO ) and iShares Bitcoin Trust ETF (NASDAQ: IBIT ) lower. Both BITO and IBIT were down more than 3%, seeing substantial trading activity, underscorin