Key Highlights

  • Bitcoin spot ETFs see $195 million in net outflows.
  • Bank of Japan leans towards a rate hike at December meeting.
  • JPMorgan: MicroStrategy's ability to hold BTC key to Bitcoin's short-term trajectory.
  • Aster team burns $80 million worth of buyback funds on-chain.
  • Base launches Solana cross-chain bridge, enabling bidirectional asset transfer.
  • UK hacker arrested in Dubai linked to $243 million Genesis creditor theft.
  • Cloudflare fix under monitoring after service disruption.
  • Chinese police announce $1.9 million in unclaimed USDT.
  • IMF warns stablecoins could weaken monetary sovereignty.
  • BlackRock CEO: Bitcoin is a 'flight to quality' asset.

Detailed Analysis

Bitcoin spot ETFs experienced net outflows of $195 million yesterday, with none of the 12 funds recording net inflows. This comes as sources indicate the Bank of Japan is leaning towards raising interest rates at its December meeting, a move that could push interest rates to their highest levels since 1995. Meanwhile, the IMF warns that stablecoins could weaken monetary sovereignty, particularly in emerging markets and developing economies.

Elsewhere, the Aster team announced the burning of $80 million worth of buyback funds, while Base launched a cross-chain bridge to Solana, enabling bidirectional asset transfer. In other developments, a UK hacker was reportedly arrested in Dubai in connection with the theft of $243 million from Genesis creditors in 2024. Following a service disruption, Cloudflare announced that repairs have been completed and results are being monitored. In China, police announced the discovery of $1.9 million in unclaimed USDT, while the CEO of BlackRock warned that Bitcoin is a "flight to quality" asset favored by investors in times of uncertainty.

Finally, Morgan Stanley analysts believe that MicroStrategy's ability to hold out and avoid forced Bitcoin sales is key to Bitcoin's short-term trajectory. These developments come in the context of reports of major financing and acquisition deals in the cryptocurrency sector, suggesting continued institutional interest in the sector despite the risks and challenges.


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