South Korean traders are known for pushing euphoric rallies on tokens, contributing to buying pressure and possibly influencing prices.

Trading volume in XRP and dogecoin (DOGE) is much higher than that of bitcoin (BTC) on South Korean crypto exchanges this week, a frenzy that may have helped raise prices of the two tokens in the crazed market.

CoinGecko data shows XRP and DOGE have cumulatively accounted for as much as 30% of trading volumes on Upbit, the country’s biggest exchange, and nearly 20% on Bithumb in the past 24 hours. That is unusually higher than usual leader bitcoin and indicates a short-term demand for the tokens in the country.

Part of these volumes could be attributed to wash trading, however, where automated programs continuously trade a token to give the illusion of a heavily traded market.

Upbit led XRP volumes in dollar terms across all global exchanges in the past 24 hours, including venues such as Binance and Coinbase, the data shows. (These trades were placed against Korean won but have been converted to U.S. dollars at current exchange rates).

Binance and Coinbase, however, lead DOGE trading volumes across global exchanges.

XRP and DOGE were the best-performing majors in the past weeks as BTC hit new lifetime highs. Both tokens are up more than 100% in the past 14 days, data shows, with their futures products surging to yearly highs.

In crypto circles, South Korean traders are known for pushing euphoric rallies on tokens, contributing to buying pressure and possibly influencing prices.

Gains in XRP started last week as the shifting U.S. regulatory climate supported growth in tokens related to companies hampered by the Securities and Exchange Commission’s (SEC) actions (XRP is closely related to Ripple Labs).

Meanwhile, DOGE has surged following a Republican win at the U.S. elections and a renewed promotional push by technocrat Elon Musk — who has been picked to lead the proposed Department of Government Efficiency (D.O.G.E) non-governmental unit under a Trump administration.

As such, attention from South Korean markets may mark a local top for tokens as it a sign of froth, as a CoinDesk analysis previously noted.
However, CoinDesk markets analyst Omkar Godbole sees growth in XRP prices in the near term.

“XRP is holding steady above $1 after a powerful rally—the strongest in three years! While intraday charts hint at a possible pullback, it could set the stage for another upward move,” Godbole said.

“Momentum indicators on longer charts are firmly bullish. Key supports to watch out for are 96 cents and 65 cents. Resistance looms at $1.26 and $1.40, echoing the supply zone from September 2021,” he added.

XRP trades at just over $1 as of Asian afternoon hours Wednesday. DOGE is just under 40 cents.

The post Dogecoin, XRP Trading Volumes Flip Bitcoin’s in South Korea appeared first on Crypto Insider.

The total market cap of the mining stocks tracked by the bank grew 33%, the report said.

Bitcoin (BTC) mining economics improved in the first half of November as the hashprice rose, JPMorgan (JPM) said in a research report on Monday.

The hashprice, a measure of mining profitability, “increased 29% since the end of October as the BTC rally outpaced network hashrate growth and transaction fees increased as a percentage of the block reward,” analysts Reginald Smith and Charles Pearce wrote.

The total market cap of the mining stocks the bank tracks surged 33%, or around $8 billion, from Oct. 31 to Nov. 15 owing to “BTC gains and broader crypto optimism post election,” the authors wrote.

Bitcoin, the world’s largest cryptocurrency, surged as much as 30% to all-time highs following Donald Trump’s victory in the U.S. presidential election earlier this month.

The network hashrate has risen 2% month-to-date to an average of 718 exahashes per second (EH/s), the report said. Hashrate refers to the total combined computational power used to mine and process transactions on a proof-of-work blockchain and is a proxy for competition in the industry and mining difficulty.

The 14 U.S.-listed miners in the bank’s coverage now account for about 28% of the global network, and their share of the network hashrate remains at record highs.

The post Bitcoin Mining Economics Improved in the First Half of November: JPMorgan appeared first on Crypto Insider.

According to BCA Research analysis of fractal patterns, the bitcoin price might climb above $200,000.

While bitcoin (BTC) is still hovering below the six-figure mark, one firm is confidently predicting the price could more than double from the current market rate of $90,000.

Yes, you read that right. According to BCA Research, bitcoin’s ultimate target could be more than $200,000.

The prediction is based on bitcoin’s “260-day fractal dimension complexity,” a measure of the patterns that appear in bitcoin’s price changes. The metric remains well above 1.20, a threshold that has signaled bull market peaks when the reading is lower. BCA Research suggests that this time a drop below that level could correspond to prices exceeding $200,000.

The gauge measures the complexity of the price changes over 260 days. It is a signal based on the quantification of the dimensionalities of fractals, which are patterns that appear at various scales and are often observed in nature and mathematics. In financial markets, fractal analysis identifies recurring patterns and informs predictions.

A higher fractal dimension complexity means difficulty interpreting price trends, making market movements more unpredictable. A declining reading suggests that price patterns are becoming more predictable and stable. Low readings can represent complacency in the market, a false sense of security among traders that prices could continue to move in a particular direction. Such a situation is usually seen at bull market tops.

“Despite bitcoin’s election-fueled rally, its 260-day complexity is not yet close to the 1.2 level that would signal the start of another crypto winter,” the BCA Research team led by Chief Strategist Dhaval Joshi said in a Nov. 14 note to clients. “Hence, while we should expect a near-term retracement, bitcoin’s structural uptrend is intact with an ultimate destination of $200,000+.”

The team said the value of bitcoin’s network effect has substantial upside and as global wealth rises, the value of the network effect of both gold and bitcoin will also increase.

“In the case of both gold and bitcoin, their network effect comes from the collective belief that they are the non-confiscable assets to own in a fiat monetary system. And that certain portion of total wealth must be held in these non-confiscable assets as an insurance against hyperinflation, banking system failure, or state expropriation.”

The post Bitcoin Near a Record High Might Be Just Half the Journey as BCA Research Signals $200K appeared first on Crypto Insider.

NEW YORK, Nov. 17, 2024 (GLOBE NEWSWIRE) — Apollo (NYSE: APO) today announced it has opened an office in Seoul and that Jay Hyun Lee has joined the firm as a Partner and Head of Korea to help execute and build on its growth plans in the market.

Apollo has established a successful track record over more than 15 years in Asia Pacific, providing capital and retirement solutions to assist, support and partner with institutions across various geographies, including South Korea. The firm has grown its operational presence across Tokyo, Sydney, Hong Kong, Mumbai and Singapore since 2006.

As Head of Korea, Lee will help drive Apollo’s capital formation strategy, institutional relationships and team growth in the country. He brings 25 years of financial services experience to the role, having most recently served as Senior Executive Vice President for Samsung Securities where he led the integration and management of the firm’s M&A, securities underwriting and corporate investment functions.

“Korea is a leading financial hub where we see a tremendous opportunity to serve investors and retirees across the risk-return spectrum and meet businesses’ growing demand for flexible, creative capital solutions,” said Scott Kleinman, Co-President of Apollo Asset Management. “We are thrilled to welcome Jay Hyun as we continue to strengthen our presence across Asia Pacific and execute our global growth strategy.”     

Apollo Partner and Head of Asia Pacific Matt Michelini added, “As we grow our franchise in Korea, we are excited to work alongside pensions, insurers and other institutions as a scaled provider of excess return. We expect our reach will extend across the region’s retirement ecosystem, where we also aim to deliver yield-oriented solutions to individuals and savers seeking duration-matched income products.”

“Apollo has an incredible platform delivering private capital and retirement solutions to clients globally and I am excited to lead their efforts on the ground in Korea. I look forward to working with Matt and the team across Asia Pacific and the globe to build upon the strong momentum in the region,” added Jay Hyun Lee, Apollo Partner and Head of Korea.

Prior to Samsung Securities, Lee served as Managing Director, Head of Korea in Private Equity and Growth Equity for Goldman Sachs. Previously, he held roles as Head of Korea Investment Banking for BNP Paribas, Executive Director of Investment Banking at Goldman Sachs and additional roles at J.P. Morgan, KPMG Korea and Korea Long Term Credit Bank. Lee received his DBA from Hong Kong Polytechnic University, his MBA from the University of Pennsylvania’s Wharton School of Business and his BA from Seoul National University.

In addition to Lee, the firm has appointed Dr. Sam Young Chung, Professor at Yonsei University and Head of AIF APAC, as an Academic Advisor in Asia Pacific to apply his academic expertise to the firm’s work at the intersection of retirement solutions and alternative assets.

About Apollo
Apollo is a high-growth, global alternative asset manager. In our asset management business, we seek to provide our clients excess return at every point along the risk-reward spectrum from investment grade credit to private equity. For more than three decades, our investing expertise across our fully integrated platform has served the financial return needs of our clients and provided businesses with innovative capital solutions for growth. Through Athene, our retirement services business, we specialize in helping clients achieve financial security by providing a suite of retirement savings products and acting as a solutions provider to institutions. Our patient, creative, and knowledgeable approach to investing aligns our clients, businesses we invest in, our employees, and the communities we impact, to expand opportunity and achieve positive outcomes. As of September 30, 2024, Apollo had approximately $733 billion of assets under management. To learn more, please visit www.apollo.com.

Contacts

Noah Gunn
Global Head of Investor Relations
Apollo Global Management, Inc.
(212) 822-0540
IR@apollo.com

Joanna Rose
Global Head of Corporate Communications
Apollo Global Management, Inc.
(212) 822-0491
communications@apollo.com

The post Apollo Opens Seoul Office and Names Jay Hyun Lee Head of Korea as Part of Continued APAC Expansion appeared first on Crypto Insider.

TOKYO, Nov. 17, 2024 (GLOBE NEWSWIRE) — SurgiBox Inc., a leader in portable surgical solutions, is thrilled to announce a strategic partnership with Japanese medical distribution company, Accord International, to bring its groundbreaking SurgiField technology to the Japanese market. With regulatory approval from Japan’s Pharmaceuticals and Medical Devices Agency (PMDA) already secured, this partnership marks a significant step in expanding access to sterile, portable surgical environments across Japan.

This collaboration will enable the distribution of SurgiField, an innovative portable and inflatable sterile environment designed for safe surgeries in a variety of settings. Through this partnership, SurgiBox and Accord International aim to meet the demand for adaptable surgical solutions among hospitals, emergency medical teams, and healthcare providers in remote and disaster-prone areas throughout Japan.

Dr. Tomohisa Shoko, M.D., Ph.D., Professor and Director of Emergency and Critical Care Medicine at Tokyo Women’s University Adachi Medical Center, recently tested the SurgiField system in simulated field surgeries, including use in an ambulance. He praised the technology’s adaptability, noting its potential for safe surgeries outside traditional operating rooms—a first in Japan.

“We are excited to partner with Accord International,” said SurgiBox Business Development Director, Kelly Laurel. “This collaboration marks an important step to make safe surgery available anywhere. With Accord International’s deep network and understanding of the Japanese market, we are confident that the SurgiField will become an invaluable asset in Japan’s healthcare landscape.”

Accord International’s President, Kaname Wakabayashi, added: “Japan has many natural disasters. We look forward to working closely with SurgiBox to ensure that the SurgiField reaches those who need it most, whether in bustling cities or isolated regions.”

For further information on SurgiBox Inc., please visit www.surgibox.com or contact Kelly Laurel, Director of Business Development, at kelly@surgibox.com. For more information on Accord International Inc, please go to the website https: accord-intl.com or contact Masumi Muto, Manager of Business Development, at muto@accord-intl.com

About SurgiBox

SurgiBox Inc. is a pioneer in portable surgical care, enabling safe, sterile, and effective procedures in austere environments, disaster zones, and medical facilities overwhelmed by surgical backlogs. Through innovation and strategic partnerships, SurgiBox aims to revolutionize the delivery of surgical care.

About Accord International

Accord International imports and distributes high-performance emergency and life-saving products from the United States.

As unexpected disasters become increasingly common, ensuring safe living conditions has become more challenging. Accord International remains committed to its mission of reliably supplying top-quality products developed for emergency situations abroad to facilities across Japan, helping to create a safer environment where people can live with peace of mind.

A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/ff2f7cb7-1ec9-4921-a1fc-982774c4ee9e

The post SurgiBox Announces Strategic Partnership with Accord International to Expand into Japanese Market appeared first on Crypto Insider.

NEW YORK, Nov. 16, 2024 (GLOBE NEWSWIRE) —

WHY: Rosen Law Firm, a global investor rights law firm, reminds purchasers of securities of Terran Orbital Corporation (NYSE: LLAP) between August 15, 2023 and August 14, 2024, both dates inclusive (the “Class Period”), of the important November 26, 2024 lead plaintiff deadline.

SO WHAT: If you purchased Terran securities during the Class Period you may be entitled to compensation without payment of any out of pocket fees or costs through a contingency fee arrangement.

WHAT TO DO NEXT: To join the Terran class action, go to https://rosenlegal.com/submit-form/?case_id=29314 or call Phillip Kim, Esq. toll-free at 866-767-3653 or email case@rosenlegal.com for information on the class action. A class action lawsuit has already been filed. If you wish to serve as lead plaintiff, you must move the Court no later than November 26, 2024. A lead plaintiff is a representative party acting on behalf of other class members in directing the litigation.

WHY ROSEN LAW: We encourage investors to select qualified counsel with a track record of success in leadership roles. Often, firms issuing notices do not have comparable experience, resources, or any meaningful peer recognition. Many of these firms do not actually litigate securities class actions, but are merely middlemen that refer clients or partner with law firms that actually litigate the cases. Be wise in selecting counsel. The Rosen Law Firm represents investors throughout the globe, concentrating its practice in securities class actions and shareholder derivative litigation. Rosen Law Firm achieved the largest ever securities class action settlement against a Chinese Company at the time. Rosen Law Firm was Ranked No. 1 by ISS Securities Class Action Services for number of securities class action settlements in 2017. The firm has been ranked in the top 4 each year since 2013 and has recovered hundreds of millions of dollars for investors. In 2019 alone the firm secured over $438 million for investors. In 2020, founding partner Laurence Rosen was named by law360 as a Titan of Plaintiffs’ Bar. Many of the firm’s attorneys have been recognized by Lawdragon and Super Lawyers.

DETAILS OF THE CASE: According to the lawsuit, during the Class Period, defendants made materially false and misleading statements and/or failed to disclose to investors that:  (1) it would take much longer than defendants had represented to investors and analysts for Terran to convert its contracts with its customers (collectively, “Customer Contracts”) into revenue and free cash flow; (2) Terran did not have adequate liquidity to operate its business while waiting for the Customer Contracts to generate revenue and free cash flow; (3) Terran had concealed the true scope and severity of its dire financial situation; and (4) as a result of the foregoing, Terran’s public statements were materially false and misleading at all relevant times. When the true details entered the market, the lawsuit claims that investors suffered damages.

To join the Terran class action, go to https://rosenlegal.com/submit-form/?case_id=29314 or call Phillip Kim, Esq. toll-free at 866-767-3653 or email case@rosenlegal.com for information on the class action.

No Class Has Been Certified. Until a class is certified, you are not represented by counsel unless you retain one. You may select counsel of your choice. You may also remain an absent class member and do nothing at this point. An investor’s ability to share in any potential future recovery is not dependent upon serving as lead plaintiff.

Follow us for updates on LinkedIn: https://www.linkedin.com/company/the-rosen-law-firm or on Twitter: https://twitter.com/rosen_firm or on Facebook: https://www.facebook.com/rosenlawfirm.

Attorney Advertising. Prior results do not guarantee a similar outcome.

——————————-

Contact Information:

        Laurence Rosen, Esq.
        Phillip Kim, Esq.
        The Rosen Law Firm, P.A.
        275 Madison Avenue, 40^th Floor
        New York, NY 10016
        Tel: (212) 686-1060
        Toll Free: (866) 767-3653
        Fax: (212) 202-3827
        case@rosenlegal.com
        www.rosenlegal.com

The post ROSEN, NATIONAL INVESTOR COUNSEL, Encourages Terran Orbital Corporation Investors with Losses in Excess of $100k to Secure Counsel Before Important November 26 Deadline in Securities Class Action – LLAP appeared first on Crypto Insider.

MELVILLE, NY, Nov. 16, 2024 (GLOBE NEWSWIRE) — SmartAdvocate, a leading provider of fully customizable legal case management software, is thrilled to announce its recognition as a ‘Best of 2024’ Winner by The New York Law Journal, The New Jersey Law Journal, and The National Law Journal across multiple categories, including Best Legal Case Management Software.

SmartAdvocate has achieved this prestigious honor due to the company’s unwavering dedication to delivering innovative solutions that cater to the unique needs of legal professionals nationwide. Allison Rampolla, SVP of Sales & Marketing, remarked, ‘2024 has been a pivotal year of growth for us at SmartAdvocate, and we’re incredibly proud to have been recognized. Along with the Law Journals, we’re especially honored to have been recently awarded “Best Customer Support” and “Most Recommended” by Software Advice, a prominent review website. These accolades reflect our commitment to delivering unparalleled support to our clients as we continue to expand our impact across the legal industry’.

This marks the ninth consecutive year that SmartAdvocate has received recognition from The New York Law Journal and The New Jersey Law Journal in 4 categories for: Best Case Management Software, Best Matter Management, Best Practice Management Software and Best Document Management Solution. It is the fourth consecutive win from The National Law Journal for Best Case Management Software, Best Matter Management, Best Time & Billing Software, and Best Docketing and Calendaring Software.

This win across three esteemed law journals underscores SmartAdvocate’s role as a trusted, innovative partner within the legal community. By continuously enhancing its powerful, fully integrated platform, SmartAdvocate empowers firms to improve efficiency, optimize workflows, and deliver exceptional client service. These awards affirm SmartAdvocate’s ongoing mission to set the standard in legal case management software.

About SmartAdvocate
SmartAdvocate is a fully customizable, case management software with built-in Artificial Intelligence tools, and made to handle the challenges of today’s fast paced, highly competitive and technologically demanding legal landscape. SmartAdvocate’s robust, exclusive built-in features enable firms to manage, store, track and communicate like never before, ensuring they achieve the highest level of success.

SOURCE: SmartAdvocate

Contact: Allison Rampolla, SVP of Sales & Marketing
SmartAdvocate LLC, 516-715-0736
(Direct), allison@smartadvocate.com
Related Links: www.smartadvocate.com

Attachment

• SmartAdvocate

The post SmartAdvocate Wins 2024 Best Legal Case Management Software in New York, New Jersey, and National Law Journals. appeared first on Crypto Insider.

NEW YORK, Nov. 16, 2024 (GLOBE NEWSWIRE) —

WHY: Rosen Law Firm, a global investor rights law firm, reminds purchasers of securities of The Toronto-Dominion Bank (NYSE: TD) between February 29, 2024 and October 9, 2024, both dates inclusive (the “Class Period”), of the important December 23, 2024 lead plaintiff deadline.

SO WHAT: If you purchased TD securities during the Class Period you may be entitled to compensation without payment of any out of pocket fees or costs through a contingency fee arrangement.

WHAT TO DO NEXT: To join the TD class action, go to https://rosenlegal.com/submit-form/?case_id=30006 or call Phillip Kim, Esq. toll-free at 866-767-3653 or email case@rosenlegal.com for information on the class action. A class action lawsuit has already been filed. If you wish to serve as lead plaintiff, you must move the Court no later than December 23, 2024. A lead plaintiff is a representative party acting on behalf of other class members in directing the litigation.

WHY ROSEN LAW: We encourage investors to select qualified counsel with a track record of success in leadership roles. Often, firms issuing notices do not have comparable experience, resources, or any meaningful peer recognition. Many of these firms do not actually litigate securities class actions, but are merely middlemen that refer clients or partner with law firms that actually litigate the cases. Be wise in selecting counsel. The Rosen Law Firm represents investors throughout the globe, concentrating its practice in securities class actions and shareholder derivative litigation. Rosen Law Firm achieved the largest ever securities class action settlement against a Chinese Company at the time. Rosen Law Firm was Ranked No. 1 by ISS Securities Class Action Services for number of securities class action settlements in 2017. The firm has been ranked in the top 4 each year since 2013 and has recovered hundreds of millions of dollars for investors. In 2019 alone the firm secured over $438 million for investors. In 2020, founding partner Laurence Rosen was named by law360 as a Titan of Plaintiffs’ Bar. Many of the firm’s attorneys have been recognized by Lawdragon and Super Lawyers.

DETAILS OF THE CASE: According to the complaint, defendants provided investors with material information concerning the scope of the issues surrounding TD’s anti-money laundering (“AML”) program employed to comply with the United States’ Bank Secrecy Act (“BSA”), the ability for defendants to “fix” those issues, and the punitive and remedial compliance measures likely to be imposed upon TD through the resolution of these investigations. Defendants’ statements included, among other things, confidence in TD’s optimistic claims of updating and fixing the existing AML program, alleging a full understanding of the scope of the issues the program was facing, and setting aside specific provisional estimates as to the monetary impact of the punitive and compliance measures believed to be imposed.

Defendants provided these overwhelmingly positive statements to investors while, at the same time, disseminating materially false and misleading statements and/or concealing material adverse facts concerning the true state of TD’s AML program; pertinently, TD concealed or otherwise minimized the significance of the failures of TD’s AML program and made no indication that the imposition of an asset cap or other punitive or compliance measures would be imposed that would undermine TD’s continued growth for the foreseeable future. Such statements absent these material facts caused shareholders to purchase TD’s securities at artificially inflated prices. When the true details entered the market, the lawsuit claims that investors suffered damages.

To join the TD class action, go https://rosenlegal.com/submit-form/?case_id=30006 or call Phillip Kim, Esq. toll-free at 866-767-3653 or email case@rosenlegal.com for information on the class action.

No Class Has Been Certified. Until a class is certified, you are not represented by counsel unless you retain one. You may select counsel of your choice. You may also remain an absent class member and do nothing at this point. An investor’s ability to share in any potential future recovery is not dependent upon serving as lead plaintiff.

Follow us for updates on LinkedIn: https://www.linkedin.com/company/the-rosen-law-firm or on Twitter: https://twitter.com/rosen_firm or on Facebook: https://www.facebook.com/rosenlawfirm.

Attorney Advertising. Prior results do not guarantee a similar outcome.

——————————-

Contact Information:

        Laurence Rosen, Esq.
        Phillip Kim, Esq.
        The Rosen Law Firm, P.A.
        275 Madison Avenue, 40th Floor
        New York, NY 10016
        Tel: (212) 686-1060
        Toll Free: (866) 767-3653
        Fax: (212) 202-3827
        case@rosenlegal.com
        www.rosenlegal.com

The post ROSEN, A GLOBAL AND LEADING LAW FIRM, Encourages The Toronto-Dominion Bank Investors to Secure Counsel Before Important Deadline in Securities Class Action – TD appeared first on Crypto Insider.

FUZHOU, China, Nov. 15, 2024 (GLOBE NEWSWIRE) — Recently, at the JETOUR Global Travel+ Conference 2024 in Fuzhou, JETOUR emphasized the importance of wildlife conservation and reaffirmed its strong commitment to the pursuit of “Travel as ESG Practices”. After releasing a teaser of Discovery’s documentary “Return of the Cheetah”, JETOUR invited the documentary’s protagonist, Hazen Audel, a renowned biologist and artist, to jointly launch the charity auction for the protection of cheetahs. JETOUR announced that all proceeds from the auction will be donated to cheetah conservation, continuing its consistent support for ecological conservation.

JETOUR: Cheetah Protection will be Our Long-term Public Service

At the conference, more than 1,000 people watched the teaser of the documentary “Return of the Cheetah”. The documentary, jointly produced by JETOUR, the Discovery Channel and the Cheetah Conservation Fund, uses the Namibian grasslands in Africa as a backdrop to illustrate the plight of the cheetah around the world, and to encourage more people to get involved in this public welfare activity and help protect the environment for the survival of wildlife, including the cheetah.

While discussing cheetah conservation with Dr. Laura Marker, founder of the Cheetah Conservation Fund, and Hazen Audel, the main character in the documentary, Ke Chuandeng, Vice President of JETOUR Auto, said, “Public welfare is not just about giving. It is about encouraging more people to get involved. Through our cheetah conservation project, we hope to raise awareness of the importance of wildlife conservation and inspire more people to get involved. When we add up every small act of kindness, it creates energy that can help build a better and more harmonious world.”

Li Xueyong, President of JETOUR Auto, said, “With the development of JETOUR’s global business, we are increasingly aware of the harmonious symbiosis between economic development and the ecological environment. If we treat the earth well, the earth will treat us well. Cooperation with CCF is just the beginning. In the future, we will continue to support ecological conservation and contribute to global sustainable development.”

A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/513960e9-a7e0-4b5f-83f9-e53bb5dbfa3b

The post JETOUR Joins Hands with DISCOVERY and Cheetah Conservation Fund in Wildlife Conservation, Practicing “Travel as ESG” Philosophy appeared first on Crypto Insider.

Bitcoin’s price has now corrected approximately 6% since the all-time high break on Nov. 13.

U.S.-listed bitcoin (BTC) exchange-traded funds (ETFs) saw their third-largest outflow since launch, seeing $400.7 million being drained on Thursday, according to Farside data.

During yesterday’s trading, bitcoin witness low of around $86,600 and highs of near $92,000. Bitcoin has corrected nearly 6% from its all-time high on Nov. 13, when it pushed past $93,000.

This price action isn’t too concerning, as typically, once bitcoin sets new all-time highs, investor tend to take out their profits. In the past three days investors have cashed in $15 billion, according to Glassnode data. Bitcoin has soared over 25% since Donald Trump was elected the new U.S. president, earlier in the month.

BlackRock’s IBIT saw inflows of $126.5 million, continuing the trend of strong inflows since Nov. 7. However, Fidelity’s FBTC saw outflows of $179.2 million, Bitwise BITB saw $113.9 million being drained, Ark’s ARKB bled $161. 7 million, while both Grayscale products saw combined outflows of $74.9 million.

Since the launch of the ETFs, Thursday was the third worst day for the bitcoin-linked products. Interestingly, the other two times the ETFs saw outflows of over $400 million was on Nov. 4 ($541.1 million), just prior to the U.S. election, and May 1 ($563.7 million). On Nov. 4, bitcoin bottomed around $67,000 before going on a tear all the way to over $93,000. While the May low coincide with a bottom at just under $60,000.

We will have to wait and see if the ETF flows signal another bottom and history repeats itself.

On the other hand, ether (ETH) ETFs saw their first outflow in nearly two weeks, with investors taking out $3.2 million.

The post Bitcoin ETFs Witness Third Highest Outflow Since Launch, the Other Two Times Foreshadowed Price Bottoms appeared first on Crypto Insider.