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Bitcoin investment products experience net inflows for 9th consecutive week, the largest since the “bull market” in November 2021

Bitcoin investment products experience net inflows for 9th consecutive week, the largest since the “bull market” in November 2021


Macroeconomics and financial markets
On the US New York stock market on the 24th last weekend, the Dow Jones Industrial Average closed 83.5 points (0.24%) higher than the previous day, and the Nasdaq Index closed 40.7 points (0.29%) higher.
Christopher Waller, the US Federal Reserve Board member known to be a hawk, was well-received as he hinted at a shift in monetary policy, including by mentioning the possibility of lowering interest rates if the inflation rate continues to decline.
Among crypto-asset (virtual currency)-related stocks, Coinbase stock continued to rise and hit a new year-to-date high.
Binance, the largest cryptocurrency exchange that had been losing market share to its competitors, suffered a major setback with the resignation of Changpeng Zhao (CZ), and the main custodian (management/custody) of Bitcoin spot ETF (exchange traded fund) This appears to have been recognized for its high level of security and its superiority in the industry, which has helped it establish itself as a financial institution that conducts business.

$COIN was an obvious buy due to being the main custodian for the #Bitcoin ETFs so far.
Became an even clearer trade, when the US government put an end to @cz_binance . https://t.co/7YpOV5tLGr pic.twitter.com/p2KQvjId6b
— James V. Straten (@jimmyvs24) November 27, 2023
BlackRock, the largest U.S. asset management company that is currently applying for a Bitcoin spot ETF, entered into a partnership with Coinbase Global in August last year. The company has announced that it will provide institutional investors with Bitcoin transactions, storage, and a wide range of market data through its asset management system “BlackRock Aladdin.”
connection: Dollar/yen temporarily 147.3 yen, Coinbase stock rises significantly, US FOMC board member turning dovish | 29th Financial Tankan
connection: Stock investment recommended for virtual currency investors, “10 representative virtual currency stocks in Japan and the United States”
Virtual currency market conditions
In the crypto asset (virtual currency) market, the Bitcoin price rebounded to 1 BTC = $37,993, an increase of 2.3% from the previous day.

BTC/USD daily

Among major alts, Solana (SOL), ranked 6th in market capitalization, which had been declining due to overheating, rebounded by 6.7% compared to the previous day, and Dogecoin (DOGE), ranked 10th, rose 3.2% compared to the previous day. Avalanche (AVAX) rose 3.1%.
According to data from CoinGlass on the 27th, open interest in Bitcoin futures on the Chicago Mercantile Exchange (CME) soared to a record high of 118,540 BTC ($4.22 billion).

CME #Bitcoin open interest reached 118.54K #BTC ($4.42B), a new all-time high. (coin)

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