Celsius

Bitcoin ETF

Bitcoin

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 Neither the author, Tim Fries, nor this website, The Tokenist, provide financial advice. Please consult our&nbsp;<a href="https://tokenist.com/terms-of-service/" style="text-decoration:underline;color:#3c7b7b" target="_blank" rel="noopener noreferrer nofollow" class="deco-link">website policy</a>&nbsp;prior to making financial decisions.
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<p class="has-drop-cap">Bitcoin (<a href="https://tokenist.com/investing/how-to-invest-in-bitcoin/" rel="noopener noreferrer nofollow" class="deco-link">BTC</a>) has seen significant market activity recently, with its price fluctuating around the $95,000 mark at the time of writing. As the digital asset’s market trends unfold, miners are approaching a $40 billion market cap, indicating robust industry growth.</p>
<p>Meanwhile, the emergence of an <a href="https://www.bloomberg.com/news/articles/2024-11-26/-ultrashort-bitcoin-etf-draws-record-inflows-as-rally-stalls" target="_blank" aria-label="UltraShort Bitcoin ETF (opens in a new tab)" rel="noopener noreferrer nofollow" class="deco-link">UltraShort Bitcoin ETF</a>, offering double inverse returns, has captured investor interest, leading to record trading volumes.</p>
<p>The ongoing rise in Bitcoin’s mining difficulty, now set for its fifth consecutive increase, highlights the network’s expanding complexity and security.</p>
<p>Additionally, the crypto world is abuzz with incidents like the <a href="https://cointelegraph.com/news/crypto-exchange-xt-com-withdrawal-halt-1-7-million-hack" target="_blank" aria-label="hacking of XT.com (opens in a new tab)" rel="noopener noreferrer nofollow" class="deco-link">hacking of XT.com</a>, where $1.7 million was reportedly compromised, and developments such as Celsius preparing a second creditor payout amid legal proceedings involving its former CEO.</p>
<h3 id="bitcoin-holds-the-95-000-level">Bitcoin Holds the $95,000 Level</h3>
<p>Bitcoin’s current price stands at $95,204.45, reflecting a slight dip of 0.78% over the past day, with fluctuations between $94,653.60 and $96,650.20. Despite this minor setback, Bitcoin maintains a formidable market cap exceeding $1.88 trillion.</p>
<p>The cryptocurrency’s average trading volumes are soaring, with a daily volume reaching over $70 billion. Analysts are closely watching these movements, as Bitcoin <a href="https://tokenist.com/bitcoin-starts-the-week-with-new-ath-3-factors-why-the-rally-can-continue/" rel="noopener noreferrer nofollow" class="deco-link">continues to trade near its year high</a> of $99,655.50, a stark contrast to its year low of $37,531.14. These figures suggest a strong upward trajectory and growing investor confidence in Bitcoin’s long-term potential.</p>
<p>On the other hand, the UltraShort Bitcoin ETF has emerged as a standout performer, reporting unprecedented trading volumes as Bitcoin maintains its position above $90,000.</p>
<p>This ETF allows investors to <a href="https://tokenist.com/investing/short-selling/" rel="noopener noreferrer nofollow" class="deco-link">profit from Bitcoin’s price declines</a> by offering inverse returns, effectively doubling the potential gains from downward movements.</p>
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<h3 id="meanwhile-in-the-cryptoverse">Meanwhile, in the Cryptoverse…</h3>
<p>The recent hacking of XT.com has sent shockwaves through the industry. The platform reported an “abnormal transfer of platform wallet assets,” resulting in a $1.7 million loss.</p>
<p>Meanwhile, <a href="https://cryptoslate.com/celsius-initiates-second-payout-of-127-million-enhancing-creditor-returns-to-60-4" target="_blank" aria-label="Celsius is poised to make a second payout to its creditors (opens in a new tab)" rel="noopener noreferrer nofollow" class="deco-link">Celsius is poised to make a second payout to its creditors</a>, promising restitution amid ongoing legal challenges faced by its former CEO, Alex Mashinsky. This could set a precedent for creditor settlements in the crypto sector.</p>
<p>Additionally, the crypto exchange HyperLiquid’s decision to <a href="https://www.coindesk.com/business/2024/11/28/crypto-exchange-hyper-liquid-to-airdrop-310-m-tokens-to-early-adopters" target="_blank" aria-label="distribute 310 million tokens (opens in a new tab)" rel="noopener noreferrer nofollow" class="deco-link">distribute 310 million tokens</a> to early adopters reflects the industry’s focus on rewarding community engagement and fostering loyalty.</p> <iframe src="https://tokenist.substack.com/embed" width="100%" height="320" style="border:1px solid #EEE; background:white;" frameborder="0" scrolling="no"></iframe>
<p><em>Disclaimer: The author does not hold or have a position in any securities discussed in the article.</em></p>
<h3 id="br"><br></h3>
<p>The post <a rel="noopener noreferrer nofollow" href="https://tokenist.com/btc-report-ultrashort-bitcoin-etf-hits-record-volumes-btc-holds-95k/">BTC Report: UltraShort Bitcoin ETF Hits Record Volumes; BTC Holds $95k</a> appeared first on <a rel="noopener noreferrer nofollow" href="https://tokenist.com">Tokenist</a>.</p>

BTC Report: UltraShort Bitcoin ETF Hits Record Volumes; BTC Holds $95k

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