Bitcoin lags behind a broader stock market rebound as traders weigh October inflation data and significant outflows from spot bitcoin ETFs.
The New York Stock Exchange picked Avalanche as the core ledger for clearing and settlement on its planned 24/7 tokenized securities platform, announced Nov. 9. The token rose 5% over 24 hours with futures open interest up 13%, showing genuine capital inflows. However, it slipped 2.6% since midnight UTC and market-order flow skewed to selling, so the initial pop is partially fading.
Bitcoin slipped to around $74,200 ahead of the U.S. CPI at 13:30 UTC today, while U.S. spot bitcoin ETFs lost $201 million on Monday, led by $213.2 million out of BlackRock's IBIT — now seven straight sessions of redemptions. Traders are also pricing in a December Fed rate hike per the newsletters, a headwind for crypto. The expected softer inflation print (0.3% headline vs 0.6% in September) is the main offsetting factor.
Ether fell 1.4% to around $2,100 (about $2,092) and U.S. spot ether ETFs lost $184.6 million on Monday per Farside Investors, showing continued institutional selling. The same CPI and Fed rate-hike uncertainty weighing on bitcoin applies. One risk: ether options volume leans toward calls, led by the 2,600 call expiring Dec. 25.
A newsletter headline reports the bitcoin miner sold 13,597 BTC for $1.1 billion in six weeks and plans to sell more. Continued large treasury sales by a miner add supply pressure and signal reliance on selling bitcoin holdings to fund operations, which is negative for the stock. The detail appears only in a headline, so the full context is limited.
Bitcoin traded around $74,200 as investors braced for the U.S. October consumer price index report due at 13:30 UTC. While U.S. stocks rebounded on Monday, crypto markets faced headwinds from $201 million in spot bitcoin ETF outflows and growing market expectations for a December Federal Reserve rate hike.
The New York Stock Exchange chose the Avalanche blockchain to settle trades on a planned 24/7 tokenized securities platform, announced Nov. 9.
Bitcoin lagged a Monday stock rebound because traders are waiting for October U.S. inflation data and spot bitcoin ETFs saw $201 million of outflows, led by BlackRock's IBIT.
The U.S. consumer price index for October, due at 13:30 UTC, where economists expect headline inflation of 0.3% and core of 0.2%, slower than September.
U.S. spot ether ETFs lost $184.6 million on Monday, according to Farside Investors.
MARA sold 13,597 BTC for $1.1 billion over six weeks and plans to sell more.