• Login
NORVANREPORTS.COM |  Business News, Insurance, Taxation, Oil & Gas, Maritime News, Ghana, Africa, World
  • Home
  • News
    • General
    • Political
  • Economy
  • Business
    • Agribusiness
    • Aviation
    • Banking & Finance
    • Energy
    • Insurance
    • Manufacturing
    • Markets
    • Maritime
    • Real Estate
    • Tourism
    • Transport
  • Technology
    • Telecom
    • Cyber-security
    • Cryptocurrency
    • Tech-guide
    • Social Media
  • Features
    • Interviews
    • Opinions
  • Reports
    • Banking/Finance
    • Insurance
    • Budgets
    • GDP
    • Inflation
    • Central Bank
    • Sec/Gse
  • Lifestyle
    • Sports
    • Entertainment
    • Travel
    • Environment
    • Weather
  • NRTV
    • Audio
    • Video
No Result
View All Result
No Result
View All Result
NORVANREPORTS.COM |  Business News, Insurance, Taxation, Oil & Gas, Maritime News, Ghana, Africa, World
No Result
View All Result
Home Business

Bitcoin’s wild price swings point to the rising influence of ETF buyers

1 year ago
in Business, Cryptocurrency, Features, highlights, Home, home-news, latest News, Technology
1 min read
0 0
0
111
VIEWS
Share on FacebookShare on TwitterShare on Linkedin

Bitcoin’s wild price swings point to the rising influence of ETF buyers

Bitcoin appears to be conforming more to the conventional viewpoints of traditional investors who have recently entered the digital asset world through the introduction of US exchange-traded funds.

The largest cryptocurrency surged Friday after a report showing a smaller-than-forecast increase in US employment renewed expectations for interest rate cuts, raising the appeal of speculative assets. The rally helped to erase most of the losses registered earlier in the week posted on growing concern Federal Reserve officials were becoming more hawkish and demand for the ETFs is ebbing.

“What this week has taught us is that Bitcoin at all-time-high and the new development of Bitcoin ETFs basically open Wall Street’s participation into the Bitcoin market in a way we’ve never seen before,” said Stéphane Ouellette, chief executive officer of FRNT Financial. “Before, there weren’t any obvious correlations with other asset classes, and it was very obvious that this week, particularly on the Tuesday night sell-off ahead of the Fed that Bitcoin was trading in line with other risk assets.”

Bitcoin jumped around 7% to $62,937 on Friday, helping to pull prices higher among smaller cryptocurrencies such as Ether, Solana and even memecoins like Dogecoin. Bitcoin had dropped to $56,527 on May 1, the lowest level in about two months.

Investors had pulled a net $564 million from the batch of almost a dozen US ETFs on Wednesday, the biggest drawdown since the products debuted in January. The prospect of higher-for-longer interest rates had also weighed on other market such as equities.

The drop in Bitcoin from the record of almost $74,000 reached in March showed some worry by traders who “may see some risk in the global macro environment that the Fed or general investors are not seeing yet,” said Youwei Yang, chief economist and vice president of crypto miner BIT Mining Ltd.

RelatedPosts

UEFA Champions League: Five Exciting Fixtures to Keep an Eye on

BoG 2nd Deputy Governor Urges Firms to Move Beyond Tokenism in Promoting Women to Leadership Roles

Market Activity Slows as Prime Index Marginally Edges Higher to 7,340.08 Points

Tags: BitcoinBitcoin’s wild price swings point to the rising influence of ETF buyersETF buyers
No Result
View All Result

Highlights

US Open: Sinner Advances as Gauff and Swiatek Struggle

Unemployment Rate Falls to 13.1% but Youth Joblessness Remains Acute, Says GSS

Chamber of Mines Calls for Special Purpose Vehicle to Fund Western Corridor Railway Development

African Debt and Climate Change: How the ICJ’s Vanuatu Ruling Could be Used for Broader Justice

European Leagues Defend Plans to Stage Matches Abroad Amid EU Criticism

Bank of Ghana Sets Gold Coin Price at GHS 39,273 Per Ounce

Trending

Features

UEFA Champions League: Five Exciting Fixtures to Keep an Eye on

August 29, 2025

UEFA Champions League: Five Exciting Fixtures to Keep an Eye on The stage is set for the...

BoG 2nd Deputy Governor Urges Firms to Move Beyond Tokenism in Promoting Women to Leadership Roles

August 29, 2025

Market Activity Slows as Prime Index Marginally Edges Higher to 7,340.08 Points

August 29, 2025

US Open: Sinner Advances as Gauff and Swiatek Struggle

August 29, 2025

Unemployment Rate Falls to 13.1% but Youth Joblessness Remains Acute, Says GSS

August 29, 2025

Who we are?

NORVANREPORTS.COM |  Business News, Insurance, Taxation, Oil & Gas, Maritime News, Ghana, Africa, World

NorvanReports is a unique data, business, and financial portal aimed at providing accurate, impartial reporting of business news on Ghana, Africa, and around the world from a truly independent reporting and analysis point of view.

© 2020 Norvanreports – credible news platform.
L: Hse #4 3rd Okle Link, Baatsonaa – Accra-Ghana T:+233-(0)26 451 1013 E: news@norvanreports.com info@norvanreports.com
All rights reserved we display professionalism at all stages of publications

No Result
View All Result
  • Home
  • Business
    • Agribusiness
    • Aviation
    • Energy
    • Insurance
    • Manufacturing
    • Real Estate
    • Maritime
    • Tourism
    • Transport
    • Banking & Finance
    • Trade
    • Markets
  • Economy
  • Reports
  • Technology
    • Cryptocurrency
    • Cyber-security
    • Social Media
    • Tech-guide
    • Telecom
  • Features
    • Interviews
    • Opinions
  • Lifestyle
    • Entertainment
    • Sports
    • Travel
    • Environment
    • Weather
  • NRTV
    • Audio
    • Video

Welcome Back!

Login to your account below

Forgotten Password?

Create New Account!

Fill the forms bellow to register

All fields are required. Log In

Retrieve your password

Please enter your username or email address to reset your password.

Log In
NORVANREPORTS.COM | Business News, Insurance, Taxation, Oil & Gas, Maritime News, Ghana, Africa, World
This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy and Cookie Policy.
We use cookies to ensure that we give you the best experience on our website. If you continue to use this site we will assume that you are happy with it.