Bitcoin News Official Today TheBitTimes.com

Source: AdobeStock / Yevgen Kotyukh   Bitcoin (BTC) and crypto-backed investment funds saw outflows of USD 423m last week, marking the largest weekly outflows on record “by a wide margin,” data from the digital asset investment firm CoinShares shows. Per the latest update from CoinShares, the large outflows were solely focused on BTC funds, with USD 453m in capital leaving these funds. Funds backed by other digital assets such as ethereum (ETH) and cardano (ADA) saw inflows for the week. The inflows to ETH funds came after relatively large outflows of USD 70m seen the week before. The same week, BTC funds saw inflows of USD 28m. Source: CoinShares The vast majority of the outflows from bitcoin funds in the latest report occurred on June 17, but appeared in the data for last week due to “ reporting lags ,” CoinShares said. Commenting on the notable outflows, the report said that “almost all inflows year-to-date” in bitcoin f...

Source: Adobe/fesenko   Another survey shows a seemingly dominant sentiment that bitcoin (BTC) still has more room to fall and test new lows in the near term before skyrocketing again. In either case, the latest prediction marks the third time this year that a panel of analysts gathered by the comparison website  Finder.com has had to adjust its predictions down. Judging from an average of the responses, bitcoin could fall to USD 13,676 this year, before it ends the year higher at close to USD 25,500 – almost 30% higher than the coin’s current price at the time of writing (08:30 UTC) of USD 19,770. Finder.com’s panel was made up of various crypto industry players, including analysts, founders, CEOs, and academics. “It's reasonable to expect to see more big projects fail in the next couple of months. Retail sentiment is at historic lows due to global economic uncertainty and inflation. Highly leveraged miners, who just had to digest...

Bitcoin’s Sharpe ratio started recovering from its September lows of -4.38 a couple of weeks back. Even though it has been able to pull up its socks, it continues to hover in negative territory. This ratio&nbsp ;typically compares the return of an investment with its risk. So, it can be inferred that investors are currently in a much better position when compared to three weeks back. However, the reading of -0.52 is not very encouraging. Source: Messari Opining on the imbalance between the risk and the reward, prominent trader and Factor LLC executive Peter Brandt tweeted, “ BTC represents a highly asymmetrical reward-to-risk trade “ He further stated that he was sticking to his long-time prediction that the price of the largest crypto asset could potentially collapse to zero. He tweeted, Dating back to 2018 I have without apology stated that Bitcoin $BTC has a 50% chance to go to $100,000/$250,000/whatever and 50% chance to go to $Zero. This I st...