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BlackRock’s Bitcoin ETF sees 6th ever outflow on US election day

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BlackRock’s Bitcoin exchange-traded fund (ETF) experienced one of its largest outflows on record, marking the sixth time the fund has seen significant withdrawals. This latest outflow comes as market volatility, partly driven by the U.S. presidential election cycle, has prompted investors to pull back from digital assets. The fund, which tracks Bitcoin’s price movements, had been a popular investment vehicle for institutional and retail investors alike. However, amid heightened uncertainty in the broader financial markets, particularly in the lead-up to the election, Bitcoin-related investments have seen a decline in demand.

The outflow from BlackRock’s Bitcoin ETF is seen as a reflection of the broader market sentiment, as investors adopt a more cautious approach ahead of the election. Historically, election years have been marked by increased volatility in financial markets, as political uncertainty often leads to fluctuations in investor confidence. Bitcoin, as a highly speculative asset, has been particularly sensitive to shifts in market sentiment, and the current political climate in the U.S. has added another layer of uncertainty to an already turbulent year for cryptocurrencies.

Despite the outflows, the BlackRock Bitcoin ETF continues to be one of the largest and most prominent funds in the cryptocurrency space. BlackRock, the world’s largest asset manager, has been at the forefront of efforts to integrate Bitcoin and other digital assets into traditional investment portfolios. While the recent outflows may reflect short-term investor caution, many experts remain bullish on the long-term prospects of Bitcoin, particularly as the asset becomes more widely adopted by institutional investors.

The timing of these outflows underscores the challenges facing digital asset managers in navigating broader market conditions. With Bitcoin and other cryptocurrencies still in a phase of price discovery, external factors such as regulatory developments, macroeconomic trends, and political events like elections will continue to play a significant role in shaping market dynamics. The outcome of the U.S. elections, combined with the continued evolution of the crypto landscape, will likely influence investor sentiment toward Bitcoin ETFs in the months ahead.

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Bitcoin price risks drop to $71K as Trump tariffs hurt US business outlook

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Bitcoin is setting its sights on the $71,000 mark as market conditions shift in response to geopolitical and economic developments, including a new tariff agreement and weakening U.S. business sentiment.

Recent market activity suggests that Bitcoin is benefiting from concerns over traditional economic indicators, with investors turning to digital assets as a hedge against economic uncertainty. A rare slump in U.S. business outlook has fueled speculation that risk assets, including Bitcoin, could see increased inflows.

Additionally, ongoing global trade negotiations and tariff adjustments have contributed to market volatility, prompting investors to seek alternative stores of value. Analysts suggest that if macroeconomic pressures persist, Bitcoin could continue its upward trajectory, potentially testing the $71,000 resistance level.

Despite short-term fluctuations, Bitcoin remains a focal point for investors navigating inflation concerns, regulatory shifts, and global economic trends. The coming weeks will be critical in determining whether Bitcoin can sustain its momentum and break through key price barriers.

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Crypto donations top $1B in 2024, gain traction after Myanmar, Thailand quake

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Changpeng “CZ” Zhao, the former CEO of Binance, has donated 1,000 BNB to aid relief efforts following a powerful earthquake that struck the Thailand-Myanmar border region. The donation, valued at approximately $600,000, aims to support those affected by the disaster and assist in recovery operations.

The earthquake caused significant damage in several areas, displacing residents and impacting local infrastructure. CZ’s contribution highlights the growing role of cryptocurrency in humanitarian aid, providing fast and transparent relief funding.

The donation will be distributed to organizations working on the ground to deliver emergency assistance, including shelter, food, and medical supplies. Crypto-based aid is increasingly being utilized in disaster response efforts due to its efficiency in reaching affected communities without the delays of traditional banking systems.

As the affected regions begin the recovery process, the crypto community continues to demonstrate how blockchain technology can play a meaningful role in global humanitarian initiatives.

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Hackers are selling counterfeit phones with crypto-stealing malware

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Security researchers have uncovered a wave of counterfeit Android devices preloaded with malware designed to steal cryptocurrency, posing a significant threat to users worldwide. The infected devices, which mimic popular smartphone brands, contain malicious software capable of hijacking digital wallets and siphoning funds.

The malware, embedded at the firmware level, allows attackers to gain remote access, intercept sensitive data, and execute unauthorized transactions. Because the malicious code is deeply integrated into the device’s operating system, it is difficult to detect and remove, making it a persistent threat.

Cybersecurity experts warn that unsuspecting buyers may unknowingly expose their crypto holdings to risk by purchasing these compromised devices from unverified sellers. Users are urged to exercise caution by only purchasing smartphones from trusted retailers and manufacturers.

The discovery highlights the growing sophistication of cybercriminals targeting the cryptocurrency sector. As mobile-based crypto transactions become more common, security measures such as hardware wallet usage and multi-factor authentication are increasingly essential to safeguard digital assets from emerging threats.

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