It was a rough week for The Bitcoin’s mid-week plunge was exacerbated by spot Bitcoin exchange-traded funds (ETFs) Even BlackRock’s hugely successful iShares Bitcoin Trust experienced outflows for the first time since its January launch, putting downward pressure on Bitcoin’s price.The sell-off came as investors were spooked by news that the Federal Reserve was not in any rush to slash interest rates. It wasn’t all bad news, though: on Friday, the U.S. government’s Nonfarm Payrolls report When unemployment is high, the Federal Reserve is more likely to cut interest rates. Low unemployment typically means people spend more, leading to increased prices—or inflation. Lower inflation could lead to a cut in interest rates, whetting investor appetite for risk assets like crypto.The jobs figures may have been what lifted BTC back out of its trough. Investors who were betting against the top cryptocurrency saw their short positions liquidated to the tune of $100 million yesterday.Elsewhere, meme coins Other alts, like Ordinals-based Perhaps more newsworthy—certainly more shocking—was when a young boy and his mother Even after the duo ghosted, the coin’s market cap surged past $500,000. Never a dull moment in the crypto world. Edited by Ryan Ozawa.
