More recent source-attributed AI analysis in crypto.
BlackRock and other ETFs sold $430.2 million worth of Bitcoin and $100 million worth of Ethereum, according to the source, for $530.2 million in combined sales. The reported activity puts ETF flows back at the center of the crypto market, with Bitcoin as the flagged asset and Ethereum also affected. Traders will watch whether the selling continues; the source notes that sustained institutional outflows may hurt sentiment, while a quick reversal would challenge the risk-off view.
Bitcoin recovered 0.5% to $76,122 after sliding to a seven-week low of $75,131 as tech-stock losses and weakening risk appetite pressured cryptocurrencies.
A rebound in U.S. Nasdaq futures provided relief, while Ether gained 0.4% to $2,235; October nonfarm payrolls, expected to rise by 59,000, are the next major catalyst.
Stronger jobs and wage growth could strengthen the dollar and push Bitcoin toward $75,000 or $72,000, while weaker employment data could support a recovery toward $78,000-$80,000.
South Korean crypto exchange GOPAX has suspended trading, deposits and standard withdrawals after receiving an email threatening a hack, while planning to move all customer crypto assets into cold storage.
GOPAX said no hack or attempted theft had occurred, but the suspension followed regulatory warnings and a requirement for domestic exchanges to hold at least 80% of customer assets offline.
The security response could intensify concerns about centralized exchange risks and increase pressure on South Korean platforms to strengthen custody protections.
Bitcoin rebounded 0.5% to $76,122 after plunging to a seven-week low of $75,131, as recovering U.S. tech futures helped ease pressure on cryptocurrencies.
The earlier selloff was driven by concerns over AI investment, renewed Middle East tensions and weaker risk appetite, while Ether also recovered 0.4% to $2,235.
Bitcoin's next major catalyst is the U.S. jobs report, with stronger employment potentially pressuring BTC toward $75,000 and weaker data potentially supporting a recovery toward $78,000-$80,000.