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GameStop’s Bitcoin Shift Fuels Fears of BTC Sell-off

GameStop has transferred its entire Bitcoin treasury, totaling 4,710 BTC (approximately $420 million), to Coinbase Prime, sparking speculation of an imminent sale. The move, detected on January 23, suggests the company may be preparing to liquidate its holdings amid current market volatility. If sold at current prices near $90,800, GameStop would realize an estimated loss of $76 million, as the coins were acquired at an average cost of around $107,900 each. This development follows recent meetings between CEO Ryan Cohen and MicroStrategy’s Michael Saylor regarding corporate Bitcoin strategy. Concurrently, Cohen purchased an additional $10 million in GME shares, causing a 3% stock rise. The actions indicate a potential strategic shift away from crypto exposure despite growing corporate interest in Bitcoin as a reserve asset in 2024-2025.

TheNewsCrypto3m ago

Bitcoin shorts drop 82%, hedge funds cut exposure – Rally or more caution?

Leveraged hedge funds have reduced their Bitcoin futures short positions on the CME by 82%, from $444 million in August to $78 million by mid-January. While this decline may appear bullish, analysts caution that these funds engage in basis trades—buying spot ETFs while shorting futures—and the recent drop in yield from 10% to 5% has made these positions less attractive. Consequently, reduced short exposure may not necessarily signal a bullish trend unless accompanied by renewed spot ETF inflows. Recent ETF outflows totaled $1.33 billion, reflecting weakened institutional demand. However, easing geopolitical risks and potential liquidity injections could support a short-term BTC recovery. At the time of writing, Bitcoin traded at $89.7k.

ambcrypto31m ago

European Banks Launch Qivalis to Issue Euro-Pegged Stablecoin

TheNewsCrypto43m ago

Grayscale Registers for U.S. Spot BNB ETF Following VanEck Proposal

Grayscale has filed with the U.S. SEC to launch a spot BNB ETF, named the Grayscale BNB Trust (ticker: GBNB), aiming to list on Nasdaq. The filing, submitted on January 23, would allow investors to gain exposure to BNB without holding the token directly. Coinbase is designated as the prime broker and custodian. This marks the second BNB ETF proposal, following an earlier application by VanEck in April 2025. Both are still under SEC review and require further regulatory approval. Following the news, BNB’s price saw minor fluctuations, trading around $890. Grayscale also recently filed for a NEAR Trust ETF, signaling its expanded focus on altcoin ETFs.

TheNewsCrypto44m ago

XRP Trend Still Coherent On Binance As CVD Correlation Remains Supportive

XRP is attempting to stabilize above $1.90 after falling below $2.00, creating market uncertainty. Analysts are divided on whether this is a bearish continuation or a temporary pullback before a rebound. A key insight from Binance data shows a 30-day correlation of 0.61 between XRP’s price and Cumulative Volume Delta (CVD), indicating a moderate to strong positive relationship. This suggests recent price movements are supported by actual trading activity rather than noise, lending structural coherence to the trend. Although the positive correlation remains, the latest CVD reading is still negative, reflecting ongoing selling pressure rather than net buying dominance. This metric acts as a confirmation tool—assessing trend quality and internal market alignment—rather than a direct trading signal. The current correlation strength implies XRP may be in a base-building phase, with gradual absorption of selling pressure rather than aggressive distribution. If correlation weakens during price recoveries, it could signal underlying weakness and potential reversals. For now, the market shows balanced, coherent behavior amid volatility.

bitcoinist1h ago