Bitcoin's price action this week was mostly flat: The biggest virtual coin hasn't moved over the last day, and is currently priced at $97,575, CoinGecko shows. It's up just 1.5% on the week.
The oldest cryptocurrency hasn't touched the magical $100,000 mark since the beginning of February as traders try to navigate an increasingly complex new investing landscape—with an unpredictable new U.S. President in the White House.
President Donald Trump has threatened, gone ahead with, and paused tariffs against major economies in recent weeks—all of which has impacted crypto prices to varying degrees.
And this week, data showing that consumer prices rose more than expected last month in the U.S. only further hurt risk assets like crypto.
Still, the biggest cryptocurrency is still up significantly since the new commander in chief got elected, rising over 40% since the November 5 election, when it was trading for $69,335.
ETF flows
Investors pulled money out of Bitcoin exchange-traded funds every day this week, according to Farside Investors, with $650.8 million cashed out from Monday to Thursday. Flows flipped positive on Friday with $70.6 million in investment, but not nearly enough to counteract the earlier losses.
Investors last week saw a buying opportunity for Ethereum, and threw more cash at funds built around the second-largest cryptocurrency than those for Bitcoin. What’s more, it’s the first time this year that weekly deposits into Ethereum-based funds have outpaced those into BTC products.
Data from European asset manager CoinShares shows that speculators pumped $793 million into Ethereum-related investment products worldwide, last week.
CoinShares said that “Ethereum stole the show,” when investo...
The bearishness comes after the funds experienced massive demand in January, but flows have slowed down since President Trump started talking tariffs. And there was a surprise twist the previous week when Ethereum ETF flows actually beat those for Bitcoin funds.
Strategy back to buying
Strategy (formerly MicroStrategy) hit the buy button again after not buying cryptocurrency for one week at the end of January. The software company, which has pivoted hard to stockpiling Bitcoin, shared in its latest disclosure that it spent $742.4 million on BTC between February 3 and February 9.
As of February 9th, 2025, @Strategy holds 478,740 $BTC equivalent to ~2.3% of all bitcoin that will ever be in circulation and ~76% of all bitcoin held by public companies.
The company rebranded last week in a "a natural evolution" to become more Bitcoin-focused, and now holds a total of 478,740 BTC, worth nearly $47 billion.
GameStop eyeing Bitcoin?
And video game retailer GameStop's shares pumped Thursday on news that the meme stock company was thinking about investing in Bitcoin.
A CNBC report, citing unnamed sources close to the company, said that the company was "exploring investments in alternative asset classes"—including the orange coin. GameStop did not respond to Decrypt's request for comment.
The ultimate meme stock is getting a fresh jolt of demand following word of the company's potential interest in Bitcoin.
GameStop's stock price spiked after hours Thursday, rising from about $26 to a peak of nearly $31, following a CNBC report claiming that the video game retailer is considering investing in Bitcoin and other cryptocurrencies. The story cites unnamed sources close to the company.
GME finished the trading day at about $26.30, and is currently trading after hours for about $28.50....
The video game shop jumped back in the spotlight last year after Keith "Roaring Kitty" Gill, the trader who started the original 2021 stock buying frenzy, posted a meme online for the first time in three years. He helped pump the price of the stock across multiple 2024 appearances, including his first livestream since the original run.
GameStop (NYSE: GME) finished the week priced at $27.00 a share after rising 5.5% this week.
Man admits to SEC X hack
Remember when Bitcoin shot up in price after the Securities and Exchange Commission's X account tweeted that the long-awaited Bitcoin ETFs had been approved, only to drop again on news of a hack?
Well, the man guilty of the act that caused all the commotion has admitted to the crime.
The @SECGov twitter account was compromised, and an unauthorized tweet was posted. The SEC has not approved the listing and trading of spot bitcoin exchange-traded products.
— SEC Chair Gary Gensler Archive (@GenslerArchive) January 9, 2024
Eric Council, 25, who was arrested in October, pleaded guilty in a Washington federal court on Monday to aggravated identity theft and access device fraud, Bloombergreported.
An Alabama man pleaded guilty on Monday to helping hack the SEC's X (formerly Twitter) account in January 2024 in an attempt to mislead the market about spot Bitcoin ETF approvals.
Eric Council, a 25-year-old resident of Athens, Alabama, admitted that he was guilty of a conspiracy to commit aggravated identity theft and access device fraud in the U.S. District Court for the District of Columbia, per Bloomberg.
Council’s attorney, Dwight Crawley, was unavailable for confirmation or comment. A pho...
Council, of Athens, Alabama, could now face up to 15 years in prison for identity theft and an additional three years for impersonating a federal agency.
Ethereum just lost one of its long-time institutional backers.
In a Thursday statement, algorithmic trading firm Two Prime announced it is dropping all exposure to Ethereum (ETH) and will exclusively manage and lend against Bitcoin (BTC) going forward, citing Ethereum’s unpredictable behavior, declining market momentum, and eroding institutional appeal.
Why Two Prime is Going BTC Only https://t.co/VtrQAUyGL0 pic.twitter.com/4BWVd8R7HM
— Two Prime (@Two_Prime) May 1, 2025
Two Prime didn’t say h...
Crypto asset manager 21Shares applied for an exchange-traded fund tracking the price of Sui, according to a filing with the U.S. Securities and Exchange Commission on Wednesday.
The 21Shares Sui ETF aims to broaden investors’ access to the native token of the layer-1 network designed for high-speed transactions, which has been dubbed by some as a “Solana Killer.”
The filing named Coinbase as a custodian to safeguard investors’ funds, according to the registration statement, but did not specify...
New CertiK estimates suggest about $364 million was lost through crypto hacks, scams and exploits in April alone.
The cybersecurity firm says the vast majority of this total, $337 million, is related to phishing attacks.
#CertiKStatsAlert 🚨
Combining all the incidents in April we’ve confirmed ~$364M lost to exploits, hacks and scams after ~$18.2m was returned.
KiloEx, Loopscale and zkSync all had funds returned by whitehat exploiters.
~$337M of the total is attributed to phishing.
More… pic.tw...
