Live updates: Bitcoin slips from day's highs, set to close week with a loss
Reported by CoinDesk · AI-assisted summary by ChikoCorp AI News Desk
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Summary
Bitcoin steadied near $83,000 after recovering from a $1 billion liquidation triggered by a selloff on Thursday. Bitcoin ETFs saw a net outflow of $244 million that day, with only XRP-related ETFs attracting inflows. Ledger is investigating a potential $86 million theft linked to devices sold through a Southeast Asian reseller, prompting a precautionary pause on sales from that reseller. Other developments include Michael Saylor’s Strategy preferred stock reaching a multi-month high, Judy Shelton joining the Treasury as currency policy adviser, and Robinhood exploring a tokenized actively managed ETF with T. Rowe Price.
Why it matters
The Bitcoin price rebound and ETF flows reflect ongoing market volatility and investor sentiment dynamics. The Ledger investigation highlights security risks associated with third-party resellers in crypto hardware wallets, emphasizing vulnerabilities in the crypto custody ecosystem. Judy Shelton's Treasury advisory role may influence US currency policy, particularly regarding China. Robinhood's tokenized ETF project signals growing institutional interest in blockchain-based asset management.
Key context
Thursday's crypto market saw heavy liquidations totaling $1.19 billion and broad ETF outflows across Bitcoin, Ether, Solana, and ZEC funds, while XRP funds bucked the trend with net inflows. Ledger, a major hardware wallet maker, suspects a supply-chain attack but has not confirmed the cause or extent of the theft. Michael Saylor’s Strategy stock (STRC) is supported by dividend preservation efforts funded through stock sales and repurchases. Robinhood’s collaboration with T. Rowe Price remains preliminary and subject to regulatory approval.
Key numbers and entities
Bitcoin price near $83,000; $244 million outflow from Bitcoin ETFs on Thursday; XRP ETFs gained about $8 million; Ledger investigating a potential $86 million theft; Michael Saylor’s Strategy STRC stock near $99.71; MARA Holdings moved 996 BTC (~$81.13 million); Judy Shelton appointed as Treasury adviser; Robinhood (HOOD $109.24) and T. Rowe Price ($1.9 trillion assets under management); SpaceX shares up 4%.
What remains unclear
The exact number of Ledger customers affected, whether the thefts are connected, and the precise cause of the suspected hardware wallet breach remain unknown. Details on final regulatory clearance and approval for Robinhood’s tokenized ETF proposal have not been established. It is not confirmed whether MARA Holdings sold or just transferred Bitcoin. The broader market impact of Shelton’s currency policy advisory role is still uncertain.