CDS Crypto News 28 March Crypto News- What Happened Crypto Markets Today
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28 March Crypto News- What Happened Crypto Markets Today

Curious about today's crypto developments? Stay informed with the latest news covering daily trends and events shaping Bitcoin price, blockchain technology, DeFi, NFTs, Web3, and cryptocurrency regulation.

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28 March Crypto News- What Happened Crypto Markets Today

Crypto News– The largest Bitcoin options expiry in history has had a subdued impact on the price thus far.

28 March Crypto News- What Happened Crypto Markets Today

Spot Bitcoin exchange-traded funds (ETFs) now represent 2.5% of the circulating supply after less than three months of trading, and former FTX CEO Sam (SBF) Bankman-Fried has been sentenced to 25 years in prison.

After the largest quarterly options expiry in history, Bitcoin maintains its position above 69,000 Dollars in trading

On March 29th, the price of Bitcoin remained above the $69,000 threshold, reaching $69,324, despite the market witnessing the largest quarterly Bitcoin futures options expiry event in history.

According to a March 28th post by Deribit, over $15.1 billion worth of cryptocurrency futures options expired on Deribit at 8:00 am UTC on March 29th.

Out of the total, $9.53 billion represented the notional value of expiring Bitcoin options, with a put/call ratio of 0.84 and a potential max pain price of $51,000.

28 March Crypto News- What Happened Crypto Markets Today
28 March Crypto News- What Happened Crypto Markets Today 1

Andrey Stoychev, project manager at Nexo’s prime brokerage division, stated that despite the expiry, the price impact was minimal.

500,000 BTC Accumulated by New Bitcoin ETFs as GBTC Outflows Decelerate

New spot Bitcoin ETFs have accumulated over 500,000 Bitcoin since their launch in January, representing approximately 2.54% of the current circulating supply.

These nine ETFs, introduced on January 11, achieved this milestone after experiencing another day of inflows on Thursday. According to Farside Investors, these ETFs garnered a net Bitcoin inflow of $287.7 million.

This accumulation amounts to a total of $35 billion worth of Bitcoin held by these nine ETFs over a span of just 54 trading days.

28 March Crypto News- What Happened Crypto Markets Today
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In addition, all United States-based spot Bitcoin ETFs, including Grayscale, collectively hold 835,000 BTC, which accounts for almost 4% of the entire Bitcoin supply.

Furthermore, this week’s ETF inflows have returned to positive territory, with $845 million in inflows recorded thus far, reversing the trend of outflows that commenced on March 18th.

Former FTX CEO, SBF, Sentenced to 25 Years in Prison

Judge Lewis Kaplan has sentenced SBF to 240 months and an additional 60 months for seven felony charges. This includes a conviction for tampering, which led to Kaplan revoking his bail in August 2023.

Punishment should align with the severity of the offense, And this was a grave crime… When not lying, [Bankman-Fried] was evasive, nitpicking, attempting to manipulate the questions posed by the prosecutors. I’ve been in this profession for nearly 30 years, and I’ve never seen a performance like that.

Judge Lewis Kaplan

I refute the defense’s stance on losses, both legally and factually, Kaplan continued. The claim that customers and creditors will be fully reimbursed is deceptive — the defendants equate loss with the dollar volume in the bankruptcy case.

The sentencing of Bankman-Fried comes after former FTX and Alameda executives Gary Wang, Caroline Ellison, Nishad Singh, and Ryan Salame admitted guilt and reached plea agreements with the prosecution.

28 March Crypto News- What Happened Crypto Markets Today

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