Bitcoin and Ethereum ETF Outflows End! Here's the Latest Data

The post BDACS rolls out KRW1 stablecoin backed by Woori Bank PoC appeared on BitcoinEthereumNews.com. In this post: BDACS has launched KRW1 stablecoin, which is backed by the South Korean won, after completing a full proof of concept with Woori Bank. The firm has also developed issuance and management systems and a user-facing app that supports P2P transfers and transaction verification. BDACS believes banking API integration will ensure transparent, verifiable proof of reserves and reinforce trust and accountability within its network. BDACS officially launched a South Korean won-backed stablecoin, KRW1, on Wednesday. The initiative comes after the company completed a full proof of concept (PoC) with Woori Bank. The company acknowledged that the milestone marks the interaction of fiat deposits, stablecoin issuance, and blockchain verification into a fully operational ecosystem. The firm also revealed that KRW1 is a proprietary stablecoin brand it trademarked in December 2023.  BDACS develops issuance and management systems BDACS said it anticipated the central role of stablecoins in the digital asset economy and started building the necessary infrastructure well before formal regulations were in place. The Korean firm stated that its Go-to-Market strategy has positioned it as a first mover in the region’s evolving digital asset market. According to the report, the initiative extends beyond token issuance. The digital asset custody service firm has developed a comprehensive framework, including issuance and management systems. BDACS has also developed an app that supports peer-to-peer transfers and transaction verification.  Each KRW1 token will be fully collateralized with South Korean won held in escrow at Woori Bank, the company’s strategic partner. BDACS believes that real-time banking API integration will ensure transparent, verifiable proof of reserves and reinforce trust and accountability within its network. The report revealed that Woori Bank also participated in the POC. BDACS acknowledged that it aims to position KRW1 as a universal-user stablecoin for remittances, payments, investments, and deposits. The Korean firm…

The post Bitcoin Price Prediction: How Low Can BTC Price Fall in the Next Bear Market? appeared on BitcoinEthereumNews.com. Key Insights: A top expert sparks discussions with his Bitcoin price prediction, hinting at a drop to as low as $37k in the next bear market. Into the Cryptoverse founder Benjamin Cowen says he expects Bitcoin to face a major correction of 70% in the next bear market. Bitcoin dominance has dropped from 65% to 57.16%, as the altcoin season index jumped to 80%. Bitcoin dominance has dropped from 65% to 57.16%, marking its lowest point since February. This shows that capital and liquidity are moving into alternative cryptocurrencies. At the same time, the altcoin season index has climbed above 80. This suggests that many investors are now shifting away from Bitcoin, with altcoin prices likely to rise as capital rotation takes effect. However, opinions remain divided on Bitcoin price prediction, with many arguing where the flagship crypto will head when the next bear market arrives. One analyst has even predicted that BTC price could correct by as much as 70%. Bitcoin Price Prediction: Analyst Predicts 70% Correction In an interview published on Thursday, the founder of the Quantitative Market Analytics platform Into the Cryptoverse, Benjamin Cowen, said he expects Bitcoin to face a major correction. His Bitcoin price prediction suggested there could be a drawdown of about 70% from whatever the next cycle top or all-time high turns out to be. His view, he explained, comes from past market cycles. Previous bear markets saw Bitcoin price drop by 94%, 87%, and around 77%. According to Cowen, a sharp Bitcoin correction is not guaranteed. He explained that it does not necessarily have to happen, but history shows that investors should be prepared for the possibility of it repeating. In case of a 70% correction from the current all-time high of $124,457, BTC price bottom would be around $37,337. However, if…

PANews reported on November 7th that, according to The Data Nerd, trader 0xb63 opened a 15x short position of 250 BTC on October 29th at an average price of approximately $113,676. He has partially closed the position, realizing a profit of approximately $515,000, and still holds the short position with an unrealized profit of approximately $2.57 million. Today, he also opened a long position in ZEC at an average price of approximately $595.