Bitcoin breaks through 116K, triggering Whale buybacks; DOGE meme ETF is about to launch, with a weekly pump of 21%.

Crypto Assets have surged overall, with market capitalization returning to 4.02 trillion USD. Bitcoin (BTC) briefly broke 116K this morning, triggering Whales to cover short positions, Ether (ETH) returned above 4,500 USD, Solana rose to 232 USD, and DOGE (DOGE) benefited from the upcoming listing of an ETF, with a weekly increase of 21%.

Bitcoin returns to 116K, Whale short covering positions

BTC has returned above 116K USD this morning! According to Lookonchain, in order to avoid liquidation, Whale 0xa523 sold another 152 ETH for approximately 679,000 USD to replenish margin and covered part of the BTC short positions. In just one month, he has lost over 43.4 million USD, becoming the biggest loser on Hyperliquid!

The first meme ETF in the United States is about to be listed, with DOGE increasing by 21% this week.

REX-Osprey DOGE ETF (DOJE) is the first exchange-traded fund in the United States specifically targeting Dogecoin (DOGE, which is DOGE ). It is jointly launched by REX Shares and Osprey Funds.

The ETF is registered under the Investment Company Act of 1940, rather than the more common Securities Act of 1933. This structure means it will not directly hold spot Crypto Assets, but will instead track the performance of Dogecoin indirectly through other means.

Bloomberg analyst Eric Balchunas believes this is "the first ETF in the United States to intentionally hold an asset with no actual use," as DOGE was originally a joke coin.

DOJE was originally scheduled to officially launch in the U.S. market on 9/11, but it has been delayed multiple times due to regulatory or operational issues, and it may not launch until next week. This is a rare example of an adjustment made at the last moment before an ETF launch.

However, the news of this ETF listing has also invigorated the recent trend of DOGE, which has risen 21% in a week, significantly outperforming other major Crypto Assets.

This article Bitcoin breaks through 116K triggering Whale short covering, DOGE meme ETF is about to be listed, DOGE has increased by 21% in a week, first appearing in Chain News ABMedia.