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💰 URPD metric indicates a lack of liquidity for Bitcoin below $60,000

Bitcoin experienced a 4% rally on April 18, bouncing back from just below $60,000 on April 17. CryptoSlate has identified $58.8k as a major support level — which is the short-term holder realized price (STH RP) that has previously acted as support during bull runs. If Bitcoin drops below the support level, it could signal a bearish trend, similar to the breach of STH RP in May 2021 that kicked off the bear market.

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💰 Bitcoin's Bullish Trajectory Should Resume After the Halving, Analysts Say

Global asset management firm Alliance Bernstein’s analysts Gautam Chhugani and Mahika Sapra shared their perspectives on the Bitcoin halving in a note to clients on Wednesday. Bernstein predicted in November last year that the price of bitcoin could reach $150,000 by 2025. Chhugani stated at the time that this prediction is driven by optimism of the U.S. Securities and Exchange Commission (SEC) approving spot bitcoin exchange-traded funds (ETFs).

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💰 Runes hype pushes transaction fees on Bitcoin higher

The bitcoin halving is almost upon us. While this is mostly exciting since it slows bitcoin's issuance, cutting the block reward down to 3.125 BTC, some people are excited about it because of Runes. Runes is a new protocol from Casey Rodarmor, the Bitcoin developer behind Ordinals. While the primary ideas behind Ordinals focused on bringing non-fungibility to Bitcoin, by differentiating specific satoshis by the order in which they were minted, the BRC-20 token standard also emerged, helping to bring new issuance of fungible tokens to the network.

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💰 Funding rate turns negative as Bitcoin drops below $64k

In the volatile world of cryptocurrency, perpetual futures are a go-to for many traders. These contracts don't expire, relying instead on a mechanism called the funding rate to balance market forces. Recently, Bitcoin's perpetual futures saw a dramatic shift. Typically steadied by consistent positive funding rates, a sudden plunge into negative territory coincided with geopolitical turmoil and a significant drop in Bitcoin's price.

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💰 Exchanges expected to run out of Bitcoin 9 months after halving – Bybit report

A recent analysis by crypto exchange Bybit has sounded the alarm on a potential shortage of Bitcoin (BTC) on exchanges by the end of 2024 if demand remains at similar levels. The report predicts that reserves could be entirely depleted within the next nine months if current withdrawal rates persist — currently around 7000 BTC per day. The shortage forecast is closely tied to the anticipated halving event in 2024, which will cut the Bitcoin production on each block by half.

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💰 Bitcoin ETFs Are Driving a Spot Multiplier Effect, Canaccord Says

While there has been a lot of noise about how much assets under management (AUM) bitcoin (BTC) exchange-traded funds (ETFs) are attracting, it is now becoming obvious that these ETFs are driving additional demand for the underlying cryptocurrency itself, broker Canaccord Genuity said in a research report on Monday. The broker held its 2024 Digital Assets Symposium last Thursday and hosted leaders from 29 crypto-related companies.

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💰 Bitcoin sees record fees in 2024 as halving approaches

As the Bitcoin halving draws near, Bitcoin activity is witnessing a significant uptick in fees and hash rate. On April 12, Bitcoin recorded its highest one-day fees in 2024, reaching an impressive $11 million. CryptoSlate reported on April 10 that this fee surge had gradually increased since early April. Interestingly, Bitcoin and Ethereum fees are starting to converge, with a difference of just $190k on April 14. Ethereum fees on April 14 hit $5 million, the lowest amount since Feb. 5.

Source

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💰 Bitcoin back above $66k after weekend of panic selling

The digital asset ecosystem experienced a shaky weekend, with Bitcoin plummeting to around $65,000 from its $70,000 trading price on Friday, April 12. The downward trend continued into the weekend, with Bitcoin further declining to $60,800 amidst geopolitical tensions in the Middle East on Saturday evening. However, following a reduction in tension and the approval of Hong Kong ETFs Bitcoin has recovered back above $66,000.

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🇺🇸 The strong demand 💰 Bitcoin is seeing is due to US-listed ETFs and accredited custody options, the upcoming halving and Bitcoin's performance as a hedge against inflation, says Anthony Scaramucci

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🇸🇻 Paying for Starbucks with 💰 Bitcoin in El Salvador

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💰 Bitwise reveals spot Bitcoin ETFs outperformed pre-release predictions by a significant margin

Spot Bitcoin exchange-traded funds (ETFs) surpassed several predictions about their assets as their collective assets under management (AUM) hit $59.1 billion within the first three months of the year, Bitwise revealed in a research report on April 11. JP Morgan and Bitcoin investment management firm NYDIG anticipated that spot Bitcoin ETFs could achieve an AUM of $36 billion and $30 billion by the year’s end. Meanwhile, Matrixport predicted the ETF would garner an AUM between $24 billion and $50 billion by Dec. 31, 2024.

Source

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💰 Robert Kiyosaki Concurs With Cathie Wood’s $2.3M Bitcoin Prediction

American author and financial educator Robert Kiyosaki has voiced his agreement with a $2.3 million per Bitcoin (BTC) prediction that Cathie Wood’s asset management firm Ark Invest made earlier this year. The invest manager explained that a 1% allocation from the $250 trillion global investable asset base could push BTC to $120,000. In the same vein, a 4.8% average maximum Sharpe ratio allocation from 2015 to 2023 would have placed BTC at $550,000, while a 19.4% allocation could make the cryptocurrency skyrocket to $2.3 million.

Source

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💰 BlackRock launches Bitcoin ETF advertising campaign on Bloomberg's homepage.

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💰 Bitcoin mining difficulty hits fresh all-time high in final pre-halving adjustment

Bitcoin mining difficulty rose 3.9% late Wednesday to hit a new all-time high in the final adjustment before the halving, estimated to occur on April 20. The difficulty adjustment came at block height 838,656, reaching a record of 86.39 trillion, according to blockchain explorer Mempool. Bitcoin miners appear to be ramping up their hash rate in preparation for block subsidy rewards dropping from 6.25 BTC to 3.125 BTC next week.

Source

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💰 Bitcoin ETF battle heats up as BlackRock closes in on Grayscale

It has been three months since spot bitcoin ETFs began trading and BlackRock's fund appears to be on pace to usurp Grayscale's as the biggest of the crypto-based investment vehicles on offer. According to Trackinsight data compiled by The Block Data Dashboard, as of Tuesday, BlackRock's IBIT fund had $18.2 billion in assets under management compared to Grayscale's $23.2 billion. Grayscale's ETF started with nearly $30 billion in AUM as the firm's exchange-traded fund is a conversion of its flagship fund.

Source

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💰 Spot bitcoin ETF cumulative trading volume crosses $200 billion

Cumulative trading volume for U.S. spot Bitcoin exchange-traded funds surpassed $200 billion on Tuesday, less than three months after the Securities and Exchange Commission approved ETFs from BlackRock, Fidelity, Bitwise and others. Spot Bitcoin ETF cumulative trading volume has nearly doubled in the last month alone — from when total volume first crossed the $100 billion mark on March 8 — to hit $201.7 billion by the close of trading yesterday, according to The Block’s data dashboard.

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JUST IN: 🇺🇸 US Senator Cynthia Lummis says high ranking government officials feel threatened by 💰 Bitcoin because they can’t control it

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💰 Ark Invest's ETF Holds Unique 'Bitcoin Puppet' NFT Worth Over $27,000

Several spot bitcoin ETFs boast inscriptions within their portfolios, and on Monday, the X account linked to Ord.io revealed that Ark Invest’s ARKB ETF includes a “Bitcoin Puppet” NFT among its assets. This collection consists of 10,001 unique digital puppets, with the base price for one currently standing at 0.39 BTC, or $27,913. The “Bitcoin Puppet” inscription in ARKB’s possession is numbered 53,159,523 out of a total of 67.99 million.

Source

https://t.me/Bitcoin_Magazine


💰 BTC halving to fuel ‘raging firesale of crypto assets’ — Arthur Hayes

The Bitcoin halving this month, combined with a “bag of tricks” from the Federal Reserve and Treasury, will “add propellant to a raging firesale of crypto assets” and depress the crypto market for weeks, says BitMEX co-founder Arthur Hayes. In an April 8 blog post, Hayes wrote he believed the Bitcoin halving would “pump prices in the medium term” but warned crypto prices “directly before and after could be negative.”.

Source

https://t.me/Bitcoin_Magazine

Показано 20 последних публикаций.