💰 Bitcoin long-term holder begin to ease off profit-taking: Glassnode

Bitcoin's March all-time high saw a spike in profit-taking by long-term holders, but this activity has since begun to taper off, a Glassnode report said. According to the report, the balance of assets between long-term bitcoin holders and new demand suggests the current market is in the early stages of a euphoria, or price discovery, phase. However, the Glassnode analysis noted that previous euphoria phases have experienced numerous price drawdowns exceeding 10%, with the majority being much deeper, with 25% plus price corrections being commonplace.

Source

https://www.tg-me.com/BitcoinCryptoSignals/com.Bitcoin_Crypto_Signals

💰 GBTC Drops Nearly 3,000 BTC in a Day as Blackrock, Fidelity Command Record Inflow Streaks

As of yesterday, GBTC possessed 325,686.78 BTC, but as per Grayscale’s website, this figure has diminished to 322,697.17 BTC today. This indicates a reduction of 2,989.61 BTC from its holdings in just one day. On April 8, the fund experienced a substantial outflow of $303 million, dragging the total net flows of all ETFs into the red, even though every other fund recorded inflows. GBTC’s holdings are currently valued at approximately $23.12 billion, and since Jan. 12, 2024, the fund has reduced its bitcoin holdings by a total of 294,382.82 BTC.

Source

https://www.tg-me.com/BitcoinCryptoSignals/com.Bitcoin_Crypto_Signals

🇭🇰 Hong Kong Said Likely to Approve Spot 💰 Bitcoin ETFs Next Week: Reuters

Hong Kong regulators are likely to approve the first set of applications for spot bitcoin exchange-traded funds (ETF) next week, making it possible that the products could be ready to start trading in April, Reuters reported, citing two people familiar with the matter. Australia and Hong Kong are the two jurisdictions that could become the first in Asia to offer spot bitcoin ETFs, with Singapore and the UAE not reflecting immediacy just yet.

Source

https://www.tg-me.com/BitcoinCryptoSignals/com.Bitcoin_Crypto_Signals

💰 Independent financial advisors start disclosing Bitcoin exposure via ETFs

Two financial advisors disclosed investments in spot Bitcoin ETFs on April 9. Signal Advisors, a Michigan-based startup serving independent financial advisors, disclosed ownership of 20,571 BlackRock iShares Bitcoin Trust (IBIT) shares. Spot Bitcoin ETF shares comprise a small amount of each firm’s investments. Wedmont has over $1.3 billion in assets under management (AUM), while Signal’s AUM stands at roughly $403 million.

Source

https://www.tg-me.com/BitcoinCryptoSignals/com.Bitcoin_Crypto_Signals

💰 Bitcoin mining difficulty rises 4% just days before halving event

Bitcoin mining difficulty increased by 4% during the past day, reaching a high of 86.39 trillion hashes on April 10. This uptick is consistent with the ongoing trend witnessed since the beginning of the year, highlighting the mounting computational challenges miners face on the leading digital asset network. The increasing difficulty has occurred amid BTC’s rapid rise to more than $70,000 thanks to the bullish momentum fueled by spot exchange-traded funds and the impending halving event.

Source

https://www.tg-me.com/BitcoinCryptoSignals/com.Bitcoin_Crypto_Signals

🪙 Crypto Miners Run Down Bitcoin Inventory to 3-Year Low in a Strategic Pre-Halving Move

Bitcoin miners are depleting their coin stashes, possibly to ensure the sustainability of operations in the face of the impending halving of per-block rewards from April 20. The number of bitcoin held by miners, which receive the coins in return for validating transactions in the blockchain block, declined to 1.794 million BTC this week, the lowest since early 2021, according to data source CoinMetrics.

Source

https://www.tg-me.com/BitcoinCryptoSignals/com.Bitcoin_Crypto_Signals

💰 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

https://www.tg-me.com/BitcoinCryptoSignals/com.Bitcoin_Crypto_Signals

💰 Bitcoin Plunges to $66K 📉 , Altcoins Tumble 10-15% on Ugly Day for Risk Assets

Cryptocurrencies tumbled Friday as risk-off sentiment in traditional markets amid flared-up geopolitical risks spread over to digital assets. In fast downward afternoon action during U.S. trading, bitcoin (BTC) plunged below $66,000 after having challenged the $71,000 level just hours earlier. At press time, bitcoin had bounced back to $66,700, down more than 5% over the past 24 hours.

Source

https://www.tg-me.com/BitcoinCryptoSignals/com.Bitcoin_Crypto_Signals

🇬🇧 Chinese Fraud Victims Seek Government Aid in Recovering 💰 61,000 BTC Seized by UK Law Enforcement

A group of Chinese victims of a $6 billion fraud scheme have requested assistance from their country’s foreign ministry in recovering 61,000 bitcoins, seized from a fraudster and her associate. The fraud victims have strongly opposed attempts to transfer the ownership of these bitcoins to the U.K. government.

Source

https://www.tg-me.com/BitcoinCryptoSignals/com.Bitcoin_Crypto_Signals

💰 Crypto prices rebound from selloff as Bitcoin dominance hits three-year high

Bitcoin's dominance over all other cryptocurrencies has hit its highest value in three years following crypto's mild recovery from yesterday's sharp selloff, which was sparked by the news of an impending Iranian attack against Israel. Following the recovery, according to The Block's data dashboard, Bitcoin now commands nearly 53% of the crypto market, the most since early April 2021 and more than every other cryptocurrency combined.

Source

https://www.tg-me.com/BitcoinCryptoSignals/com.Bitcoin_Crypto_Signals

💰 Bitcoin NFTs outperform ETH and SOL combined in trading volume ahead of halving

Bitcoin-based non-fungible tokens (NFTs) in the form of Inscriptions are in the spotlight as the network halving event looms closer. Data from CryptoSlam indicates that Bitcoin NFTs have dominated the market, representing 55% of total NFT trades observed over the past week. The trading volume of Bitcoin NFTs in the past week has outstripped that of Ethereum and Solana combined. Bitcoin NFT sales surged by 96% during this period, reaching $176.8 million.

Source

https://www.tg-me.com/BitcoinCryptoSignals/com.Bitcoin_Crypto_Signals

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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.

Source

https://www.tg-me.com/BitcoinCryptoSignals/com.Bitcoin_Crypto_Signals

💰 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.

Source

https://www.tg-me.com/BitcoinCryptoSignals/com.Bitcoin_Crypto_Signals

💰 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.

Source

https://www.tg-me.com/BitcoinCryptoSignals/com.Bitcoin_Crypto_Signals

🥇 Bitcoin barely holds on to $60k as bears retest March lows

Bitcoin (BTC) took a downturn below $60,000 on April 17 as US markets began trading, marking a return to prices last seen in early March before the digital currency rallied to new heights. The flagship crypto touched a low of $59,658 before modestly recovering to around $60,800 as of press time, based on CryptoSlate data. Bitcoin was clinging to the $60,500 support level after a slowdown in sell pressure, with bulls attempting a potential recovery above $61,000.

Source

https://www.tg-me.com/BitcoinCryptoSignals/com.Bitcoin_Crypto_Signals

💰 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).

Source

https://www.tg-me.com/BitcoinCryptoSignals/com.Bitcoin_Crypto_Signals

💰 Bitcoin Halving: Goldman Sachs Downplays Impact of 'Buy the Rumor, Sell the News'

Goldman Sachs analysts believe that whether the upcoming Bitcoin halving will turn out to be a “buy the rumor, sell the news” event may have less impact on bitcoin’s medium-term outlook. They explained that the bitcoin price performance will likely continue to be driven by the supply-demand dynamic and continued demand for spot bitcoin exchange-traded funds (ETFs), “which combined with the self-reflexive nature of crypto markets is the primary determinant for spot price action.”

Source

https://www.tg-me.com/BitcoinCryptoSignals/com.Bitcoin_Crypto_Signals