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💰 Spot Bitcoin ETFs Could See $220B of Inflows in Next 3 Years: JMP Securities
Spot bitcoin (BTC) exchange-traded funds could see $220 billion of inflows over the next three years, which means BTC's price could quadruple to $280,000 when applying the multiplier on new capital, broker JMP Securities said in a research report Wednesday. The broker raised its price target on the stock to $300 from $220, the highest among Wall Street analysts, according to Factset data, while maintaining its market outperform rating.
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💰 Bitcoin Fog Founder Convicted of Money Laundering
The founder of Bitcoin Fog, a long-running cryptocurrency mixer, was convicted by a federal jury in Washington on Tuesday of facilitating the laundering of over 1.2 million bitcoins (BTC) – worth about $860 million at today’s prices – tied to darknet marketplaces. Los Angeles International Airport in April 2021 and charged with money laundering, operating an unlicensed money transmitting business, and money transmission without a license.
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💰 MicroStrategy spends $821 million to grow its Bitcoin hoard to 205,000
MicroStrategy has increased its Bitcoin stash to more than 200,00 after acquiring 12,000 Bitcoin for $821 million between Feb. 26 and Mar. 10, according to a Mar. 11 SEC filing. MicroStrategy has acquired more than 15,000 BTC for nearly $1 billion since the beginning of the year. As a result, the firm’s total BTC holding has risen to 205,000, acquired at an aggregate purchase price of roughly $6.91 billion, averaging about $33,706 per bitcoin.
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💰 BlackRock's Bitcoin ETF Nears 200K BTC, Passing Michael Saylor's MicroStrategy
In less than two months of existence, the BlackRock iShares Bitcoin ETF (IBIT) has accumulated more bitcoin (BTC) than MicroStrategy (MSTR). According to the fund's latest disclosure, IBIT held 195,985 bitcoin on Friday after another day of significant inflows. Meanwhile, the most recent public statements from MicroStrategy show the company as of Feb. 26 held 193,000 tokens.
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💰 Tom Lee Reveals What Will Drive Bitcoin’s Price to $150,000
Fundstrat’s Tom Lee predicted Bitcoin prices will swell to $150,000 by year’s end on CNBC this week. Moreover, the Bitcoin bull said it’s because of the cryptocurrency’s appeal to Millennials and Gen Z. Speaking with CNBC’s Brian Sullivan on “Last Call,” Lee said, “It’s a generational issue” for Millennials and Gen Z, who are more open to adopting cryptocurrency.
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💰 BlackRock plans to purchase spot bitcoin ETFs for its Global Allocation Fund
BlackRock may purchase spot bitcoin exchange-traded funds (ETFs) for its Global Allocation Fund, according to the U.S.-based asset manager’s updated filing with the Securities and Exchange Commission. The Global Allocation Fund, which utilizes U.S. and foreign equity, debt and money market securities in maximizing returns, held $17.8 billion in assets under management as of March 7, according to BlackRock.
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💰 Total Bitcoin ETF net inflows reach $8.9 billion
BitMEX data showed $332 million in inflows into Bitcoin ETFs, equivalent to 4,995 Bitcoin, on Mar. 6. Leading the charge was BlackRock’s IBIT, which added $282 million to its coffers, bringing its total net inflows to $9.4 billion. This implies that IBIT currently holds around 188,000 BTC. Fidelity’s FBTC wasn’t far behind, maintaining a strong momentum with a robust net inflow of $206 million. This growth brings their total net inflows to $5.6 billion, equivalent to roughly 113,000 Bitcoin, according to BitMEX.
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💰 BlackRock’s IBIT spot bitcoin ETF hits record daily inflow of $788 million
BlackRock’s IBIT spot bitcoin exchange-traded fund hit record daily inflows of $788.3 million on Tuesday as bitcoin reached a new all-time high above $69,000 for the first time since November 2021. IBIT’s inflows yesterday were 30% higher than its previous $603.9 million record set on Feb. 29, eclipsing the $562.7 million total net inflows registered on Monday for all U.S. spot bitcoin ETFs combined, according to BitMEX Research data.
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💰 Jim Cramer says “better to be lucky than good” when asked about Michael Saylor’s record $7,000,000,000 worth of bitcoin profit
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💰 Bitcoin price climbs above $64,000 briefly, BTC futures open interest hits all-time high
The price of bitcoin rose above the $64,000 mark at one stage on Monday morning in Asia, swinging around 7% away from the cryptocurrency’s all-time high set in November 2021, according to The Block’s Price Page. As of 9:30 a.m. Hong Kong time, the world’s largest cryptocurrency by market cap, traded at around $63,500, rising 3.4% in the last 24 hours. The GMCI 30 Index, measuring the performance of the top 30 cryptocurrencies, was at 137.39, up 2.21% in 24 hours.
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💰 Galaxy Digital Sees 'Tremendous Global Demand for Bitcoin' — CEO Says 'There's a New Army of Buyers'
Galaxy Digital CEO Mike Novogratz sees “a tremendous global demand for bitcoin,” emphasizing: “This is probably the first time in the history of bitcoin that we have true price discovery.” Noting that there is “a new army of buyers” and there is also “an army of salespeople,” he expects the price of bitcoin to be “much higher.”
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💰 Coinbase sees massive $1 billion Bitcoin withdrawal
The event, occurring on Mar. 1 during Asia trading hours, involved a transaction of approximately 16,000 BTC, or roughly $1 billion. Confirmations from multiple platforms, including Santiment, Arkham, and Coinglass, have validated this information. According to data from Santiment, Coinbase saw a significant drop in holdings, falling from approximately 398k to 381k BTC. Coinglass, another digital asset monitoring platform, echoed these findings, confirming the departure of 16k BTC from the exchange.
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💰 Spot Bitcoin ETF volumes shatter record with massive $7.7B traded
United States spot Bitcoin exchange-traded funds (ETFs) have set a new record for daily trading volumes — beating the previous tally by over one and a half times. The ten ETFs saw $7.69 billion in volume on Feb. 28, per data posted to X by Bloomberg ETF analyst James Seyffart. The previous record was $4.66 billion in volume seen on the fund’s Jan. 11 launch day. BlackRock’s iShares Bitcoin ETF (IBIT) took up 43.5% of the total — seeing $3.35 billion in trading volume and doubling its previous daily record.
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💰 Bitcoin Bulls Target $69K Lifetime Highs Ahead of Halving
Euphoric sentiment, institutional buying demand, and historical gains linked to bitcoin’s (BTC) halving event are putting the asset on track to cross its lifetime highs of $69,000 in March, some traders say. Bitcoin halving has always been associated with bull rallies, with the asset’s prices increasing by several hundred percent in the months following previous events. Halvings happen about every four years and decrease the block rewards to miners.
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💰 Total value locked in liquid staking protocol Lido surpasses $30 billion
Ethereum liquid staking protocol Lido reached $30.56 billion in total value locked in Feb. 26, according to The Block's Data Dashboard. Lido has seen increased adoption and steadily rising TVL since around July 2022. Lido's last major peak in TVL was $20.83 billion on April 5, 2022, a month before the collapse of the Terra USD stablecoin ecosystem. Lido's high TVL makes it the biggest validator on the proof-of-stake blockchain Ethereum, controlling 32% of staked ether.
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💰 Spot bitcoin ETF net inflows cross record $1 billion in a single day
Yesterday was yet another day of record inflows for the recently approved spot bitcoin exchange-traded funds in the United States. On March 12, net spot bitcoin ETF inflows hit over $1 billion, according to data from BitMEX Research. At the same time, Blackrock's IBIT product — which, earlier this week, crossed 200,000 BTC in assets under management — saw a record $849 million inflow.
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💰 BlackRock’s IBIT spot bitcoin ETF amasses 200,000 BTC in two months
After just two months of trading, BlackRock’s IBIT spot bitcoin exchange-traded fund crossed 200,000 in assets under management on Monday. The newborn nine spot bitcoin ETFs — excluding Grayscale’s converted GBTC fund — total more than 420,000 BTC. Of the newborn nine ETFs, Fidelity’s FBTC is currently in second place with over 128,000 BTC and Ark Invest 21Shares’ ARKB is third with nearly 38,000 BTC per BitMEX Research data.
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💰 Miners remain best equity proxy as bitcoin targets $150,000, Bernstein says
Investing in bitcoin miners is the best equity proxy to bitcoin as the largest cryptocurrency by market cap heads toward $150,000, according to analysts at research and brokerage firm Bernstein. The analysts noted that miners almost always outperform bitcoin during bull markets and underperform during bear markets. “Investors have to take a through-cycle view and for us, we are still mid-way into the 2024-25 cycle and see every window of miner weakness as a buying opportunity,” they said.
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💰 Galaxy Digital CEO Anticipates BTC Reaching $100K This Year Citing 'Runaway Momentum' in Spot Bitcoin ETFs
Galaxy Digital CEO Mike Novogratz firmly believes that bitcoin will reach $100K this year. “Right now there are more buyers and sellers,” he explained, adding that there is “runaway momentum” in bitcoin exchange-traded funds (ETFs). In addition, he pointed to a “new phase of bitcoin” as the asset class welcomes baby boomers. He further asserted that the cryptocurrency “is a report card on fiscal prudence and there’s no fiscal prudence here right now.”
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💰 Bitcoin Will Likely Reach $250k This Cycle, Says Lead Glassnode Analyst
Bitcoin (BTC) will blow past $250,000 this cycle thanks to years of HODLer conviction slingshotting its price to the moon, according to lead Glassnode analyst James Check. In an interview with What Bitcoin Did on Thursday, the analyst broke down why the Bitcoin market appears far more robust compared to the last time the asset’s price touched $69,000.
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💰 Bitcoin call options cluster at $70,000 shows bullish skew, analyst says
Bitcoin options are signaling bullish sentiment, evidenced by the strike positioning and put-call ratio for March's end-of-month expiry, according to one analyst. "Since the recent ascent of bitcoin to a new all-time high, the highest instruments traded by volume are monthly and mid-month expiry call options with a strike price of $70,000," Bitfinex Head of Derivatives Jag Kooner told The Block.
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💰 Bitcoin 'V-Shape' Recovery Opens Way for $76K Price Target: Swissblock
Bitcoin's (BTC) record-setting move above $69,000 quickly turned into a bloodbath on Tuesday, but its rapid recovery to $67,000 one day later may foreshadow another imminent run for new all-time highs, according to crypto analytics firm Swissblock. According to a chart shared by Swissblock, bitcoin's quick break back above the $62,000 level marked the start of a fresh uptrend targeting the $76,000 price level.
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💰 Bitcoin slides almost 9% to $63,150 after setting new ATH 📉
Bitcoin experienced a notable price adjustment, declining nearly 9% following its ascent to a record-setting pre-halving all-time high. The leading digital currency, which captured significant attention for its surge to $69,324, subsequently corrected to roughly $64,580 within an hour — illustrating the market’s volatility.
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💰 Bitcoin breaches all-time high against euro and pound
Bitcoin BTC has hit an all-time high against the euro and pound. On Monday, the market-leading cryptocurrency reached all-time highs of €60,447 and £51,736 on Coinbase. The foremost digital asset has increased by almost 6% in the past 24 hours, changing hands for $65,163 at 5:34 a.m. ET. The Dollar Index, a key indicator of U.S. currency strength against six major rivals, displayed an upward trend last week. It has cumulatively gained 2.7% throughout January and February of 2023.
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💰 Bitcoin consolidating above $62k as bull market indicators start flashing
The crypto market has entered March with its foot firmly on the accelerator despite showing signs of a slight slowdown from its recent rapid ascent. Bitcoin (BTC) has continued to hover around the $62,000 mark, showcasing a resilient stance amid varying market sentiments after its remarkable rally past the $60,000 threshold to a high of $64,000 at the end of February. BTC was trading at $62,130 as of press time, with a market cap of $1.22 trillion, based on CryptoSlate data.
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💰 Bitcoin Cash Soars 40% in 24 Hours as Market Eyes Upcoming Halving and Adaptive Block Size Upgrade
On Saturday, March 2, the valuation of bitcoin cash witnessed a significant increase, climbing over 40% within a 24-hour span to reach a peak of $451 each. This upward trend is attributed to the anticipated halving event, set to happen in 16 days, and the forthcoming 2024 upgrade, which is expected to implement an adaptive block size limit algorithm.
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💰 JPMorgan says bitcoin price could drop toward $42,000 after April halving
The upcoming Bitcoin halving event scheduled for April could trigger a sharp decline in the price of bitcoin, according to JPMorgan analysts. The halving event will reduce Bitcoin miners' rewards from the current 6.25 BTC per block to 3.125 BTC and this reduction will negatively impact miners' profitability and lead to a higher bitcoin production cost, JPMorgan analysts led by Nikolaos Panigirtzoglou wrote in a report on Wednesday.
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🥇 BlackRock Bitcoin ETF Smashes Daily Inflow Record, Ranks 2nd In United States
BlackRock’s Bitcoin (BTC) ETF has cracked a new daily inflow record, helping push Bitcoin’s above $60,000 for the first time since November 2021. The iShares Bitcoin Trust (IBIT) absorbed another $520 million on Tuesday, bringing the fund’s total flows since launch above $6.5 billion. Furthermore, thanks to Bitcoin’s rising price during that period, the value of the firm’s Bitcoin stash has appreciated to over $8 billion.
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💰 Peter Brandt Predicts $200,000 Bitcoin (BTC) Peak by 2025 After Channel Breakout
Popular trader Peter Brandt has adjusted his forecast for Bitcoin’s peak in the ongoing bull market. The commodity and foreign exchange trader for over thirty years now has predicted that the leading crypto asset will hit $200,000, a significant increase from the earlier projection of $120,000. In his latest tweet, Brandt highlighted the breakout – which occurred as Bitcoin surpassed $55,000 before subsequently climbing above $57,000 – as it breached the trendlines connecting lows from November 2022 and September 2023 and highs from April 2023 and January 2024.
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🆘 BitForex alleged $2.5 billion volume flatlines as exchange abruptly goes offline
Hong Kong-based crypto exchange BitForex appears to have gone entirely dark following the suspension of its website and trading application on Feb 23. Users have been unable to initiate withdrawals or access the exchange for several days, which boasted over $2 billion in trading volume as recently as Feb 24. Data from CoinGecko shows trading volume decreasing from $2.5 billion to $1 billion between Feb 22 and Feb 24 before flatlining.
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