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We post daily the best Bitcoin, Cryptocurrency & Blockchain News. Admin: @LevoBNTG
💰 Bloomberg analyst James Seyffart says that GBTC outflows will likely remain BELOW $100M from now on
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💰 Genesis purchased 32,041 bitcoins to repay customers after selling GBTC shares: Bloomberg
Genesis purchased 32,041 bitcoins using the proceeds from the completed sale of nearly 36 million Grayscale Bitcoin Trust shares. A New York bankruptcy court granted Genesis permission to sell the GBTC shares — in addition to shares in Grayscale Ethereum trusts — on Feb. 14. When the bankrupt crypto lender applied for said permission, its GBTC shares were valued at nearly $1.4 billion, and its Grayscale Ethereum Trust shares were valued at $165 million. (Its Grayscale Ethereum Classic Trust shares were valued at $38 million.)
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💰 Bitcoin’s Acceptance as 'Digital Gold' May Spur Demand From New Investors: Coinbase
Cryptocurrency markets dropped along with other risk assets after the Federal Reserve reiterated a cautious stance on the pace of future interest-rate cuts. Gold has outperformed, and this may benefit bitcoin (BTC), Coinbase (COIN) said in a research report on Friday. “Given the market’s recent hawkish views on rate cuts, we think gold’s performance signals an overweighting on inflation relative to Fed rate changes as well as an overall belief that certain inflation bumps could materialize more problematically than anticipated,” the report said.
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🏦 Coinbase partners with Lightspark for 💰 Bitcoin Lightning payments
Coinbase is one step closer to integrating Bitcoin Lightning on its platform amid a new partnership with Lightspark, an enterprise-focused Lightning solution led by former PayPal president David Marcus. In an April 4 X post, Coinbase’s CEO Brian Armstrong said the integration of the Bitcoin layer-2 network will happen “soon” — which will allow its 108 million user base to leverage potentially faster and cheaper Bitcoin transactions.
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💰 Bitcoin Miners Score Record Monthly Revenues At Over $2 Billion
The Bitcoin mining industry had its most lucrative month ever in March, pocketing over $2 billion for securing the leading crypto network. The latest figure shatters the 30-day averages of the previous two months, which were just $48.31 million as of February 29, and $43.29 million as of January 31. Miner revenues are almost entirely dependent on Bitcoin’s market price, since the number of newly mined coins remains mostly the same at any given time, irrespective of demand. Throughout March, Bitcoin consistently traded above $60,000 USD, topping an all-time high of over $73,000 on March 13.
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💰 Bitcoin leads over $800 million global crypto ETP market rebound, overshadowing Ethereum outflows
Last week, the digital asset market witnessed a significant influx of over $800 million, spearheaded by Bitcoin’s dominance, according to the weekly flow report shared by CoinShares‘ head of research James Butterfill. In comparison, outflows from Grayscale’s GBTC continue apace, with $960 million recorded during the past week. This brings the total outflows from GBTC to more than $6 billion in March and $14.7 billion on the year-to-date metrics.
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💰 Galaxy CEO: US Debt Crisis Drives Demand for Bitcoin
Galaxy Digital CEO Mike Novogratz has proposed several measures to prevent a U.S. debt spiral. The executive explained that the U.S. debt crisis makes it “so easy to convince people to buy bitcoin and other hard assets.” He emphasized that implementing these measures could give the U.S. a chance to avoid a “debt death spiral.”. He also outlined a series of proposals aimed at tackling this fiscal challenge.
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💰 Spot bitcoin ETFs break five-day outflow streak
After five consecutive days of outflows, spot bitcoin exchange-traded funds (ETFs) experienced a total net inflow yesterday. The net inflow into spot bitcoin ETFs on Monday totaled $15.7 million, according to data from SoSo Value. This follows consecutive single-day outflows of as much as $326.2 million, which occurred on March 19, per The Block's data.
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💰 Michael Saylor telling journalist Laura Shin Bitcoin is going up "forever" 3 years ago
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💰 Bitcoin Tops Crypto Priority for Blackrock Clients as IBIT Holdings Reach 243K BTC
Blackrock’s head of digital assets has revealed that bitcoin is the overwhelming favorite cryptocurrency for the asset management firm’s clients. “And then a little bit Ethereum, and very little everything else,” he added. Blackrock’s spot bitcoin exchange-traded funds (ETF), the Ishares Bitcoin Trust (IBIT), has amassed approximately 243K bitcoins since its launch.
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💰 LAPD Recovers $6.9 Million Worth of Stolen Bitcoin Mining Rigs, Suspects in Custody
The Los Angeles Police Department (LAPD) has apprehended three individuals following the theft of bitcoin mining equipment valued at $6.9 million. The Commercial Crimes Division’s Cargo Theft Unit announced the retrieval of all stolen items. The event first came to light through coverage by KTLA, with local journalist Josh DuBose revealing the identities of the accused as 47-year-old Vardan Vardanyan, 36-year-old Vagarshak Vardanyan, and 34-year-old Samvel Pilovan.
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💰 $30 Billion RIA platform Carson Group Vice President reveals they are seeing advisors allocate 3.5% of client households to spot Bitcoin ETFs
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💰 Bitcoin Rallies Post-Fed Rate Announcement, Shorts Worth $151.69M Liquidated
The valuation of bitcoin (BTC) tapped the $68,000 mark merely 17 hours following its dip to $60,760 per unit. Following the latest Federal Open Market Committee (FOMC) session, the entire crypto market has seen a 5.9% upturn, with bitcoin rising 6.8% versus the U.S. dollar. Currently, the crypto market is bustling with a trading volume of $207 billion, with BTC trades contributing $72.93 billion to this figure. BTC now hovers slightly beneath the $68,000 benchmark, trading at $67,432 per unit at 6:55 p.m. ET.
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💰 In 2019, a CNBC host said it's “crazy” to Tom Lee's advice to invest 1-2% of assets in Bitcoin for $5,000
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💰 Bitcoin.org Owner Cobra Predicts Next Bitcoin 'Great Divide'
Cobra, the pseudonymous owner of the Bitcoin.org domain, has anticipated what might be the next conflict in the Bitcoin arena. According to him, a conflict that will face two sides to change the face of Bitcoin’s scope and focus is looming and might develop soon. Cobra believes that this new battle for Bitcoin will face a party that seeks to maintain Bitcoin as it is and another that will seek to evolve Bitcoin to include more features to enhance Bitcoin’s features and functionality.
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💰 Banks Seek to Purchase Bitcoin Directly From BTC Mining Firm Hut 8, Says CEO
Per the CEO of Hut 8, a bitcoin mining company listed on the Toronto stock exchange, major financial institutions have made inquiries to purchase bitcoin directly from the firm. Additionally, the Hut 8 executive emphasized the forthcoming halving event’s “big impact,” noting a surge in demand juxtaposed with a reduction in available bitcoins.
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💰 Binance set to end Bitcoin NFT support despite recent surge in interest
Crypto exchange Binance is set to end support for Bitcoin NFTs less than a year after they were introduced to its marketplace. Binance said in a blog post on Thursday it would not support any further airdrops, benefits, or utilities associated with Bitcoin NFTs after April 10, citing “ongoing efforts to streamline product offerings” on its NFT marketplace.
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💰 Arkon Energy Strikes Deal With Bitmain for 27,700 Bitcoin Mining Rigs
Arkon Energy has revealed its acquisition of 27,700 bitcoin application-specific integrated circuit (ASIC) mining units from the renowned manufacturer Bitmain. The company specified that it would receive 13,500 S21 Antminer rigs and 14,200 T21 mining machines. The delivery, scheduled to begin in June 2024, will enhance the firm’s joules per terahash (J/T) efficiency.
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💰 Bitcoin Dips Below $66,000 Ahead of Fourth Halving, Loses Over 5% in 24 Hours 📉
The price of bitcoin experienced a decline on Monday, near 10:00 p.m. Eastern Time (ET), tumbling to a position slightly over the $66,000 mark. By 6:30 a.m. the following day, it had edged down further to reach its intraday low of $65,480 per unit. In the wake of this downturn, the crypto derivatives markets saw the liquidation of bitcoin long positions amounting to $135.3 million wiped out.
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💰 Hedge fund manager Mark Yusko predicts $150,000 Bitcoin by end of year, spurred by halving
Hedge fund manager Mark Yusko believes Bitcoin's blockbuster year is merely getting started. In an interview on CNBC, the Morgan Creek Capital Management CEO was typically bullish on the price of the coin, which he called "the dominant token" and "a better form of gold.". Yusko pegged the fair value in this cycle around $75,000, boosted by the halving but weighed down from a potential value of $100,000 by transaction fees from Ordinals and inscriptions. "This time I think probably two-times [$75,000] because there's less leverage, so that gets us to $150,000.
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💰 Spot bitcoin ETFs see fourth consecutive day of net inflows to end the month
Flows into spot bitcoin exchange-traded funds remained net positive on Thursday for the fourth consecutive day — closing the month on a strong note. The daily total net inflow for the spot bitcoin ETFs in the United States was $183 million as of March 28 — bringing the cumulative total net inflow to about $12.13 billion — according to data from SoSo Value.
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💰 Sell-side risk ratio hit 3-year high as Bitcoin broke above $73k
Bitcoin, a specific metric silently predicts the market's next move — the sell-side risk ratio, a nuanced measure comparing daily investor activity against Bitcoin's total market capitalization. The metric has recently hit levels not seen since March 2021. This surge came after an impressive price jump from $45,330 to $73,104, catching the eye of savvy investors.
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💰 Robert Kiyosaki Predicts Bitcoin Hitting $100K by September — Plans to Buy BTC This Week as Halving Nears
Rich Dad Poor Dad author Robert Kiyosaki has updated his bitcoin price prediction. He now anticipates the cryptocurrency reaching $100K by September. The famous author also announced his intention to purchase more bitcoin this week, citing the approaching halving event. He encouraged investors to consider adding bitcoin to their portfolios if they haven’t already done so.
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💰 Cypherpunk legend Adam Back expects Bitcoin to be at +100k 🙌
"$100,000 Bitcoin price "seems way overdue."
- Adam Back
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💰 Bitcoin bearish bias remains strong
Bitcoin’s (BTC) attempt to recover and reclaim its all-time high above $73,000 is facing hurdles, with the asset currently trading below the $70,000 mark amid anticipation ahead of the halving event. Recent price movements have led to Bitcoin’s bearish price predictions, with a section of the market suggesting the outlook is part of the pre-halving retrace. For instance, cryptocurrency trading expert Alan Santana, in a TradingView post on March 23, warned investors to brace for a sell-off, noting that Bitcoin’s bearish bias remains strong.
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💰 Bitcoin Slips to $64K as Large Grayscale GBTC Outflows Continue 📉
Volatility in crypto markets continued Friday, with bitcoin (BTC) tumbling below $63,000 at one point from the $67,000 area just hours earlier. A modest rebound since has taken the price back to the current $64,000, down 3.7% over the past 24 hours. The sell-off rippled through the market, with the broad CoinDesk 20 Index was lower by 4.4% over the same time frame, led by layer-1 network Solana's token (SOL) declining more than 10% at one point.
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💰 BTC Price Rebounds Despite The Third Day of Outflows for Bitcoin ETFs
United States spot Bitcoin exchange-traded funds (ETFs) have experienced three consecutive days of total net outflows, with $261.5 million exiting the funds on March 20. According to Farside Investors data, the three-day net outflows have reached $742 million, as March 18 and 19 witnessed respective net outflows of $154.3 million and $326.2 million. On the other hand, BlackRock’s iShares Bitcoin Trust (IBIT) had its second-lowest net inflow day at $49.3 million, while the Fidelity Wise Origin Bitcoin Fund (FBTC) also had a relatively weak inflow day at $12.9 million.
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🇺🇸 Coinbase CEO says they're the custodian for ~90% of US spot 💰 Bitcoin ETF assets
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