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We post daily the best Bitcoin, Cryptocurrency & Blockchain News. Admin: @LevoBNTG
💰 Bitcoin transaction fees surge to make up 75% of miner revenue post-halving
Bitcoin’s fourth halving introduced a long-term and a short-term shift in miner revenue composition as it reduced the amount of BTC rewarded to miners for each mined block by 50% — directly impacting miner incentives and, by extension, the broader Bitcoin economy. On April 19, just before the halving, transaction fees constituted 11% of total.
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DAVE PORTNOY: 🪙 I wouldn’t buy Bitcoin at these levels. I’m don’t think I can stomach getting back in until it’s in the 40’s again
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💰 “If you look historically at halving events, the price rally over the next year has been substantial after each of the past three,“ says Bitwise CIO Matt Hougan 📈
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💰 Bitcoin ushers in fourth halving as miners' block subsidy reward drops to 3.125 BTC
Bitcoin’s latest halving is now complete, seeing miners’ block subsidy rewards drop from 6.25 BTC to 3.125 BTC. Bitcoin’s fourth halving occurred at block height 840,000, ushering in a new epoch for the network. Hopes of many in the community that the halving would land on the memeable date of 4/20 failed to materialize for the U.S. market as miners appeared to ramp up their hash rate on the network ahead of the subsidy drop.
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💰 BitMEX's bitcoin perpetual swap now offers 250x leverage ahead of halving
Crypto derivatives exchange BitMEX has increased the leverage on its bitcoin perpetual swap, XBTUSD, from 100x to 250x ahead of the halving event. "The increased leverage came upon requests from traders to profit from the volatility as the next Bitcoin Halving happens," BitMEX said Friday. The bitcoin halving event is expected to occur within the next 24 hours and will reduce the issuance rewards for bitcoin miners from the current 6.25 BTC per block to 3.125.
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💰 Google Searches for Bitcoin Halving Skyrockets as Major Event Approaches
The excitement surrounding the upcoming Bitcoin halving has led to a significant increase in Google searches for “Bitcoin halving,” with interest reaching its highest point ever, more than double that of the last halving event in 2020, and is predicted to hit peak popularity. The halving event, which reduces the rewards miners receive by half, from 6.25 BTC to 3.125 BTC, is scheduled to occur around 4am UTC on April 20.
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💰 Bitcoin Staking Is Now Possible With Core Chain
Bitcoin-powered layer-one blockchain Core Chain is now letting investors stake their BTC—something that, historically, BTC holders haven’t been able to do. Staking tokens reward users with a percentage yield—often in the single digits—over a period of time. This has notoriously been exclusive to proof-of-stake blockchains. Traders on Bitcoin, which uses proof-of-work, haven’t been able to stake their tokens.
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💰 Current actions of bitcoin holders mirror December 2020, suggesting possible growth phase: Bitfinex analysts
A significant decrease in the inactive supply of bitcoin that has not moved in over a year is indicative of long-term holders either continuing to trim their holdings or moving their assets off exchange, according to this week's Bitfinex Alpha report. "Fundamental to bitcoin price dynamics is this week’s halving, which as it approaches, has seen a notable surge in bitcoin leaving centralized exchanges, and a decrease in the inactive supply of bitcoin that has not moved in over a year, to an 18-month low," Bitfinex analysts said.
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🇭🇰 Hong Kong approves Bitcoin and Ethereum ETFs as US lingers on ETH approval
Hong Kong further solidified its status as a crypto hub, with several issuers reporting approval of their spot Bitcoin and Ethereum Exchange-Traded Funds (ETFs) applications on April 15. China Asset Management, one of the issuers, disclosed that its Hong Kong entity received regulatory approval to offer virtual asset management services, paving the way for Spot Bitcoin and Ethereum products.
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💰 Grayscale CEO Sees GBTC Reaching Equilibrium, Expects Outflows to Ease
Crypto asset manager Grayscale Investments believes that GBTC “has started to reach a little bit of an equilibrium,” says CEO Michael Sonnenshein, noting that some anticipated outflows from the firm’s spot bitcoin exchange-traded fund (ETF) are “largely behind us.” The crypto asset manager also expects GBTC’s fees to come down “as markets mature.”
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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.
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💰 Bitcoin volatility index launched by CF Benchmarks
UK-based CF Benchmarks has announced the launch of its Bitcoin Volatility Index. The new product facilitates the tracking and trading of 30-day forward-looking bitcoin price volatility. "Volatility indices have become a key indicator in financial markets providing participants with a means to measure investor sentiment and risk appetite," CF Benchmarks CEO Sui Chung said.
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NEW: 🇺🇸 US Senator Marsha Blackburn says more people will start to transact using 💰 Bitcoin in their daily lives
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💰 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.
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🇨🇳 China's Largest Fund Managers Eye Spot Bitcoin ETFs in Hong Kong's Financial Markets
Two of China’s largest fund management firms have recently been reported to be filing applications for spot bitcoin exchange-traded funds (ETFs), according to regional sources on Monday. Harvest Global Investments and Southern Fund are seeking approval from Hong Kong’s Securities and Futures Commission (SFC), aiming to obtain authorization to introduce spot bitcoin ETFs.
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💰 100k signatures can trigger Swiss national referendum on adding Bitcoin to country reserves
Bitcoin advocates in Switzerland have initiated a campaign to trigger a National Referendum urging the Swiss National Bank (SNB) to include the flagship digital asset in its asset reserves. The campaign is spearheaded by Yves Bennaïm, the founder and chairman of 2B4CH, a nonprofit think tank, and enjoys support from Luzius Meisser, the chairman of asset manager Bitcoin Suisse.
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🥇 Bitcoin mining stocks saw spikes across the board ahead of halving event
Several Bitcoin mining firms listed on the Nasdaq stock exchange closed the trading week with a noticeable 24-hour increase in share prices in the lead-up to the Bitcoin halving event. On April 20, Bitcoin celebrated its fourth-ever halving event, and the date was likely firmly marked in the calendars of Bitcoin mining firms as it can significantly disrupt business operations.
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💰 Bitcoin has officially halved!
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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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💰 Blackrock Closes in on Grayscale in the Battle for the ‘World’s Largest’ Bitcoin ETF
Grayscale’s GBTC continued to report reductions in its bitcoin (BTC) reserves following two days of significant outflows—a $55.1 million drop on Friday and a $36.7 million decline on Monday. The reduction continued into Tuesday’s session with a $58 million decrease. Trading volume on Tuesday reached $2.45 billion, which was lower than the volumes recorded on Monday and Friday.
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💰 Umoja Partners With Merlin Chain to Launch Bitcoin's First High-Yield Synthetic Dollar
The smart money protocol Umoja has joined forces with the Bitcoin layer two (L2) initiative, Merlin Chain, to roll out a Bitcoin-based high-yield synthetic dollar. The newly introduced stablecoin is engineered to uphold a self-sustaining peg via transparent, onchain trading techniques developed by Umoja.
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💰 Bitcoin Miners Battle the AI Boom Ahead of Halving: Bernstein
Bitcoin miners are increasingly facing off against a new foe to contend with ahead of this week’s halving: the AI boom. Bitcoin miners are largely centralized operations that mint new digital coins. To do so, a Monday report explains, they need to use a lot of computers and therefore energy. Meanwhile, the booming AI industry is also power-hungry. Both industries look to places like Texas, which has cheap energy and lots of land to build data centers.
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💰 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.
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💰 Sources Say Hong Kong Set to Approve First Spot Bitcoin ETFs as Early as Monday
Following the approval of 11 spot bitcoin ETFs in the U.S., their counterparts in Hong Kong are now anticipated to secure the nod from the country’s Securities and Futures Commission (SFC). Bloomberg reported on Friday that according to insiders, these funds might begin trading on the Hong Kong Stock Exchange (HKSE) by Monday. According to the report, ETFs managed by Harvest Fund Management Company, Hashkey Capital, and Bosera Asset Management are likely to be approved by the SFC.
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💰 TD Bank releases commercial explaining the Bitcoin halving and promotes spot Bitcoin ETFs after
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💰 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.
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💰 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.
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💰 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.”.
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💰 Skybridge Founder: Bitcoin Halving Not Priced in — BTC Has 'a Lot More' Upside
Skybridge Capital founder Anthony Scaramucci discussed his bitcoin outlook in an interview with CNBC Friday. He explained that the demand for spot bitcoin exchange-traded funds (ETFs) “was a big reason” for the recent rebound in bitcoin’s price. “The regulatory hurdle where the United States government is now allowing a CUSIP to be attached to bitcoin is a big reason and … when Wall Street gets a product like this, it’s like a selling machine and it’s generating lots of demand for the product,” he detailed.
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