Bitcoin Magazine

03 Apr 2024 08:29

💰 Silk Road Bitcoin Worth $2B Moved by U.S. Government: On-Chain Data

A wallet tagged as belonging to the U.S. government moved 30,175 bitcoins to what's reported to be a Coinbase wallet late Tuesday morning. At bitcoin's (BTC) current price around the $65,000 level, that would be roughly $2 billion worth of the token. The last confirmed sale by the government – which in late 2022 seized roughly 50,000 bitcoins related to the Silk Road website – was in March 2023 when it unloaded 9,861 coins for $216 million.

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Bitcoin Magazine

02 Apr 2024 04:29

HISTORY: 💰 In 2013, this dude on YouTube begged everyone to buy just $1 worth of bitcoin

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Bitcoin Magazine

30 Mar 2024 17:51

💰 Bitcoin exchanges’ BTC balances have dropped almost $10B in 2024

Nearly $10 billion worth of Bitcoin has left crypto exchanges since the United States spot exchange-traded funds (ETFs) launched. Data from on-chain analytics firm Glassnode shows that since Jan. 11, exchanges are down over 136,000 BTC. Bitcoin supply dynamics continue to sway in bulls’ favor as exchanges see mass withdrawals this quarter. The U.S. spot Bitcoin ETFs have been trading for less than three months, but in that time, around $9.5 billion worth of BTC has been withdrawn from major trading platforms.

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Bitcoin Magazine

29 Mar 2024 20:29

💰 Bitcoin futures open interest reaches new high at $38 billion

Open interest for bitcoin futures on centralized exchanges has reached a fresh high, indicating increased trading activity around the largest cryptocurrency by market capitalization. Since the start of 2024, daily open interest in bitcoin futures has increased by more than 100% from Jan 1, when it was approximately $17.2 billion. This rise coincides with bitcoin’s price surge to $70,000 — a 66% increase year-to-date.

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Bitcoin Magazine

27 Mar 2024 18:44

💰 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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Bitcoin Magazine

25 Mar 2024 17:35

💰 "Bitcoin is the Apex Property of the Human Race."

- Michael Saylor

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Bitcoin Magazine

24 Mar 2024 06:08

💰 “I see a rotation out of the $150 Trillion of stocks and bonds, into Bitcoin, alongside money market funds…and that gets Bitcoin to $300K.”

- Nik Bhatia

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Bitcoin Magazine

23 Mar 2024 10:19

💰 Cathie Wood doubles down on $1.5 million Bitcoin as institutional exposure looms

Ark Invest CEO Cathie Wood said Bitcoin could be worth more than $1.5 million per coin if institutions allocate roughly 5% of their portfolios to the digital asset. The firm’s revised outlook, suggesting a potential surge in Bitcoin’s price beyond the $1.5 million mark, aligns with broader expectations for its integration into the global financial system. With major financial institutions yet to fully embrace Bitcoin, Wood anticipates further upward momentum in its value.

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Bitcoin Magazine

22 Mar 2024 06:29

💰 Bitfinex CTO Paolo Ardoino talks Bitcoin price, ecosystem and scaling

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Bitcoin Magazine

21 Mar 2024 06:39

💰 First back-to-back net outflows for Bitcoin ETFs since late January due to $443 million GBTC outflow

Bitcoin ETFs saw a second day of outflows on March 19, the first instances of back-to-back outflows since Jan 25. Net outflows totaled $362 million, with Grayscale accounting for all outflows at $443 million. Most funds saw no net movement, with BlackRock, Fidelity, and Bitwise seeing inflows, according to Bitmex Research. BlackRock recorded just $75 million, Fidelity $39 million, and Bitwise $2.5 million in inflows on a rare poor performance day for the record-breaking Newborn Nine.

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Bitcoin Magazine

20 Mar 2024 09:14

💰 Bitcoin Halving Is a ‘Show Me the Money’ Moment for Miners

The notorious phrase from 1996’s “Jerry Maguire” movie is on the lips of investors watching the state of the Bitcoin mining market as it faces its next crunch point: April's Bitcoin Halving. Mining, an integral part of securing the bitcoin network, requires a lot of capital to operate profitably. And now, after a brutal crypto winter and with the upcoming halving next month, many investors have turned sour on what once was an outrageously profitable business, drying up capital for the miners.

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Bitcoin Magazine

19 Mar 2024 07:24

💰 "With every halving, the American Dream is getting cheaper in terms of Bitcoin. Bitcoin is giving a lot of young people hope."

- Natalie Brunell

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Bitcoin Magazine

17 Mar 2024 09:02

💰 “If you are going to invest in Bitcoin, a short time horizon is four years, a mid-time horizon is ten years, & the right time horizon is forever.”

- Michael Saylor in 2022

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Bitcoin Magazine

16 Mar 2024 07:55

💰 Financial advisory network Cetera approves the use of 4 spot bitcoin ETFs

Wealth management and financial advisory firm Cetera approved the usage of four U.S. spot bitcoin exchange-traded funds for its network of 9,000 affiliated professionals. BlackRock’s IBIT, Fidelity’s FBTC, Franklin Templeton’s EZBC and Invesco’s BTCO were chosen due to the providers’ track record in successfully launching new product strategies, with the required resources, tools and knowledge, according to a statement from the company on Thursday.

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Bitcoin Magazine

15 Mar 2024 08:55

💰 JAN3 CEO expects Bitcoin to hit a million within 24 months 🚀

“I think this year we hit a million, if not this year then next year but it’s coming very soon.”

- Samson Mow

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Bitcoin Magazine

02 Apr 2024 17:59

💰 Bitcoin ETFs experience first outflow since March 22 at $85.8 million

Data from BitMEX shows that the Bitcoin (BTC) exchange-traded funds (ETFs) saw a net outflow of $85.8 million, equivalent to 1,230.3 BTC, marking the first outflow since March 22. Grayscale’s GBTC continued to dominate the outflows, with $302.6 million, equivalent to 4,337.4 BTC, being withdrawn. GBTC has now seen a staggering $15,070.2 billion of outflows, equivalent to 288,274 BTC, according to BitMEX.

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Bitcoin Magazine

01 Apr 2024 19:24

💰 BlackRock CEO Larry Fink says their spot Bitcoin ETF "is the fastest growing ETF in the history of ETFs."

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Bitcoin Magazine

30 Mar 2024 10:26

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Bitcoin Magazine

28 Mar 2024 16:49

💰 Larry Fink ‘very bullish’ on Bitcoin after IBIT’s record-breaking performance

BlackRock CEO Larry Fink said the record-breaking performance of IBIT has made him more bullish about the future of Bitcoin. Fink made the statement during an interview on Fox Business on March 27, where he called the company’s spot Bitcoin ETF the most rapidly expanding fund in history. He also said that the SEC classifying Ethereum as a security would not be that detrimental to its future and would not hamper the company from issuing a spot ETH ETF.

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Bitcoin Magazine

26 Mar 2024 06:45

💰 Bitcoin CEX trading volume hits record high in March

Bitcoin's trading volume on centralized exchanges has skyrocketed to heights not seen since May 2021. From September 2023 to late March 2024, the volume leaped eightfold, paralleling a dramatic price rally from $34,667 to a staggering $73,000. Yet, despite a price correction, the trading fervor refused to wane. How has this powerhouse managed to capture and sustain such a significant share of the market.

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Bitcoin Magazine

24 Mar 2024 21:05

💰 Bitcoin’s 15% Correction Propelled by Profit-Taking but Bull Cycle Is Far From Over: CryptoQuant

Bitcoin (BTC) had entered a period of price correction following its ascent to an all-time high of $73,700. Miners, whales, and other market participants, including large investors, had begun selling their BTC to make profits. However, analysts at CryptoQuant believe the Bitcoin bull cycle is far from over, as price valuation metrics are largely shy from levels seen in past market tops.

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Bitcoin Magazine

23 Mar 2024 19:09

💰 Bitcoin ETF demand could rise as prices drop, crypto analyst suggests

Amid Bitcoin’s price decline, the spot Bitcoin ETF market has been gloomy recently. Despite these persistent declining net flows, Ki Young Ju, a prominent analyst and CEO at CryptoQuant, has predicted a possible resurgence in the spot Bitcoin ETF market. Using data from the historical netflow trends, the analyst noted that demand for Bitcoin ETFs usually kicks in when the cryptocurrency traces to certain support levels.

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Bitcoin Magazine

22 Mar 2024 21:09

💰 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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Bitcoin Magazine

21 Mar 2024 19:28

💰 Bernstein raises year-end bitcoin price target to $90,000, expects ‘mild’ halving impact on miners

Analysts at research and brokerage firm Bernstein have raised their year-end price target for bitcoin to $90,000 from $80,000 amid improved market dynamics. Ultimately, the analysts expect bitcoin to target $150,000 as the 2024-2025 cycle high, with Bitcoin’s upcoming halving event having less impact on miners than in previous years.

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Bitcoin Magazine

20 Mar 2024 16:50

🇺🇸 Coinbase CEO says they're the custodian for ~90% of US spot 💰 Bitcoin ETF assets

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Bitcoin Magazine

19 Mar 2024 17:49

💰 Bitwise CIO says 'we’re probably a few weeks away' from first wirehouse to support spot bitcoin ETFs

While no major wirehouse in the US has yet supported the new set of bitcoin ETFs, this situation could change soon. "We're probably a few weeks away from the first of those major warehouses approving it — maybe a week away," Bitwise CIO Matt Hougan said on a panel about bitcoin ETFs at the Digital Asset Conference in London. "And within a few months they'll all be able to.".

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Bitcoin Magazine

18 Mar 2024 17:32

📊 BTC and ETH Derivative Tokens Dominate by Securing Several Top Positions in the Crypto Economy

Throughout this month, bitcoin and ethereum have risen to their highest valuations in years. These two pivotal crypto assets have substantially influenced the cryptocurrency market, with bitcoin currently holding a 51.9% market dominance and ethereum at 17% as of mid-March 2024. Furthermore, in recent years, derivative tokens of bitcoin and ether have garnered significant popularity. Among these, STETH and WBTC stand out as preeminent, ranking within the top 20 of the crypto economy’s market capitalizations.

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Bitcoin Magazine

16 Mar 2024 19:10

🇸🇻 El Salvador’s 💰 Bitcoin HODL Strategy Pays Off as Nation Sees 55% Profit

El Salvador, the pioneering country that approved Bitcoin as legal tender, has consistently adhered to its HODL strategy, even amidst the market crash from two years ago and the massive rise toward new ATH this week. According to its Bitcoin tracker, El Salvador has 2,864 BTC, whose current value is $188 million, acquired across 12 transactions at an average price of $42,630 each. Based on today’s market, Bitcoin has seen a 176% increase over the past year, pushing El Salvador’s unrealized gains to $66 million.

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Bitcoin Magazine

15 Mar 2024 16:32

💰 “They have more to fear by not embracing #Bitcoin than by embracing it.” - Saylor

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Bitcoin Magazine

14 Mar 2024 19:25

💰 Court rules Craig Wright is Not Bitcoin creator Satoshi Nakamoto

UK High Court has declared that Dr. Craig Wright, an Australian computer scientist, and businessman, is not the author of the Bitcoin whitepaper, did not create the Bitcoin system, and did not operate under the pseudonym Satoshi Nakamoto from 2008 to 2011. The judgment comes as the culmination of the legal battle between Wright and the Cryptocurrency Open Patent Alliance (COPA).

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