Bitcoin Magazine

18 Apr 2024 18:54

💰 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

/channel/Bitcoin_Magazine

Bitcoin Magazine

17 Apr 2024 17:44

💰 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

/channel/Bitcoin_Magazine

Bitcoin Magazine

16 Apr 2024 20:10

💰 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

/channel/Bitcoin_Magazine

Bitcoin Magazine

16 Apr 2024 09:30

💰 Bitcoin sees record fees in 2024 as halving approaches

As the Bitcoin halving draws near, Bitcoin activity is witnessing a significant uptick in fees and hash rate. On April 12, Bitcoin recorded its highest one-day fees in 2024, reaching an impressive $11 million. CryptoSlate reported on April 10 that this fee surge had gradually increased since early April. Interestingly, Bitcoin and Ethereum fees are starting to converge, with a difference of just $190k on April 14. Ethereum fees on April 14 hit $5 million, the lowest amount since Feb. 5.

Source

/channel/Bitcoin_Magazine

Bitcoin Magazine

15 Apr 2024 07:30

🇺🇸 The strong demand 💰 Bitcoin is seeing is due to US-listed ETFs and accredited custody options, the upcoming halving and Bitcoin's performance as a hedge against inflation, says Anthony Scaramucci

/channel/Bitcoin_Magazine

Bitcoin Magazine

13 Apr 2024 17:40

💰 Bitwise reveals spot Bitcoin ETFs outperformed pre-release predictions by a significant margin

Spot Bitcoin exchange-traded funds (ETFs) surpassed several predictions about their assets as their collective assets under management (AUM) hit $59.1 billion within the first three months of the year, Bitwise revealed in a research report on April 11. JP Morgan and Bitcoin investment management firm NYDIG anticipated that spot Bitcoin ETFs could achieve an AUM of $36 billion and $30 billion by the year’s end. Meanwhile, Matrixport predicted the ETF would garner an AUM between $24 billion and $50 billion by Dec. 31, 2024.

Source

/channel/Bitcoin_Magazine

Bitcoin Magazine

12 Apr 2024 08:31

💰 BlackRock launches Bitcoin ETF advertising campaign on Bloomberg's homepage.

/channel/Bitcoin_Magazine

Bitcoin Magazine

11 Apr 2024 10:15

💰 Bitcoin ETF battle heats up as BlackRock closes in on Grayscale

It has been three months since spot bitcoin ETFs began trading and BlackRock's fund appears to be on pace to usurp Grayscale's as the biggest of the crypto-based investment vehicles on offer. According to Trackinsight data compiled by The Block Data Dashboard, as of Tuesday, BlackRock's IBIT fund had $18.2 billion in assets under management compared to Grayscale's $23.2 billion. Grayscale's ETF started with nearly $30 billion in AUM as the firm's exchange-traded fund is a conversion of its flagship fund.

Source

/channel/Bitcoin_Magazine

Bitcoin Magazine

10 Apr 2024 08:35

JUST IN: 🇺🇸 US Senator Cynthia Lummis says high ranking government officials feel threatened by 💰 Bitcoin because they can’t control it

/channel/Bitcoin_Magazine

Bitcoin Magazine

09 Apr 2024 11:31

💰 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.”.

Source

/channel/Bitcoin_Magazine

Bitcoin Magazine

08 Apr 2024 11:14

💰 Paraguay’s proposed Bitcoin mining ban could cost it $200M a year

The Paraguayan economy could lose more than $200 million annually if the country’s lawmakers pass a recently introduced bill to ban crypto mining in the country. Lawmakers introduced the draft bill on April 4, claiming illegal cryptocurrency mines are stealing power and disrupting the country’s electricity supply. If passed, the ban would last 180 days or until new laws are enacted and the national power grid operator can ensure it can supply sufficient energy.

Source

/channel/Bitcoin_Magazine

Bitcoin Magazine

07 Apr 2024 10:39

💰 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

/channel/Bitcoin_Magazine

Bitcoin Magazine

06 Apr 2024 10:59

💰 Bitdeer Utilizes Chip Giant TSMC, Eyeing $60M in Bitcoin Mining Equipment Production

According to the publicly-listed mining corporation Bitdeer, the company is employing Taiwan Semiconductor Manufacturing Company (TSMC) for its Sealminer A1 mining rigs for the third quarter. Bitdeer also disclosed that it extracted 294 bitcoins in March, marking a 28.4% enhancement over March 2023’s earnings. Bitdeer stated that as of March 31, it had “committed orders for wafers” from TSMC, anticipating that the assembly of these rigs would generate $60 million from Sealminer A1 mining equipment.

Source

/channel/Bitcoin_Magazine

Bitcoin Magazine

05 Apr 2024 07:49

💰 Bitcoin mining market cap eclipses $20 billion as industry continues growing amid challenges

Quick Take The Bitcoin mining industry has reached a significant milestone, surpassing a market capitalization of $20 billion, now standing at $20.6 billion, according to Farside data. This milestone emphasizes the growing significance of public miners within the Bitcoin ecosystem, contributing approximately 28% of the global hash rate.

Source

/channel/Bitcoin_Magazine

Bitcoin Magazine

04 Apr 2024 09:59

💰 Bitcoin rose by 3,230% on average after each halving

According to the report, after each mining reward was halved, the Bitcoin (BTC) rate increased by an average of 3,230%. The first halving, dated Nov. 28, 2012, reduced the reward from 50 BTC to 25 BTC. Within 12 months of the halving, the asset’s value rose from $12 to $1,075. Over the year, the rate jumped by 8,858%. By January 2022, the inflation rate changed from 25.7% to 12%.

Source

/channel/Bitcoin_Magazine

Bitcoin Magazine

18 Apr 2024 09:30

💰 Runes hype pushes transaction fees on Bitcoin higher

The bitcoin halving is almost upon us. While this is mostly exciting since it slows bitcoin's issuance, cutting the block reward down to 3.125 BTC, some people are excited about it because of Runes. Runes is a new protocol from Casey Rodarmor, the Bitcoin developer behind Ordinals. While the primary ideas behind Ordinals focused on bringing non-fungibility to Bitcoin, by differentiating specific satoshis by the order in which they were minted, the BRC-20 token standard also emerged, helping to bring new issuance of fungible tokens to the network.

Source

/channel/Bitcoin_Magazine

Bitcoin Magazine

17 Apr 2024 08:25

💰 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

/channel/Bitcoin_Magazine

Bitcoin Magazine

16 Apr 2024 13:23

🚀 Welcome to @Bitcoin_Magazine!

Your go-to source for all things Bitcoin. Stay up-to-date with the latest news, updates, and insights in the world of Bitcoin. Our channel is completely free – we believe in providing open access to information without any subscription fees.


🔗 Share with Friends

Help spread the word and share the wealth of Bitcoin knowledge! Share our channel with your friends: /channel/Bitcoin_Magazine


👤 Channel Owner

For inquiries and more information, feel free to reach out to our channel owner: @BTCMagazineAdmin


📆 Stay Ahead of the Market

Don’t miss out on any critical updates or events in the crypto world. Follow our partner channel for a comprehensive Crypto Coin Calendar: @Bitcoin_Crypto_Coin_Calendar

Bitcoin Magazine

15 Apr 2024 17:40

💰 Bitcoin back above $66k after weekend of panic selling

The digital asset ecosystem experienced a shaky weekend, with Bitcoin plummeting to around $65,000 from its $70,000 trading price on Friday, April 12. The downward trend continued into the weekend, with Bitcoin further declining to $60,800 amidst geopolitical tensions in the Middle East on Saturday evening. However, following a reduction in tension and the approval of Hong Kong ETFs Bitcoin has recovered back above $66,000.

Source

/channel/Bitcoin_Magazine

Bitcoin Magazine

14 Apr 2024 07:50

🇸🇻 Paying for Starbucks with 💰 Bitcoin in El Salvador

/channel/Bitcoin_Magazine

Bitcoin Magazine

12 Apr 2024 18:55

💰 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

/channel/Bitcoin_Magazine

Bitcoin Magazine

11 Apr 2024 19:54

💰 Bitcoin mining difficulty hits fresh all-time high in final pre-halving adjustment

Bitcoin mining difficulty rose 3.9% late Wednesday to hit a new all-time high in the final adjustment before the halving, estimated to occur on April 20. The difficulty adjustment came at block height 838,656, reaching a record of 86.39 trillion, according to blockchain explorer Mempool. Bitcoin miners appear to be ramping up their hash rate in preparation for block subsidy rewards dropping from 6.25 BTC to 3.125 BTC next week.

Source

/channel/Bitcoin_Magazine

Bitcoin Magazine

10 Apr 2024 20:50

💰 Spot bitcoin ETF cumulative trading volume crosses $200 billion

Cumulative trading volume for U.S. spot Bitcoin exchange-traded funds surpassed $200 billion on Tuesday, less than three months after the Securities and Exchange Commission approved ETFs from BlackRock, Fidelity, Bitwise and others. Spot Bitcoin ETF cumulative trading volume has nearly doubled in the last month alone — from when total volume first crossed the $100 billion mark on March 8 — to hit $201.7 billion by the close of trading yesterday, according to The Block’s data dashboard.

Source

/channel/Bitcoin_Magazine

Bitcoin Magazine

09 Apr 2024 20:12

💰 Ark Invest's ETF Holds Unique 'Bitcoin Puppet' NFT Worth Over $27,000

Several spot bitcoin ETFs boast inscriptions within their portfolios, and on Monday, the X account linked to Ord.io revealed that Ark Invest’s ARKB ETF includes a “Bitcoin Puppet” NFT among its assets. This collection consists of 10,001 unique digital puppets, with the base price for one currently standing at 0.39 BTC, or $27,913. The “Bitcoin Puppet” inscription in ARKB’s possession is numbered 53,159,523 out of a total of 67.99 million.

Source

/channel/Bitcoin_Magazine

Bitcoin Magazine

08 Apr 2024 20:04

💰 Bitcoin ETF activity to remain robust until the halving: Santiment

Spot Bitcoin exchange-traded fund (ETF) flows are likely to remain high until the Bitcoin halving later this month, according to on-chain analytics firm Santiment. The blockchain data firm observed that Bitcoin ETF volume hasn’t slowed since the asset hit an all-time high in mid-March, adding, “Trader activity is still notably higher than the turning point that began in late February after an influx of individual trading began” in a post on X on April 8.

Source

/channel/Bitcoin_Magazine

Bitcoin Magazine

07 Apr 2024 19:33

💰 Bloomberg analyst James Seyffart says that GBTC outflows will likely remain BELOW $100M from now on

/channel/Bitcoin_Magazine

Bitcoin Magazine

06 Apr 2024 19:49

💰 Genesis Completes Redemption of GBTC Shares, Buys 32K Bitcoins with Proceeds

Bankrupt crypto lender Genesis has completed the sale of its Grayscale Bitcoin Trust (GBTC) shares and used the proceeds to purchase 32,041 bitcoins, according to court documents filed Friday. The sale of GBTC shares was completed on April 2, the documents show. On Feb. 15, Genesis received permission from a New York bankruptcy court to sell the nearly 36 million shares in GBTC, as well as additional shares in two Grayscale Ethereum trusts.

Source

/channel/Bitcoin_Magazine

Bitcoin Magazine

05 Apr 2024 19:34

💰 BlackRock adds 5 new APs to spot Bitcoin ETF including Goldman Sachs, Citadel, Citigroup

BlackRock, the world’s largest asset manager, has today updated the list of Authorized Participants (APs) for its spot Bitcoin exchange-traded fund (ETF), IBIT. The ETF, which has been live since January 11, 2024, allows investors to gain exposure to Bitcoin without directly holding the digital assets. According to the latest prospectus, BlackRock has added five new Authorized Participants to the list, expanding the total number of APs from four to nine. The new additions include ABN AMRO Clearing USA LLC, Citadel Securities LLC, Citigroup Global Markets, Inc., Goldman Sachs & Co. LLC, and UBS Securities LLC.

Source

/channel/Bitcoin_Magazine

Bitcoin Magazine

04 Apr 2024 18:24

💰 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.

Source

/channel/Bitcoin_Magazine

Bitcoin Magazine

03 Apr 2024 20:19

💰 Cathie Wood’s ARK Bitcoin ETF Records Daily Outflows Surpassing Grayscale’s GBTC 📉

Cathie Wood’s ARK 21Shares Bitcoin exchange-traded fund (ETF) recorded net outflows exceeding $87 million on Tuesday, marking the highest outflow since its inception, as per data from Farside Investors. On April 2, Ark 21Shares Fund’s (ARKB) outflows amounted to $87.5 million, equivalent to roughly 1,300 BTC. This marked the second consecutive day of outflows for ARKB, with $300,000 on April 1, its first-ever day of being net negative. Grayscale, which has consistently experienced outflows since converting to a spot Bitcoin ETF, also recorded another negative day.

Source

/channel/Bitcoin_Magazine