Bitcoin Crypto Signals

2024-04-10 08:55:15 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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2024-04-09 20:45:33 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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2024-04-09 11:39:52 BlackRock and Fidelity’s Bitcoin ETFs make history with record streak of inflows

BlackRock’s iShares Bitcoin Trust (IBIT) and the Fidelity Wise Origin Bitcoin Trust (FBTC) have broken another record by becoming two of the top 20 exchange-traded funds with the longest streak of continuous inflows of all time. Bloomberg ETF analyst Eric Balchunas observed on April 8 that the two spot Bitcoin ETFs have seen continuous inflows since their launch 59 trading days ago. IBIT and FBTC will enter the top 10 ranking if they continue to see inflows for another 11 days.

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2024-04-08 21:39:53 Hong Kong subsidiaries of Chinese asset managers apply for spot bitcoin ETFs

The Hong Kong subsidiaries of two China-based asset management firms have submitted applications to offer spot bitcoin exchange-traded funds in the administrative region. Harvest Fund and Southern Fund, both located in Hong Kong and each managing assets worth more than $200 billion, filed requests on Monday to offer the funds, Bitcoin Magazine reported, citing the state-owned Securities Times. Due to severe restrictions on cryptocurrency trading and mining, asset managers cannot offer ETFs in mainland China.

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2024-04-08 09:49:53 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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2024-04-07 22:54:54 Cathie Wood’s ARK Invest Accidentally Owns $15,000 Bitcoin Puppet

Cathie Wood has been one of the biggest proponents of Bitcoin. Interestingly, the investor’s financial company accidentally owns a Bitcoin Puppet. Arkham’s latest update revealed a fascinating twist involving the investment management firm’s inadvertent ownership of a Bitcoin Puppet valued at $15,000. The Bitcoin Puppet in question found its way into a custody wallet associated with their ARKB ETF, sparking curiosity about its origins.

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2024-04-07 10:09:54 Bitcoin ‘pretty unlikely’ to revisit $50K price level, says analyst

The frequency of Bitcoin reaching higher support price levels, as well as the “lack of immediate froth” in the derivatives markets, suggests that its price is unlikely to retrace down to $50,000 anytime soon, according to a crypto analyst. Senior analyst at digital asset fund UTXO Management, Dylan LeClair, explained in an analyst note on April 7 that if Bitcoin rises back into the $70,000–$75,000 price range, it will put significant pressure on short positions. “As we’ve consolidated, an increasing amount of short liquidations are building from 70-75k,” he stated.

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2024-04-06 20:44:55 BlackRock Adds Goldman Sachs, Citigroup, UBS as APs for Bitcoin ETF

BlackRock (BLK) has added five additional authorized participants (APs) to the iShares Bitcoin Trust (IBIT), bringing the total number to nine as the fund continues to attract billions of dollars from investors. The new APs include Wall Street banking giants Goldman Sachs, Citadel Securities, Citigroup and UBS as well as clearing house ABN AMRO, according to a prospectus filed with the U.S. Securities and Exchange Commission (SEC). They join Jane Street Capital, JP Morgan, Masquarie and Virtu Americas.

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2024-04-06 11:39:55 BlackRock names Citi, Citadel, Goldman Sachs as APs for its spot bitcoin ETF

BlackRock has revealed the names of four more Wall Street firms it's enlisting to buy bitcoin for its iShares Bitcoin Trust ETF. Citi, Goldman Sachs, UBS, and Citadel have joined JP Morgan and Jane Street as authorized participants for the world's largest asset manager's spot bitcoin ETF, according to an amendment filed with the Securities and Exchange Commission on Friday to the ETF's Form S-1.

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2024-04-05 21:09:55 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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