🇺🇸 US 💰 Bitcoin ETFs see record outflows as 🇭🇰 Hong Kong counterparts thrive

According to the report, the market saw an outflow totaling $251 million, with the Newborn Nine spot Bitcoin ETFs accounting for over 60%, or $156 million, of these flows. A breakdown of the flows showed that Fidelity’s FBTC saw the highest outflow amount, with $131 million exiting the fund, followed by Ark 21 Shares’ ARKB, which saw outflows amounting to $84 million.

Source

https://t.me/Bitcoin_Magazine

💰 Bitcoin market 'improving' after hitting local low of $56,500: Standard Chartered

Standard Chartered has revised its short-term forecast for Bitcoin, predicting a rebound from a recent low of $56,500, a shift from last week's prediction that the cryptocurrency would dip into the $50,000-$52,000 range. "Things are improving and we have likely seen the low at $56,500 on 1 May," Standard Chartered Bank Head of FX Research and Digital Assets Research Geoff Kendrick said.

Source

https://t.me/Bitcoin_Magazine

💰 Bitcoin’s 280% surge from cycle lows mirrors previous bull cycles

Since bottoming out around $15,500 in November 2022, Bitcoin’s performance has been on a consistently upward trajectory. This growth culminated in new all-time highs in March 2024, marking a staggering 280% surge from its cycle low. However, the market has experienced several healthy corrections during this bullish trend. In March 2023, Bitcoin saw a 22% drawdown, followed by a 20% correction that lasted from April to June 2023.

Source

https://t.me/Bitcoin_Magazine

💰 Bitcoin Mining Difficulty Sees Largest Plunge Since December 2022

The last time Bitcoin witnessed a negative adjustment similar to the one it recorded today was 18 months ago when BTC was worth $17,000. The Bitcoin network’s mining difficulty has experienced its largest negative adjustment since December 2022, when the bear market was in full gear. According to data from the real-time Bitcoin dashboard Bitbo, the mining difficulty fell 5.7% to 83.1 trillion on Thursday at block height 842,688.

Source

https://t.me/Bitcoin_Magazine

🇺🇸 US Bancorp, Rothschild firm disclose spot 💰 Bitcoin ETF purchases of roughly $20 million in Q1

US Bancorp disclosed spot Bitcoin ETF investments worth over $15 million on May 8. The company revealed it purchased roughly 87,744 shares of Fidelity’s FBTC worth $5.4 million, 46,011 shares of Grayscale’s GBTC worth $2.9 million, and 178,567 shares of BlackRock’s IBIT worth $7.2 million. The company’s total investments stood at $71.8 billion, based on its latest 13F filing. US Bancorp is among the largest bank holding companies in the US, with over $663 billion in AUM at the end of 2023.

Source

https://t.me/Bitcoin_Magazine

💰 Bitcoin options traders bet price could surpass all-time high by end of June, analyst says

Based on recent options data from Binance, bitcoin open interest is concentrated at a strike price of $75,000 for the end-of-June expiry, an analyst said. According to Ruslan Lienkha, the chief of markets at Cyprus-based exchange YouHodler, the open interest concentration focuses on bitcoin's all-time high. Bitcoin reached its all-time high of over $73,000 in the middle of March, according to The Block's Price Page.

Source

https://t.me/Bitcoin_Magazine

💰 Jack Dorsey Says Bitcoin Price Will Go Beyond $1 Million in 2030

Former Twitter CEO and now founder and backer of several crypto projects, Jack Dorsey, believes that bitcoin (BTC) will go as high as $1 million by 2030. When asked about a price prediction for bitcoin in an interview with Pirate Wires, Dorsey said, “I don’t know. Over… at least a million. I do think it hits that number and goes beyond.” While the price of the cryptocurrency is interesting, he said, it’s the ecosystem and movement that fascinates Dorsey.

Source

https://t.me/Bitcoin_Magazine

💰 Bitcoin Miner Cleanspark’s Net Income Tops $126.7 Million in 'Record-Breaking' Quarter

In the first quarter of 2024, Cleanspark, a U.S. bitcoin mining company listed on the stock market, reported revenues exceeding $111.8 million. The company’s net income for the same period was $126.7 million. Gary A. Vecchiarelli, the CFO of Cleanspark, partially attributes the company’s “record-breaking” performance to the surge in bitcoin prices.

Source

https://t.me/Bitcoin_Magazine

💰 Bitcoin ETFs Holding Now Accounts For 4.5% Of The Total Bitcoin Supply

According to data from HODL15Capital, as of May 10, Bitcoin exchange-traded funds (ETFs) worldwide collectively held 949,756 Bitcoins. The Bitcoin ETFs holding is constituting 4.5% of the total Bitcoin supply. U.S.-based spot Bitcoin ETFs acquired 1,318 Bitcoins throughout the week, with GBTC experiencing outflows. Glassnode highlighted that Bitcoin reached a pivotal phase three months ahead of Ethereum, with the news surrounding ETFs significantly impacting this acceleration.

Source

https://t.me/Bitcoin_Magazine

💰 Bitcoin Miner Marathon In Talks With Kenya to Help With Its Green Energy Ambitions

Marathon Digital (MARA), one of the largest bitcoin mining companies, has held talks with Kenya to help manage the country's renewable energy through mining and develop its crypto regime. Kenya's President William Ruto recently met up with the Marathon's team during an American Chamber of Commerce event hosted in Kenya.

Source

https://t.me/Bitcoin_Magazine

💰 Bitcoin Runes Protocol Sees Traction Waning After Much-Hyped Introduction

Activity on the Bitcoin Runes protocol has slowed over the past week, a sign it has failed to generate meaningful traction among users despite a stellar start last month. Runes takes the Ordinals protocol a step further by making transactions even cheaper and faster. Ordinals are a way to embed data into the Bitcoin blockchain by inscribing references to digital art into small Bitcoin-based transactions.

Source

https://t.me/Bitcoin_Magazine

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💰 Daily spot bitcoin ETF inflows top $100 million as ARKB overpowers GBTC

Spot bitcoin exchange-traded funds in the United States returned to a daily net inflow of over $100 million yesterday as inflows into the ARK 21 Shares Bitcoin ETF (ARKB) overpowered the usual outflows from the Grayscale Bitcoin Trust. According to data from SoSo Value, approximately $133 million flowed into ARKB, bringing its cumulative net inflow to $2 billion. Conversely, GBTC witnessed another $51 million flow out of the product, bringing its cumulative net outflows to $18 billion.

Source

https://t.me/Bitcoin_Magazine

💰 Morgan Stanley reveals $270 million investment in Bitcoin ETFs, making it top GBTC holder

Morgan Stanley revealed a $269.9 million investment in spot Bitcoin ETFs via Grayscale’s GBTC in its first quarter 13F disclosure. Based on Fintel data, the investment makes it one of the largest holders of GBTC, following Susquehanna International Group’s leading $1.0 billion investment. Morgan Stanley is also one of many Global Systemically Important Banks (G-SIBs) that have disclosed investments in spot Bitcoin ETFs, alongside the Royal Bank of Canada, JP Morgan Chase, Wells Fargo, BNP Paribas, and UBS.

Source

https://t.me/Bitcoin_Magazine

🪙 Bitcoin ETF Flows Surge to Two-Week High as BTC Soared Beyond $66,000

Inflows for spot Bitcoin ETFs in the United States soared to $303 million on May 15 amid a big jump in BTC prices. It is the highest inflow since May 3 as institutional investors pivoted back to bullish in the wake of the US Consumer Price Index (CPI) data on May 15 which met expectations. Fidelity led the pack with its FBTC fund seeing $131 million in inflows for the day, its highest inflow since March 26. Bitwise’s BITB fund also had a solid day with an inflow of $86 million, a figure not beaten since March 4.

Source

https://t.me/Bitcoin_Magazine

💰 JPMorgan revises bitcoin production cost estimate to $45,000

JPMorgan has revised its central estimate of bitcoin production cost to $45,000 from the previous $42,000 projection amid a shift in bitcoin mining hashrate. This appears to be happening, albeit with some delay," JPMorgan analysts led by Nikolaos Panigirtzoglou wrote in a report on Thursday. "The current hashrate and power consumption put our central estimate of the bitcoin production cost to around $45,000, i.e., well below current prices" of around $65,000, the analysts added.

Source

https://t.me/Bitcoin_Magazine

💰 Morgan Stanley Latest Bank to Disclose Spot Bitcoin ETF Holdings for Clients

Morgan Stanley was the owner of $269.9 million of Grayscale’s Bitcoin Trust (GBTC) as of March 31, a 13F filing showed. It is important to note that these purchases don't necessarily represent the banks' views on the direction of bitcoin's price, but instead were likely either made on behalf of the banks' wealth management clients or necessary for market making and/or ETF authorized participant duties.

Source

https://t.me/Bitcoin_Magazine

💰 Blackrock Bitcoin ETF Attracts 414 Institutional Holders — Analyst Says IBIT 'Blows Away Record'

Blackrock’s spot bitcoin exchange-traded fund (ETF), the Ishares Bitcoin Trust (IBIT), has amassed 414 insitutional holders in less than three months, according to filings with the U.S. Securities and Exchange Commission (SEC). A senior Bloomberg analyst described this achievement as “mind-boggling” and “highly rare” for new ETFs. Other recently launched ETFs have significantly fewer institutional holders.

Source

https://t.me/Bitcoin_Magazine