💰 Blackrock’s IBIT Nears Grayscale’s GBTC in Bitcoin Reserves

According to the latest statistics, U.S. spot bitcoin exchange-traded funds (ETFs) experienced ten consecutive days of positive inflows. Notably, during a third of those days, Grayscale’s Bitcoin Trust (GBTC) faced outflows and neutral activity. Conversely, Blackrock’s IBIT saw inflows on most of the ten trading days. During the past ten trading days, spot bitcoin ETFs accumulated over a billion U.S. dollars in net inflows, with each day showing a positive influx.

Source

https://t.me/Bitcoin_Magazine

💰 BlackRock’s IBIT continues to lead net inflows in spot bitcoin ETFs

Spot bitcoin exchange-traded funds in the U.S. recorded a total daily net inflow of $28.32 million on Wednesday. The funds continued to log their 12th consecutive day of inflows, marking the longest streak since the last week of February. The inflows were led by BlackRock’s IBIT, which drew in $24.5 million worth of funds according to data from SoSoValue. Grayscale’s GBTC saw net outflows of $31 million.

Source

https://t.me/Bitcoin_Magazine

💰 Bitcoin faces Mt Gox uncertainty while ether awaits ETF inflows, notes QCP Capital

Bitcoin's price may be hampered by uncertainty surrounding the potential Mt. Gox bitcoin supply hitting the market by October, QCP Capital's analysts said. However, according to the team's report on Thursday, this uncertainty could potentially benefit ether upon the launch of the spot ETH ETF. "With the market consolidating in the range and eagerly awaiting the ether spot ETF launch, accumulators continue to be attractive, allowing traders to consistently accumulate ether at a discount," QCP Capital analysts added.

Source

https://t.me/Bitcoin_Magazine

💰 Ark Invest’s spot bitcoin ETF logs record $100 million in daily net outflows

Spot bitcoin exchange-traded funds in the U.S. logged their 13th consecutive day of net inflows on Thursday, drawing in $48.71 million. Major movements of funds were spotted in two bitcoin funds from Fidelity and from Ark Invest and 21Shares yesterday. Fidelity’s FBTC led net inflows worth $119 million, while Ark’s ARKB saw nearly $100 million in net outflows, according to data from SoSoValue. ARKB’s Thursday outflow marked its largest since its debut in January.

Source

https://t.me/Bitcoin_Magazine

🪙 Mt. Gox Bitcoin Moves Will Cause No Immediate Selling Pressure: CryptoQuant

Analysts from the market intelligence platform CryptoQuant say the recent bitcoin (BTC) moves by the defunct crypto exchange Mt. Gox are no cause for alarm and would cause no immediate selling pressure on the digital asset. According to the latest weekly report from the analytics firm, the transfers were executed between Mt. Gox’s trustee addresses and are not a sign that creditor repayments have begun.

Source

https://t.me/Bitcoin_Magazine

💰 British-Chinese Woman Sentenced to 6 Years for Laundering Bitcoin in $6B Scam

In a high-profile case involving a massive cryptocurrency fraud, a British-Chinese woman, Jian Wen, has been sentenced to six years and eight months in prison for her role in laundering Bitcoin proceeds from a $6 billion investment scam in China. Wen, aged 42, was found guilty in March of laundering Bitcoin on behalf of her former boss, Yadi Zhang, whose real name is Zhimin Qian.

Source

https://t.me/Bitcoin_Magazine

💰 Bitcoin active addresses plummet to five-year low

Bitcoin’s active addresses have seen significant fluctuations recently. Following the April 2024 halving, the number of active addresses dropped to a three-year low, driven by a spike in transaction fees and network congestion. This fee increase, partly due to new protocols like Runes, has impacted Bitcoin’s utility for daily transactions, causing a notable decline in network activity.

Source

https://t.me/Bitcoin_Magazine

🪙 Analysts Bullish on Bitcoin: QCP Capital Foresees New All-Time Highs in June

Several analysts and researchers have a positive outlook on bitcoin’s prices for June. This week, QCP Capital observed that their trading desk witnessed a “strong bullish follow-through with significant call buying for June expiries.” This trend in the options market suggests a possible move past the $74,000 level. While ethereum is “lagging,” QCP anticipates it will soon catch up and “possibly even outperform against [bitcoin] when the [ethereum] spot [exchange-traded funds] begin trading.”

Source

https://t.me/Bitcoin_Magazine

💰 Bitcoin mining difficulty sees second negative adjustment following April halving

According to Newhedge, Bitcoin’s mining difficulty has decreased by -0.78%. This is the second negative adjustment in the last four, following the Bitcoin halving on April 20. The halving led to a delayed hash rate drawdown due to sustained high fees from Runes, which incentivized some miners to stay online.

Source

https://t.me/Bitcoin_Magazine

💰 Robert Kiyosaki Says His Prediction of Bitcoin Hitting $350K in August 'Is Not a Lie' — Also Bullish on Ethereum and Solana

Rich Dad Poor Dad author Robert Kiyosaki has emphasized that his prediction of bitcoin hitting $350K on Aug. 25 “is not a lie.” He also expressed his bullish outlook for ethereum and solana, noting that he will keep buying the three cryptocurrencies because he is “quite certain their prices will continue to rise.”

Source

https://t.me/Bitcoin_Magazine

💰 "The rapid movement of Bitcoin is lost for some people. They may have forgotten what it felt like in past bull runs where it went up massively."

- Samson Mow

https://t.me/Bitcoin_Magazine

💰 BlackRock's spot bitcoin ETF surpasses 300,000 BTC in assets under management

BlackRock’s IBIT spot Bitcoin exchange-traded fund crossed 300,000 ($21 billion) in assets under management on Thursday, five months after trading began on Jan. 11. BlackRock’s Bitcoin ETF has now accumulated 302,534 BTC, according to its fund page, with around 4,920 BTC in net inflows yesterday taking it over the milestone. GBTC originally operated as a private placement fund before transitioning to public trading on the OTC market in 2015 and its ultimate conversion to an ETF in January.

Source

https://t.me/Bitcoin_Magazine

💰 “Bitcoin is the most important thing happening in the world today.”

- Erik cason

https://t.me/Bitcoin_Magazine

💰 Mexican Billionaire Ricardo Salinas Doubles Down on Bitcoin, Advises Using It as Inflation Hedge

Ricardo Salinas, the third wealthiest man in Mexico, has recently doubled down on his proposal to use Bitcoin as a reserve asset. On social media, Salinas defended the role of Bitcoin as an inflation hedge, commenting on a post that presented inflation as a hidden tax on fiat money and advised his followers to purchase it.

Source

https://t.me/Bitcoin_Magazine

💰 Bitcoin open interest remains elevated as crypto market dips slightly

Bitcoin open interest has increased to over $1.5 billion while the price is trading down — a cause for concern, according to some crypto analysts. "Price flat, with OI up $1.5 billion. High-risk situation," Decentrader founder @filbfilb posted on X.com. The Decentrader founder also warned, "Can't remember such a situation in a long time. Survive." According to another X post by Byzantine General, "open interest is rising quickly again, almost back to the previous level where we got a sudden nuke."

Source

https://t.me/Bitcoin_Magazine

💰 Bitcoin Open Interest Reaches All-Time High Of $36.3 Billion

Bitcoin futures interest tapped an all-time high in US dollar terms on Monday, reaching over 500,000 BTC worth $36.3 billion. Analysts say the overwhelming surge in open interest relates to a clever arbitrage play levied by institutional traders between Bitcoin’s futures and spot markets. In a Tuesday newsletter, lead Glassnode analyst James Check theorized that leveraged funds are simultaneously shorting Bitcoin on the CME while buying up coins in equal measure via the Bitcoin spot ETFs.

Source

https://t.me/Bitcoin_Magazine