💰 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

💰 Bitcoin ETF outflows hit $200 million ahead of FOMC meeting

US spot Bitcoin exchange-traded funds (ETFs) experienced a second straight day of outflows for the second day this week after ending their 19-day inflow streak on June 10. Grayscale’s GBTC led the outflows with $121 million, raising its total outflows to $18.03 billion. Ark Invest’s ARKB followed with nearly $57 million in net outflows. Bitwise’s BITB reported approximately $12 million in outflows, while Fidelity and VanEck saw smaller net outflows of $7.4 million and $3.8 million, respectively.

Source

https://t.me/Bitcoin_Magazine

💰 Bitcoin’s liquid supply decreasing while illiquid confidence grows

Bitcoin’s liquid and illiquid supplies are very interesting and useful metrics for understanding market trends. Liquid supply refers to the amount of Bitcoin readily available for trading, meaning it is held in wallets that frequently engage in transactions. Highly liquid supply, a subset, denotes Bitcoin that moves even more frequently, often used by traders.

Source

https://t.me/Bitcoin_Magazine

💰 MicroStrategy issues $500M in convertible notes to buy more Bitcoin

MicroStrategy is set to offer $500 million in convertible senior notes due in 2032 to finance more Bitcoin acquisitions. This private offering targets qualified institutional buyers and seeks to bolster the company’s resources amid volatile market environments. As of June 13, MicroStrategy holds more than 1% of BTC’s circulating supply, equivalent to 214,400 BTC, valued at approximately $15 billion.

Source

https://t.me/Bitcoin_Magazine

💰 Traders: Bitcoin price needs “fresh all-time highs” to end pump-and-dump cycles

Bitcoin bears have been selling on every rally over the last few months, and analysts believe that a liquidity boost fueled by BTC’s “fresh all-time highs” will help break the cycle. “Market is in need of a big liquidity boost,” pseudonymous crypto trader Daan Crypto Trades wrote in a June 13 post on the X social media network. The trader’s sentiments appear to have been informed by Bitcoin’s “whipsaw” price action as it consolidates within a wide range, stretching from $66,500 to $72,000.

Source

https://t.me/Bitcoin_Magazine

💰 Brazil, Germany, and Turkey have seen a surge in Bitcoin searches, at times even surpassing the USA

https://t.me/Bitcoin_Magazine

💰 Bernstein analysts raise bitcoin price target to $200,000 by end of 2025

Analysts at research and brokerage firm Bernstein have raised their price target for bitcoin to $200,000 from $150,000 by the end of 2025. The target is driven by expectations of unpreceded demand via spot bitcoin exchange-traded funds run by some of the world’s leading asset managers, such as BlackRock, Fidelity and Franklin Templeton, reaching around $190 billion in assets under management compared to $60 billion today, Gautam Chhugani and Mahika Sapra wrote in a note to clients.

Source

https://t.me/Bitcoin_Magazine

💰 NiceHash and Marathon partner to launch new firmware for miners

NiceHash, a leading Bitcoin hashing power marketplace, has partnered with Marathon Digital Holdings to introduce new custom firmware for ASIC miners on its platform. The new product, NiceHash Firmware, will leverage Marathon’s technology to enhance the efficiency and revenue of Bitcoin miners using ASIC devices. Miners who adopt this firmware will benefit from a low fee of 2%, which drops to 1.4% if they use NiceHash as their primary mining pool.

Source

https://t.me/Bitcoin_Magazine

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