Another tumultuous week has passed, and Bitcoin has managed to regain some ground.

Institutional interest in Bitcoin remains strong, with more and more entities expressing interest in participating in the Bitcoin ETF market.
However, persistent selling pressure from Grayscale continues to temper market enthusiasm, resulting in a period of consolidation.

Nevertheless, it's crucial to keep in mind that GBTC will eventually reach its limit, leading to potential shifts in market dynamics.

In the latest CryptoBullets TL;DR issue, we'll introduce indicators that can assist you in navigating the crypto cycle and identify the top, empowering you to make better-informed decisions.

Enjoy your Sunday!

Thanks,
The Alchemic One (TAO)

Market Data for This Week

Monday
UK - BRC Retail Sales (MAR)
AU - NAB Business Confidence (MAR)

Tuesday
JP - Consumer Confidence (MAR)

Wednesday
US - CPI Inflation (MAR)
US - FOMC Meeting Minutes
CA - BOC Interest Rate Decision
CN - CPI Inflation (MAR)

Thursday
US - PPI Inflation (MAR)
EU - ECB Interest Rate Decision
CN - Balance of Trade (MAR)

Friday
UK - GDP (FEB)

Digital asset investment products

- Saw continued positive sentiment with inflows totalling $646M last week.

- Inflows year-to-date at $13.8Bn are at their highest ever level.

- Investors buying Bitcoin and gold may have similar motives but are different groups.

- Since the launch of the BTC ETFs; BTC ETFs have seen a net flow of over $13B, while gold ETFs have only $2B.

- Despite both assets reaching new all-time highs, Bitcoin's demand far surpasses that of gold.

- Central banks buy gold, but mainstream acceptance of Bitcoin is still evolving.

- There's a growing recognition for Bitcoin as digital gold, with substantial demand and little competition in that category.

Safety Note

There is news circulating regarding a security vulnerability in Telegram.

To be on the safe side > You can disable the auto-load feature in Telegram.

Whether this is true or not, you'll be on the safe side.

You can find the settings under Setting > Data & Storage

Stay safe!

Thanks,
The Alchemic One (TAO)

Bitcoin Spot ETF Flow - 8th Apr. 2024

- Net outflows for all the Bitcoin ETFs; -$223.8M

- Grayscale had -$303.3M outflows

EigenLayer and EigenDA Launch on Ethereum Mainnet.

Bitcoin Spot ETF Flow - 9th Apr. 2024

- Net outflows for all the Bitcoin ETFs; -$18.6M

- Grayscale had -$154.9M outflows

Hong Kong set to approve its first spot Bitcoin ETFs in April - Reuters

Bitcoin Spot ETF Flow - 10th Apr. 2024

- Net inflows for all the Bitcoin ETFs; +$123.7M

- Grayscale had a record low outflow of -$17.5M

Kraken set to delist Monero in Ireland and Belgium, convert remaining balances to Bitcoin.

Bitcoin Spot ETF Flow - 11th Apr. 2024

- Net inflows for all the Bitcoin ETFs; +$91.3M

- Grayscale had an outflow of -$124.9M

BlackRock’s spot Bitcoin ETF crosses $15 billion in total inflows.

Hong Kong Bitcoin, ETH approval expected as soon as Monday.