"All change is not growth, as all movement is not forward."
–Ellen Glasgow
Powered by Wubits - better than X because it's real people, real connections, and real conversations.
READ
Welcome to Thursday Folks! Bitcoin is trading at $70,484 which is up from $68,912 yesterday and up from $66,400 a week ago. Halving day is fast approaching, will it be a buy the rumor, sell the news events? Most believe it's already priced in.
CURRENT NEWS
Today, the upcoming Bitcoin halving will reduce miner rewards from 6.25 BTC to 3.125 BTC, decreasing Bitcoin's inflation rate from 1.7% to 0.85% annually and historically, Bitcoin halvings have led to short-term volatility but long-term bullish trends, with a diminishing percentage increase in price post-halving; the long-term outlook for Bitcoin remains bullish, driven by reduced supply, continued institutional interest, and increased accumulation by crypto whales. Bitcoin mining difficulty sets new high of 86T pre-halving and Paraguay will reconsider Bitcoin mining ban, mulls selling energy to miners.
The CEO of investment management firm VanEck says spot Bitcoin ETFs have mainly attracted capital inflows from retail investors in the four months since their launch. Grayscale GBTC records lowest daily net outflow as BTC price rises.(4) Major Wall Street institutions like Park Avenue Securities and Inscription Capital bought into spot bitcoin ETFs in Q1, according to just-released SEC 13F filings.
Bitcoin development is increasing and Yat Siu, the founder of a $5.9 billion venture capital firm, outlined a novel path toward a nine-figure bitcoin price.
Ether spot ETFs still have no more than 50% chance of approval in May according to JPMorgan.
MID-DAY
Bitcoin derivatives metrics suggest $70K is here to stay and Ethereum price weakens against Bitcoin.
WATCH
LISTEN
Podcasts of the Day: #497: Bitcoin Will Power Up The Future Of Finance with Andrew Hohns | TFTC
TIME MACHINE
A month ago, Arizona lawmakers cited rapid growth of the Spot Bitcoin ETFs as a reason to add them to retirement portfolios(3) and Bitcoin hit yet another high, tapping $73.8K and beware of Bitcoin's 'rising wedge,' says Josh Olszewicz which tends to be bearish but if a pull back does happen it will prob be short lived.
A few weeks ago, BlackRock launched a digital fund with $100 million on Ethereum, hinting at Real-World Assets (RWA) focus(3) and J-Pow decided to leave rates unchanged and that apparently sparked a rally which has since cooled off this morning.
A couple weeks ago, KuCoin got charged for "multibillion-dollar criminal conspiracy"(8) and the overwhelming demand for Bitcoin spot ETFs over the past two months is likely to continue for many years, predicts Bitwise CIO Matt Hougan; Inflows could eclipse $1T.(6)
Last week, Bitcoin dropped to $64.5K and data reveals strong confidence and potential buying opportunities amid Bitcoin dip as the 2024 halving could usher in a new era for Bitcoin and Ripple is going to launch a Stablecoin on Ethereum.(7)
