12 Apr: Hong Kong BTC ETF Coming

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It's Frriiddaayyy Folks! Bitcoin is trading at $70,835 up from yesterday at $70,484 and up from $66,516 a week ago. Option expire today which should bring some volatility. 


Today, over $1.5 billion worth of Bitcoin futures options are set to expire today, signaling potential downside price volatility that could see Bitcoin fall to the $69,000 mark. BTC price did inch from new surge at $71K — Bitcoin Pi Cycle Top metric while $1.5B BTC options expire today which might lead Bitcoin back to ATH and Bitcoin eyes $100,000 milestone as it decouples from traditional markets, says Santiment’s Brian Quinlivan. Bitcoin is struggling to reclaim $70,000 level, but Blockstream's Adam Back actually thinks that the top cryptocurrency is 'super cheap' at current prices.

According to Arkham, the U.S. government holds 212,847 BTC, while the treasuries of the U.K. and Germany hold 61,245 BTC and 49,858 BTC, respectively. Bitcoin returns “too significant to ignore” for world’s retirement plans.

Hong Kong-listed Bitcoin ETFs could unlock up to $25B in demand, says Crypto firm Matrixport and Hong Kong's Securities and Futures Commission (SFC) is set to approve spot ETFs that invest directly in Bitcoin and Ethereum as of Monday.(3) BlackRock's Bitcoin ETF records $192 Million worth of inflows as its bitcoin fund accounts for 20% of the firm’s Q1 ETF net inflows.(2)

El Salvador’s newest Hilton hotel to tap into tokenized debt on Bitcoin. Bitcoin Mining Firm CEO Fred Thiel the halving will have ‘some small impact on prices probably.’

Technical charts suggest a roaring altseason may be just ahead. Ethereum’s Pectra upgrade to make normal wallets ‘smart’ and improve UX; lost private keys a thing of the past.(2) The Solana (SOL) blockchain might be getting past its worst congestion as Anza, one of its validator clients, has released a major fix on the devnet. TON Foundation teams up with HashKey to drive Crypto on-ramping in Telegram.

Mike Schmidt, co-founder of the Bitcoin non-profit Brink, revealed through an email that the FBI issued a subpoena demanding the personal information of attendees at the CoreDev Atlanta event, which took place just before TABConf in 2022.



Podcast of the Day: Rising Liquidity Is Fueling A Bull Market In Gold & Bitcoin (Part 2/2) | Lyn Alden & Luke Gromen | OTM


A month ago, 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. Also, Bitcoin may had fallen to its lowest levels in over a week, but BTC price optimism was anything but fading. Bitcoin fell below $67,000 as Grayscale moved over $400M in BTC to Coinbase and ETF inflows dropped by 80% in 24 hours(2); was $74K a cycle top and will this lead to a 20% correction? Will it go down to $45K - some believe it's possible.

A few weeks ago, Brian Armstrong was getting a lot of press for defending the $ETH ETF so let's see where this goes(4) and based on on-chain data, a Bitcoin whale that has been accumulating on Bitcoin's dip has made a significant purchase, acquiring 673 BTC.

A couple weeks ago, 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(5) and they entered the race for Ethereum Spot ETF.(2) 

Last week, Ethereum could still avoid being labeled a security; bullish on the ETF approval, says JP Morgan(4) and USDe is already backed by Ether, Ether-based liquid staking tokens and Tether, but Ethena says Bitcoin will provide more “safe” and “robust” product for USDe token holders.(4)

Yesterday, Grayscale GBTC records lowest daily net outflow as BTC price rises.(4)


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The Crypto Curator
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