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Top Performing Assets (24 Hours): $BNB 12.92% | $AVAX 12.12% | $SOL 1.90%
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Guess what day it is Folks? HUMPDAY! Bitcoin is trading up at $73,418 after touching the all-time high at $73.6K. The question of the day is when does Bitcoin pull back and how much will it pull back. The halving is now about 4 weeks away.
CURRENT NEWS
Today, Bitcoin nails new all-time high at $73.6K(2) as ETFs continue to eat away at supply; retail HODLers sees massive increase with 277K new accounts. Bitcoin ETFs break another record with $1B inflows in a single day.(2) Tim Draper predicts that El Salvador will become rich and innovative thanks to Bitcoin. Jamie Dimon says he will never buy Bitcoin. Coinbase is raising $1B with convertible notes to pay off other convertible notes.(5) Drake is all about the Bitcoin like MicroStrategy.
Dencun goes live(2) and Ethereum fees are falling; Solana price continues to rise.
For your entertainment ... "We Call Them The Poor" Lil Bubble
MID-DAY
Bitcoin is in "price discovery mode" and where the top is no one knows. Demand for BTC futures soars to $35 billion, but option markets show no signs of excessive optimism. Bitcoin ETFs will appear on major brokerage platform, which manages between $7 trillion and $10 trillion in assets in the next few months and options based on ETFs will be available by September; this will bring an explosion of demand. Also who have been buying the ETFs? That will be revealed on May 15. New data reveals that asset management titan BlackRock has brought in over $10 billion into its spot market Bitcoin (BTC) exchange-traded fund (ETF) since it launched in January. Spot Bitcoin ETFs could see $220B of inflows in next 3 years: JMP Securities.
Bitcoin’s ‘up only’ rally creating around 1500 crypto millionaires daily. Payments company Block today dropped its self-custodial Bitcoin wallet, Bitkey.(3)
WATCH
LISTEN
Podcasts of the Day: The Case for $1 Million Bitcoin with Samson Mow | WBD
TIME MACHINE
A month ago, Peter Thiel's Founders Fund invested $200M in Bitcoin and Ethereum demonstrating confidence in crypto and Bitcoin crossed $1T in market cap for the second time in history and it remains still above that. Now Bitcoin along is pushing $1.3T and the entire MarketCap is at $2.5T. A few weeks ago, Ethereum continued its strong run, pushing higher above $3K(5) and today it's nearing $4K. A couple weeks ago, the Spot Bitcoin ETFs had accumulated over 300K $BTC as net inflows rose to $6B(8) and it's was all about price as Bitcoin surges past $59K with retail still asleep, it reached $60K and FOMO kicked in; the market hit extreme greed!(3) Last week, the Group of Nine Bitcoin Spot ETFs inflows reached $562M (with $10B trading volume) and the night before we learned that MicroStrategy is preparing to buy $600M more in Bitcoin; they've increased to $700M and Bitcoin had a 10x improvement over Gold says Anthony Pompliano. Yesterday, Bitcoin whales "increasingly cashed out," but the number of new “millionaire” wallets for Bitcoin (BTC) has risen to about 1,500 daily after the cryptocurrency’s price surged to $72,000 recently. However, this increase is modest compared to the daily creation of new millionaires during the previous bull market.(2)
Top Performing Assets Last Week (24 Hours): $ETH 3.02% | $BNB 1.68% | $BTC -0.08%
Top Performing Assets Couple Weeks Ago (24 Hours): $BTC 4.46% | $XRP 4.27% | $BNB 3.84%
