"You can't wait for inspiration. You have to go after it with a club."
-Jack London
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Happy Monday Folks! Bitcoin is trading at $62,355 down from over the weekend at $63,964 and down from $65,904 a week ago. As long as Bitcoin can remain above $60K I believe we will see higher before lower but no matter what keep some dry powder if it does go lower. Will we see folks sell in May and go away?
CURRENT NEWS
The news is anemic today as Bitcoin ETFs begin trading in Hong Kong tomorrow and BTC drew a slight premium in Japanese markets as the yen swung wildly in holiday-thinned trading. Crypto market outflow hits $435 million as Bitcoin ETF volume recedes. However, Morgan Stanley has filed with the U.S. Securities and Exchange Commission (SEC) to get Bitcoin ETF exposure for 12 of its funds; so that will change things a bit.
Ethereum smashes major milestone of 1 Million validators as Tron Founder Justin Sun accumulates over $559,000,000 in $ETH amid Crypto correction. Crypto on track to hit 1 billion users by end of 2025. SEC has been investigating ETH for over a year, new court filing shows.(3)
Bitcoin Runes fees surpass 1,200 BTC as miners reap rewards post-halving.
USDC surpasses USDT with $455.51 billion in weekly transactions and leads 2024 with 50% of total stablecoin transactions; Stripe chooses USDC, reflecting growing mainstream adoption. Tether buys $200M majority stake in brain-computer interface company Blackrock Neurotech.(3)
WATCH
LISTEN
Podcasts of the Day: $3 Trillion in Stablecoins by 2030 | Jeremy Allaire, USDC Founder | Bankless
TIME MACHINE
A month ago, UK had frozen $7.6M worth of Craig Wright's (Faketoshi) assets.(5)
A few weeks, Bitcoin mining companies had increased their selling activity but were still facing challenges like lower transaction fees and increasing mining competition.(2)
A couple weeks ago, nothing worth reporting really happened other than the price being down.
Last week, Bitcoin’s block reward slashed by 50% following 2024 halving.(4) ViaBTC has not only mined Bitcoin’s fourth halving block, but it has also mined the fourth ever “epic sat”. Bitcoin barely bobbles after halving hovering around $63K,(3) but Runes Protocol launches on Bitcoin, sending fees soaring as users rush to mint tokens; record $2.4M in fees on halving block.(3)
Over the Weekend, DTCC rules out collateral for Bitcoin-linked ETFs and this notice means that exchange-traded funds and similar investment instruments with Bitcoin or other cryptocurrencies as underlying assets will not be assigned any collateral value.(2)
