Outflows Hit Spot Bitcoin ETFs Spot Bitcoin ETFs have seen a sharp decline in demand this month, with significant outflows recorded on April 26. Grayscale’s Bitcoin Trust (GBTC) led the outflows, with investors withdrawing $139.4 million. Other funds, including Ark Invest, Valkyrie, and Bitwise, also saw notable outflows. Sell-Offs Pressure Bitcoin Price The outflows have…
Key Price Levels for Profit-Taking Crypto analyst Crypto Noan has shared a strategy for taking profits on Shiba Inu (SHIB) investments. Here are the target prices he recommends: First Target: $0.000028181 Second Target: $0.000032816 Third Target: $0.000039035 Fourth Target: $0.000043609 The first and second targets have already been reached earlier this year. The third and…
Investments in Grayscale and BlackRock The Bank of New York Mellon (BNY Mellon), the oldest bank in the US, has invested in Bitcoin Exchange Traded Funds (ETFs). According to SEC filings, BNY Mellon has purchased: 3 shares of Grayscale’s Bitcoin Trust (GBTC) for $166 7,105 shares of GBTC for $448,823 1 share of BlackRock’s IShares…
Strict Deadline for SEC Response In the ongoing legal battle between Ripple and the SEC, Judge Sarah Netburn has ordered the SEC to respond to Ripple’s motion to strike by Monday, April 29, 2024. Ripple has three business days to file a response. Background Ripple filed a motion to strike the SEC’s expert materials, arguing…
Crypto Adoption Soars in Canada Institutional investors in Canada are increasingly embracing cryptocurrencies. A recent survey by KPMG and CAASA reveals that 39% of surveyed institutions now invest in crypto, up from 31% in 2021. Portfolio Allocations One-third of participating institutions have allocated at least 10% of their portfolios to crypto, indicating growing confidence in…
Analyst Raoul Pal Predicts Altcoin Boom Former Goldman Sachs executive Raoul Pal believes the altcoin market is poised for a major rally, potentially entering “crypto summer” within a month. Altcoins Poised for ‘Banana Zone’ Pal predicts that altcoins, excluding Ethereum, will hit an all-time high market cap, entering the “banana zone” where prices soar. Ethereum…
Spot crypto exchange-traded funds (ETFs) are expected to launch in Hong Kong next week, according to Reuters. Bitcoin and Ethereum ETFs Three asset managers, China Asset Management, Harvest Fund Management, and Bosera Asset Management, have received regulatory approval from the Securities and Futures Commission (SFC) to offer Bitcoin (BTC) and Ethereum (ETH) ETFs. Trading is…
Crypto Whales on a Buying Spree New Bitcoin whales are accumulating BTC at a remarkable pace, nearly doubling the holdings of long-term whales, according to Ki Young Ju, CEO of CryptoQuant. Defining Whales Ju defines new whales as addresses holding at least 1,000 Bitcoin with an average coin age of less than 155 days, while…
Crypto trader Michaël van de Poppe believes Bitcoin’s dominance has reached its peak. This suggests that altcoins may soon gain momentum. Ethereum ETF Impact Financial giants like Blackrock and Grayscale are awaiting SEC approval for a spot Ethereum ETF. If approved, it could boost ETH’s price and potentially spill over to altcoins. Negative Altcoin Sentiment…
The rollercoaster ride of Bitcoin continues, with a recent crash from its record high of over $73,000. This has sparked a wave of pessimism, leading many traders to bet against the cryptocurrency. However, these “bears” could be in for a rude awakening if Bitcoin rebounds. Bears Risk Losing $7.2 Billion Crypto analyst Ash Crypto shared…
