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Crypto-News-Flash
1w
380
Image Credit: Crypto-News-Flash
Why Did BlackRock Offload $254M in Bitcoin on Coinbase? Key Insights
- BlackRock's iShares Bitcoin Trust (IBIT) experienced a substantial outflow of $332.6 million, marking the largest single-day withdrawal since its inception.
- Despite the outflows, Bitcoin remains strong above $82,000, indicating resilience in the face of global economic pressures.
- BlackRock's move may reflect routine portfolio rebalancing or profit-taking rather than a lack of confidence in Bitcoin or the ETF's strategy.
- While IBIT experienced outflows, other Bitcoin ETFs, such as Fidelity and Bitwise, recorded inflows on the same day.
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Coin Telegraph
1w
278
Image Credit: Coin Telegraph
3 reasons why Ethereum price keeps falling
- Ether (ETH) is experiencing a sell-off and may witness a deeper correction before recovery as it dropped below the crucial $1,500 support level.
- The weak flows in spot Ethereum ETFs indicate a lack of investor interest, particularly institutional demand.
- Low open interest and negative funding rates in Ether's derivatives market suggest waning investor confidence.
- Competing layer-1 blockchains, such as BNB Chain, Solana, Avalanche, and Tron, are outpacing Ethereum in network activity.
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Newsbtc
1w
126
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Bitcoin Battles Tariff Turmoil: Can the 2-Year Realized Price Hold the Line?
- Bitcoin has paused its bull run, experiencing little to no upward momentum as a result of global tariff tensions.
- Recent analysis suggests that Bitcoin's spot price is approaching its 2-Year Realized Price, which has historically served as a support level.
- Maintaining price action above the 2-year Realized Price may indicate investor confidence, establishing a new value floor for Bitcoin.
- A recent significant long liquidation event in the Bitcoin derivatives market has heightened market volatility.
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NullTX
1w
355
Image Credit: NullTX
Bitcoin Sees Massive Withdrawals Amid Market Panic as Mining Operations Hit Hard
- Bitcoin experienced significant withdrawals from exchanges, amounting to over $220 million, amidst market panic and a price drop to a five-month low.
- The surge in withdrawals suggests a shift in investor sentiment towards Bitcoin, with many moving assets off exchanges as a precautionary measure.
- Bitcoin miners are facing challenges as mining rigs like Avalon A1466 and Antminer S19 XP Hyd. are nearing shutdown thresholds due to unprofitability.
- The decline in Bitcoin's price has led to substantial losses for miners, as operating costs outweigh revenue generated from mining.
- The market volatility is straining mining operations, prompting some to consider scaling back or optimizing energy usage to mitigate costs.
- The increase in withdrawals and miners' financial struggles raise concerns about the reliability and stability of the Bitcoin network.
- The potential hash rate decrease from miners shutting down could lead to slower transaction speeds and higher fees in the Bitcoin network.
- A sustained bear market could further exacerbate financial pressures on miners, potentially triggering more shutdowns and price declines for Bitcoin.
- Investors are using the price dip as an opportunity to accumulate more Bitcoin, while miners are grappling with the profitability challenges of current market conditions.
- Amid these developments, the cryptocurrency ecosystem is facing a multifaceted scenario with implications for exchanges, miners, and the overall network.
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Coin Telegraph
1w
89
Image Credit: Coin Telegraph
Magic Eden acquires crypto trading app Slingshot to move beyond NFTs
- Solana NFT marketplace Magic Eden has acquired crypto trading app Slingshot to expand beyond NFTs.
- Magic Eden will now support over 8 million tokens across major blockchains.
- The acquisition aligns with Magic Eden's vision to provide the best platform to trade all assets on all chains.
- As other NFT marketplaces close amid a market downturn, Magic Eden aims to attract more users away from centralized exchanges.
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Crypto-News-Flash
1w
346
Image Credit: Crypto-News-Flash
Crypto in Focus as China and EU Announce Retaliatory Tariffs on the US
- Global trade tensions, particularly tariffs imposed by China and the EU, contribute to increased volatility in traditional and crypto markets, affecting Bitcoin and Ethereum.
- China and the EU impose retaliatory tariffs on U.S. goods, raising concerns about potential downturns in digital asset valuations, particularly Bitcoin.
- The announcement of tariffs leads to a sharp decline in global financial markets, including significant drops in U.S. stock futures and European markets.
- The future trajectory of cryptocurrencies remains uncertain, with predictions ranging from increased investment and price boosts to further declines.
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TronWeekly
1w
13
Trump’s 90-Day Tariff Pause Sparks Surge in Cryptocurrency and Stock Markets
- The United States issued a 90-day pause on reciprocal trade restrictions under President Donald Trump, excluding China and boosting Bitcoin and stock markets.
- Bitcoin jumped over 5.6%, Ethereum rose 6.1% after Trump's tariff pause announcement.
- U.S. stock markets soared, with Dow gaining 2,000 points following Trump's tariff relief.
- Trump's tariff pause for most international trade sectors calmed trade conflict concerns and strengthened investor optimism.
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Newsbtc
1w
346
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Bitcoin Ownership Patterns Shift Amid Price Correction
- Bitcoin is trading at $76,899, down 3.7% in 24 hours and 29.4% from the all-time high.
- On-chain analysis shows short-term holders experiencing significant losses while long-term holders accumulate.
- This transfer of coins from weaker to stronger hands is often observed near market bottoms or early recovery stages.
- The shift in ownership patterns may impact Bitcoin's market structure and provide support for price stabilization or a trend reversal.
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Livebitcoinnews
1w
295
Image Credit: Livebitcoinnews
Kaspersky Uncovers Crypto Theft Malware on SourceForge
- Kaspersky researchers have uncovered crypto theft malware on SourceForge, an open-source software platform.
- Sophisticated malware like ClipBanker and TookPS is distributed through pirated software on SourceForge.
- The malware lures users with promises of free Microsoft Office software while secretly stealing their cryptocurrency.
- Kaspersky advises users to avoid downloading pirated software and utilize trusted sources to protect their digital wallets and personal information.
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Bitcoinsensus
1w
202
Image Credit: Bitcoinsensus
April 9’s Big Winners – The Altcoins Crushing the Market Right Now
- Altcoins experienced significant gains on April 9, with some seeing increases as high as 55% in a single day.
- Pendle ($PENDLE) surged 24.60% within a day and has gained 40% since April 7, despite prior market pressure.
- Flare ($FLR) reversed its weekly losses with a 31.98% increase, reaching a market capitalization of $924 million.
- Fartcoin ($FARTCOIN) saw a massive surge of 55% in value within a day and gained 77% over the week, currently with a market capitalization of $750 million.
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Pymnts
1w
411
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Cryptocurrencies and Crypto-Related Stocks Rise After Trump Pauses Tariffs
- Cryptocurrencies and crypto-related stocks surge after President Donald Trump pauses tariffs.
- Bitcoin's price rises 7.6% to surpass $80,000 mark. Several other tokens also see gains of 14% to 23%.
- Crypto exchange Coinbase Global, Galaxy Digital, and six bitcoin miners among the stocks that rise.
- Trump authorizes a 90-day pause in tariffs for 75 countries, but raises tariff on China to 125%.
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Bitcoinist
1w
80
Image Credit: Bitcoinist
XRP To Flip Bitcoin This Cycle? Analyst Points To Major Bounce
- XRP price has the potential to flip Bitcoin's market cap during this bull cycle, according to a crypto analyst.
- The recent breakdown in Bitcoin dominance is seen as a catalyst for altcoin season, including XRP.
- The analyst predicts that XRP will overtake Bitcoin in market capitalization around September, with fresh all-time highs in sight.
- Macroeconomic factors and geopolitical catalysts are expected to fuel XRP's growth, including speculation around Trump's second Presidency and the rise of Tether stablecoin.
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Bitcoinsensus
1w
131
Image Credit: Bitcoinsensus
Paul Atkins Confirmed as SEC Chair What It Means for Crypto Regulation
- Paul Atkins confirmed as SEC Chair in a 52-44 vote replacing Acting Chair Mark Uyeda
- Atkins expected to prioritize regulatory clarity for crypto firms and accelerate ETF approvals
- SEC’s April 11 Crypto Task Force Roundtable will outline Atkins’ approach to digital asset regulation
- Atkins is known for a 'crypto-friendly' stance and will work towards creating clearer guidelines for the industry
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Coin Telegraph
1w
0
Image Credit: Coin Telegraph
21Shares files for spot Dogecoin ETF in the US
- Digital asset manager 21Shares has filed with the US Securities and Exchange Commission to launch a spot Dogecoin exchange-traded fund.
- The proposed 21Shares Dogecoin ETF would track the price of the meme-based cryptocurrency Dogecoin (DOGE), with support from the Dogecoin Foundation's corporate arm, House of Doge.
- Coinbase Custody is expected to serve as the custodian of the fund, while details regarding the fee, ticker symbol, and stock exchange listing are yet to be specified.
- 21Shares has also partnered with House of Doge to launch a fully backed Dogecoin exchange-traded product on Switzerland's SIX Swiss Exchange, trading under the ticker 'DOGE' with a 2.5% fee.
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Bitcoinist
1w
169
Image Credit: Bitcoinist
Selling Bitcoin To Cover Debt? Michael Saylor’s Strategy Flashes Warning
- Software company Strategy, led by Michael Saylor, may have to sell some Bitcoin holdings to meet financial obligations.
- Strategy expects to report a potential loss of $6 billion for Q1 2025 despite holding over 528,000 BTC purchased at about $67,450 per coin.
- The company faces significant debt, interest payments of approximately $35 million per year, and the need to distribute $150 million in annual dividends.
- To address cash flow issues, Strategy plans to raise $2.1 billion by selling perpetual preferred stock with an 8% dividend.
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