VanEck’s spot Bitcoin exchange-traded fund (ETF) experienced significant growth in the first quarter of 2024. According to VanEck Bitcoin Trust’s recent filing with the Securities and Exchange Commission (SEC), the HODL Bitcoin ETF saw an increase of $109 million in net asset for the first fiscal quarter of 2024, which concluded on March 31. Bitcoin...
Technical analyst Rekt Capital suggests that Bitcoin has emerged from the post-halving “danger zone” and entered an accumulation phase, as indicated by weakening selling pressure. After previous halving events, Bitcoin typically experienced increased volatility, which came to be known as the “danger zone.” In the current cycle, Bitcoin’s price dropped by a mild 6.5% over...
Bitcoin price prediction is a hot topic as two mysterious whales, inactive for over a decade, have suddenly moved 1,000 BTC, worth about $60.9 million, within the past 20 minutes. This unexpected activity has intrigued market analysts and traders, prompting speculation about potential market impacts and future price movements. Two Mysterious Whales Start Transferring Funds...
The hash rate of the Bitcoin network has experienced a significant decline as mining firms are shutting down unprofitable mining rigs following the fourth Bitcoin halving. Data from blockchain.com reveals that the hash rate dropped to its lowest level in over two months, reaching 575 exahash per second (EH/s) on May 10. It has since...
One of the largest pension funds in the United States disclosed on Tuesday a $162 million allocation to the nation’s leading Bitcoin spot ETF products launched earlier this year. Per a 13F filing with the Securities and Exchange Commission (SEC), the State of Wisconsin Investment Board (SWIB) held $99 million in the iShares Bitcoin Trust...
Bitcoin is currently trading at $61,500, with a 24-hour trading volume of $28.28 billion. The cryptocurrency has dropped about 2.25% in the past day. Ranked first on Cryptonews, Bitcoin boasts a market cap of $1.21 trillion, with a circulating supply of 19,698,325 BTC and a maximum supply of 21,000,000 BTC. The U.S. Spot Bitcoin ETF...
A recent influx of investor disclosures has Bitwise, one of the United States’ leading Bitcoin ETF providers, “incredibly bullish” on BTC. The Top Institutional Bitcoin ETF Owners In a recent memo, Bitwise CIO Matt Hougan reviewed some of the newly uncovered Bitcoin ETF buyers, who have revealed their allocations as part of mandatory 13F filings...
El Salvador, which became the first nation to use Bitcoin (BTC) as legal tender, could easily hold 5,750 Bitcoins, per “Bitcoin Office” report. The national Bitcoin Office is a government entity aimed at managing all projects related to the cryptocurrency. Per a Reuters report, the nation mined nearly 474 Bitcoins since 2021 using geothermal power...
On Wednesday, Bitcoin traded at $61,949, up 0.65%, as the Federal Reserve’s hawkish stance on interest rates impacted its price outlook. Concerns over inflation and higher interest rates have dampened investor sentiment toward cryptocurrencies. The recent US Producer Price Index (PPI) report, which met expectations, reinforced the anticipation of prolonged high interest rates. The upcoming...
Michael Novogratz, the founder of Galaxy Digital Holdings, a prominent digital-asset financial services firm, expects Bitcoin to remain in a relatively narrow trading range in the current quarter. During a conference call following the release of Galaxy Digital’s first-quarter results, Novogratz expressed his belief that the crypto market is currently in a consolidation phase. He...