Bitcoin Magazine

2024-05-07 19:54:58 US Bitcoin ETFs see record outflows as Hong Kong counterparts thrive

According to the report, the market saw an outflow totaling $251 million, with the Newborn Nine spot Bitcoin ETFs accounting for over 60%, or $156 million, of these flows. A breakdown of the flows showed that Fidelity’s FBTC saw the highest outflow amount, with $131 million exiting the fund, followed by Ark 21 Shares’ ARKB, which saw outflows amounting to $84 million.

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2024-05-07 09:30:58 “I will be buying the top forever and Bitcoin is the Exit Strategy.”

- Michael Saylor

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2024-05-06 19:35:23 Bernstein’s Bitcoin Price Prediction of $150K Reaffirmed by Analysts

Analysts at investment research firm Bernstein have reaffirmed their prediction that bitcoin (BTC) would hit $150,000 in this bull cycle despite the asset’s retracement in recent weeks. According to a recent report, Bernstein analysts Gautam Chhugani and Mahika Sapra said Bitcoin metrics show the network is in a healthy cycle still in its early stages. Notwithstanding the latest dip, the leading cryptocurrency is far from done.

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2024-05-05 21:20:28 Jack Dorsey's Block Will Reinvest 10% of Bitcoin Profits Into BTC

Block, formerly known as Square, Inc, detailed a months-long plan during its earnings call Thursday to buy Bitcoin with 10% of its gross profits from Bitcoin-related products and services. “In April, Block implemented a Bitcoin dollar cost average (DCA) purchase program that will run through 2024,” the company said in a blog post. “Under the program, Block will be investing 10% of its gross profit from Bitcoin products into Bitcoin purchases.”.

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2024-05-05 08:50:15 Former Bitmex Chief Expects Bitcoin to Trade Within $60K-$70K Range Until August

Former Bitmex CEO Arthur Hayes predicts bitcoin will range-bound trade between $60,000 and $70,000 until August. “The slow addition of billions of dollars of liquidity each month will dampen negative price movement from here on out,” Hayes said, adding that he expects “prices to bottom, chop, and begin a slow grind higher.”

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2024-05-04 19:15:34 Grayscale's GBTC spot bitcoin ETF sees $63 million of inflows, ending 78-day outflow streak

Grayscale’s GBTC spot bitcoin exchange-traded fund witnessed its first-ever (since it was converted) daily net inflows on Friday, ending a 78-day run of consecutive outflows. GBTC’s cumulative outflows since the U.S. spot bitcoin ETFs began trading on Jan. 11 totaled more than $17.5 billion by May 2, but the higher-fee fund suddenly generated $63 million worth of inflows on Friday, according to data from Farside Investors and CoinGlass.

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2024-05-03 19:45:27 Hong Kong’s spot ETFs experience decline in bitcoin inflows on second trading day

The three spot bitcoin exchange-traded funds in Hong Kong saw inflows of 174.73 BTC ($10.3 million) on the second trading day yesterday, compared to an inflow of 3,910 BTC ($240 million) on the first trading day. The trading volume stood at over $9.7 million on both days, according to SoSoValue data. The caveat with the inflow data is that ETF shares bought via in-kind subscriptions of physical Bitcoin do not generate cash inflows denominated in dollar terms, so they are not included in daily net inflow statistics, SoSoValue clarified.

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2024-05-03 12:20:58 Tectum team showcases instant #Bitcoin payments using SoftNote. Mass Adoption is already here! Time to buy $TET
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2024-05-03 07:45:13 Standard Chartered Warns Bitcoin Price Could Fall to $50K

Standard Chartered Bank has warned that bitcoin’s price could potentially decline to $50,000. The head of digital asset research at the bank attributed this forecast to a mix of crypto-specific factors and broader macroeconomic influences. Additionally, he warned about the risk of liquidation for some spot exchange-traded fund (ETF) positions, emphasizing that over half of them are currently underwater.

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2024-05-02 18:31:25 Former PayPal President David Marcus says Bitcoin is “going to be the native currency of AI”

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