💰 Bitcoin ETFs experience first outflow since March 22 at $85.8 million

Data from BitMEX shows that the Bitcoin (BTC) exchange-traded funds (ETFs) saw a net outflow of $85.8 million, equivalent to 1,230.3 BTC, marking the first outflow since March 22. Grayscale’s GBTC continued to dominate the outflows, with $302.6 million, equivalent to 4,337.4 BTC, being withdrawn. GBTC has now seen a staggering $15,070.2 billion of outflows, equivalent to 288,274 BTC, according to BitMEX.

Source

https://t.me/Bitcoin_Magazine

💰 Silk Road Bitcoin Worth $2B Moved by U.S. Government: On-Chain Data

A wallet tagged as belonging to the U.S. government moved 30,175 bitcoins to what's reported to be a Coinbase wallet late Tuesday morning. At bitcoin's (BTC) current price around the $65,000 level, that would be roughly $2 billion worth of the token. The last confirmed sale by the government – which in late 2022 seized roughly 50,000 bitcoins related to the Silk Road website – was in March 2023 when it unloaded 9,861 coins for $216 million.

Source

https://t.me/Bitcoin_Magazine

💰 Cathie Wood’s ARK Bitcoin ETF Records Daily Outflows Surpassing Grayscale’s GBTC 📉

Cathie Wood’s ARK 21Shares Bitcoin exchange-traded fund (ETF) recorded net outflows exceeding $87 million on Tuesday, marking the highest outflow since its inception, as per data from Farside Investors. On April 2, Ark 21Shares Fund’s (ARKB) outflows amounted to $87.5 million, equivalent to roughly 1,300 BTC. This marked the second consecutive day of outflows for ARKB, with $300,000 on April 1, its first-ever day of being net negative. Grayscale, which has consistently experienced outflows since converting to a spot Bitcoin ETF, also recorded another negative day.

Source

https://t.me/Bitcoin_Magazine

💰 Bitcoin rose by 3,230% on average after each halving

According to the report, after each mining reward was halved, the Bitcoin (BTC) rate increased by an average of 3,230%. The first halving, dated Nov. 28, 2012, reduced the reward from 50 BTC to 25 BTC. Within 12 months of the halving, the asset’s value rose from $12 to $1,075. Over the year, the rate jumped by 8,858%. By January 2022, the inflation rate changed from 25.7% to 12%.

Source

https://t.me/Bitcoin_Magazine

💰 Binance set to end Bitcoin NFT support despite recent surge in interest

Crypto exchange Binance is set to end support for Bitcoin NFTs less than a year after they were introduced to its marketplace. Binance said in a blog post on Thursday it would not support any further airdrops, benefits, or utilities associated with Bitcoin NFTs after April 10, citing “ongoing efforts to streamline product offerings” on its NFT marketplace.

Source

https://t.me/Bitcoin_Magazine

💰 Bitcoin mining market cap eclipses $20 billion as industry continues growing amid challenges

Quick Take The Bitcoin mining industry has reached a significant milestone, surpassing a market capitalization of $20 billion, now standing at $20.6 billion, according to Farside data. This milestone emphasizes the growing significance of public miners within the Bitcoin ecosystem, contributing approximately 28% of the global hash rate.

Source

https://t.me/Bitcoin_Magazine

💰 BlackRock adds 5 new APs to spot Bitcoin ETF including Goldman Sachs, Citadel, Citigroup

BlackRock, the world’s largest asset manager, has today updated the list of Authorized Participants (APs) for its spot Bitcoin exchange-traded fund (ETF), IBIT. The ETF, which has been live since January 11, 2024, allows investors to gain exposure to Bitcoin without directly holding the digital assets. According to the latest prospectus, BlackRock has added five new Authorized Participants to the list, expanding the total number of APs from four to nine. The new additions include ABN AMRO Clearing USA LLC, Citadel Securities LLC, Citigroup Global Markets, Inc., Goldman Sachs & Co. LLC, and UBS Securities LLC.

Source

https://t.me/Bitcoin_Magazine

💰 Bitdeer Utilizes Chip Giant TSMC, Eyeing $60M in Bitcoin Mining Equipment Production

According to the publicly-listed mining corporation Bitdeer, the company is employing Taiwan Semiconductor Manufacturing Company (TSMC) for its Sealminer A1 mining rigs for the third quarter. Bitdeer also disclosed that it extracted 294 bitcoins in March, marking a 28.4% enhancement over March 2023’s earnings. Bitdeer stated that as of March 31, it had “committed orders for wafers” from TSMC, anticipating that the assembly of these rigs would generate $60 million from Sealminer A1 mining equipment.

Source

https://t.me/Bitcoin_Magazine

💰 Genesis Completes Redemption of GBTC Shares, Buys 32K Bitcoins with Proceeds

Bankrupt crypto lender Genesis has completed the sale of its Grayscale Bitcoin Trust (GBTC) shares and used the proceeds to purchase 32,041 bitcoins, according to court documents filed Friday. The sale of GBTC shares was completed on April 2, the documents show. On Feb. 15, Genesis received permission from a New York bankruptcy court to sell the nearly 36 million shares in GBTC, as well as additional shares in two Grayscale Ethereum trusts.

Source

https://t.me/Bitcoin_Magazine

💰 Paraguay’s proposed Bitcoin mining ban could cost it $200M a year

The Paraguayan economy could lose more than $200 million annually if the country’s lawmakers pass a recently introduced bill to ban crypto mining in the country. Lawmakers introduced the draft bill on April 4, claiming illegal cryptocurrency mines are stealing power and disrupting the country’s electricity supply. If passed, the ban would last 180 days or until new laws are enacted and the national power grid operator can ensure it can supply sufficient energy.

Source

https://t.me/Bitcoin_Magazine

💰 Bitcoin ETF activity to remain robust until the halving: Santiment

Spot Bitcoin exchange-traded fund (ETF) flows are likely to remain high until the Bitcoin halving later this month, according to on-chain analytics firm Santiment. The blockchain data firm observed that Bitcoin ETF volume hasn’t slowed since the asset hit an all-time high in mid-March, adding, “Trader activity is still notably higher than the turning point that began in late February after an influx of individual trading began” in a post on X on April 8.

Source

https://t.me/Bitcoin_Magazine

💰 BTC halving to fuel ‘raging firesale of crypto assets’ — Arthur Hayes

The Bitcoin halving this month, combined with a “bag of tricks” from the Federal Reserve and Treasury, will “add propellant to a raging firesale of crypto assets” and depress the crypto market for weeks, says BitMEX co-founder Arthur Hayes. In an April 8 blog post, Hayes wrote he believed the Bitcoin halving would “pump prices in the medium term” but warned crypto prices “directly before and after could be negative.”.

Source

https://t.me/Bitcoin_Magazine

💰 Ark Invest's ETF Holds Unique 'Bitcoin Puppet' NFT Worth Over $27,000

Several spot bitcoin ETFs boast inscriptions within their portfolios, and on Monday, the X account linked to Ord.io revealed that Ark Invest’s ARKB ETF includes a “Bitcoin Puppet” NFT among its assets. This collection consists of 10,001 unique digital puppets, with the base price for one currently standing at 0.39 BTC, or $27,913. The “Bitcoin Puppet” inscription in ARKB’s possession is numbered 53,159,523 out of a total of 67.99 million.

Source

https://t.me/Bitcoin_Magazine

💰 Spot bitcoin ETF cumulative trading volume crosses $200 billion

Cumulative trading volume for U.S. spot Bitcoin exchange-traded funds surpassed $200 billion on Tuesday, less than three months after the Securities and Exchange Commission approved ETFs from BlackRock, Fidelity, Bitwise and others. Spot Bitcoin ETF cumulative trading volume has nearly doubled in the last month alone — from when total volume first crossed the $100 billion mark on March 8 — to hit $201.7 billion by the close of trading yesterday, according to The Block’s data dashboard.

Source

https://t.me/Bitcoin_Magazine

💰 Bitcoin ETF battle heats up as BlackRock closes in on Grayscale

It has been three months since spot bitcoin ETFs began trading and BlackRock's fund appears to be on pace to usurp Grayscale's as the biggest of the crypto-based investment vehicles on offer. According to Trackinsight data compiled by The Block Data Dashboard, as of Tuesday, BlackRock's IBIT fund had $18.2 billion in assets under management compared to Grayscale's $23.2 billion. Grayscale's ETF started with nearly $30 billion in AUM as the firm's exchange-traded fund is a conversion of its flagship fund.

Source

https://t.me/Bitcoin_Magazine

💰 Bitcoin mining difficulty hits fresh all-time high in final pre-halving adjustment

Bitcoin mining difficulty rose 3.9% late Wednesday to hit a new all-time high in the final adjustment before the halving, estimated to occur on April 20. The difficulty adjustment came at block height 838,656, reaching a record of 86.39 trillion, according to blockchain explorer Mempool. Bitcoin miners appear to be ramping up their hash rate in preparation for block subsidy rewards dropping from 6.25 BTC to 3.125 BTC next week.

Source

https://t.me/Bitcoin_Magazine