Bitcoin Magazine

2024-03-27 20:44:59 Spot bitcoin ETFs break five-day outflow streak

After five consecutive days of outflows, spot bitcoin exchange-traded funds (ETFs) experienced a total net inflow yesterday. The net inflow into spot bitcoin ETFs on Monday totaled $15.7 million, according to data from SoSo Value. This follows consecutive single-day outflows of as much as $326.2 million, which occurred on March 19, per The Block's data.

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2024-03-25 19:35:00 "Bitcoin is the Apex Property of the Human Race."

- Michael Saylor

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2024-03-24 23:05:00 Bitcoin’s 15% Correction Propelled by Profit-Taking but Bull Cycle Is Far From Over: CryptoQuant

Bitcoin (BTC) had entered a period of price correction following its ascent to an all-time high of $73,700. Miners, whales, and other market participants, including large investors, had begun selling their BTC to make profits. However, analysts at CryptoQuant believe the Bitcoin bull cycle is far from over, as price valuation metrics are largely shy from levels seen in past market tops.

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2024-03-24 08:08:19 “I see a rotation out of the $150 Trillion of stocks and bonds, into Bitcoin, alongside money market funds…and that gets Bitcoin to $300K.”

- Nik Bhatia

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2024-03-23 21:09:56 Bitcoin ETF demand could rise as prices drop, crypto analyst suggests

Amid Bitcoin’s price decline, the spot Bitcoin ETF market has been gloomy recently. Despite these persistent declining net flows, Ki Young Ju, a prominent analyst and CEO at CryptoQuant, has predicted a possible resurgence in the spot Bitcoin ETF market. Using data from the historical netflow trends, the analyst noted that demand for Bitcoin ETFs usually kicks in when the cryptocurrency traces to certain support levels.

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2024-03-23 12:19:57 Cathie Wood doubles down on $1.5 million Bitcoin as institutional exposure looms

Ark Invest CEO Cathie Wood said Bitcoin could be worth more than $1.5 million per coin if institutions allocate roughly 5% of their portfolios to the digital asset. The firm’s revised outlook, suggesting a potential surge in Bitcoin’s price beyond the $1.5 million mark, aligns with broader expectations for its integration into the global financial system. With major financial institutions yet to fully embrace Bitcoin, Wood anticipates further upward momentum in its value.

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2024-03-22 23:09:57 Bitcoin Slips to $64K as Large Grayscale GBTC Outflows Continue

Volatility in crypto markets continued Friday, with bitcoin (BTC) tumbling below $63,000 at one point from the $67,000 area just hours earlier. A modest rebound since has taken the price back to the current $64,000, down 3.7% over the past 24 hours. The sell-off rippled through the market, with the broad CoinDesk 20 Index was lower by 4.4% over the same time frame, led by layer-1 network Solana's token (SOL) declining more than 10% at one point.

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2024-03-22 08:29:58 Bitfinex CTO Paolo Ardoino talks Bitcoin price, ecosystem and scaling

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2024-03-21 21:28:58 Bernstein raises year-end bitcoin price target to $90,000, expects ‘mild’ halving impact on miners

Analysts at research and brokerage firm Bernstein have raised their year-end price target for bitcoin to $90,000 from $80,000 amid improved market dynamics. Ultimately, the analysts expect bitcoin to target $150,000 as the 2024-2025 cycle high, with Bitcoin’s upcoming halving event having less impact on miners than in previous years.

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2024-03-21 08:39:58 First back-to-back net outflows for Bitcoin ETFs since late January due to $443 million GBTC outflow

Bitcoin ETFs saw a second day of outflows on March 19, the first instances of back-to-back outflows since Jan 25. Net outflows totaled $362 million, with Grayscale accounting for all outflows at $443 million. Most funds saw no net movement, with BlackRock, Fidelity, and Bitwise seeing inflows, according to Bitmex Research. BlackRock recorded just $75 million, Fidelity $39 million, and Bitwise $2.5 million in inflows on a rare poor performance day for the record-breaking Newborn Nine.

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