Bitcoin Magazine

2024-04-30 20:04:58 US spot bitcoin ETF outflows continue with $51.5 million more exiting

Spot bitcoin exchange-traded funds in the United States saw more than $51.5 million in net outflows yesterday. Notably, the Grayscale Bitcoin Trust was not the biggest culprit. The ARK 21Shares Bitcoin ETF saw $31.34 million leave the product on April 29, while GBTC experienced $24.66 million in net outflows, per data from SoSoValue. The Fidelity Wise Origin Bitcoin Fund also saw a net outflow of $6.85 million.

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2024-04-30 10:01:10 Small Bitcoin holders are accumulating even as prices fall

Bitcoin prices fluctuated dramatically over the past month, a fascinating trend emerged among different Bitcoin holder categories. Analysis of Glassnode's latest data reveals that while larger entities were reducing their holdings, possibly due to profit-taking or reaction to market changes, smaller entities did just the opposite. The balance for entities holding between 0.01 - 0.1 BTC saw the most notable increase.

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2024-04-29 19:15:24 Bitcoin Could Fall to $50K in ‘Correction Mode,’ Says Analyst

Bitcoin prices are in retreat again during Asian trading on Monday morning and analysts are predicting more pain ahead as the correction deepens. Bitcoin has fallen back to more than 15% down from its mid-March peak, dropping to a ten-day low of under $62,000 on Monday morning. On April 28, an analyst feed ‘Stockmoney Lizards’ noted that the halving was over, but bitcoin continues to print red candles.

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2024-04-29 09:30:30 Transaction Fees Plunge to 35% of Bitcoin Miner Revenue Post-Halving: CryptoQuant

Transaction fees have fallen from $80 million on the halving day to $6 million as of April 26. The portion of Bitcoin miner revenue coming from transaction fees has fallen significantly after surging on the day of the last halving event. A CryptoQuant report revealed that transaction fees now represent 35% of total miner revenue, a significant decline from the 75% recorded on April 19.

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2024-04-28 07:30:17 The greatest Bitcoin explanation of all time.

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2024-04-27 21:29:59 DTCC rules out collateral for Bitcoin-linked ETFs

The Depository Trust and Clearing Corporation (DTCC) — a financial services company that provides clearing and settlement services for the financial markets — stated that it will not allocate any collateral to exchange-traded funds (ETFs) with exposure to Bitcoin or cryptocurrencies and will not extend loans against them.

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2024-04-27 08:49:59 Runes generate over $135 million in fees in first week on Bitcoin network

The Runes token standard was recently launched on the Bitcoin network and has generated over 2129 bitcoin ($135 million) in transaction fees within its first week. Runes utilizes Bitcoin’s UTXO model and the OP_RETURN opcode to offer a more efficient tokenization solution for the network than the BRC20 standard (based on the Ordinals protocols). It allows users to mint tokens on top of Bitcoin, which are generally memecoins.

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2024-04-26 09:50:19 ViaBTC's 'epic sat' from fourth Bitcoin halving block sells for 33.3 BTC ($2.13 million)

An "epic sat"—an exceptionally rare satoshi, the smallest unit of bitcoin, from Bitcoin's fourth halving block—sold for over $2 million. This milestone not only signifies Bitcoin's fourth halving but also includes a block identified as an epic 'Rare Satoshi' by the Ordinals numbering system," CoinEx Global wrote on the satoshi's auction page, adding on social media, "This auction isn't just a bidding event; it marked the community recognition, media attention and widespread embrace of Bitcoin."

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2024-04-25 18:32:27 BREAKING: The EU reportedly prohibits use of anonymous hosted Bitcoin wallets and cash payments > €10,000

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2024-04-25 11:05:20 Spot Bitcoin, Ether ETFs Get Official Approval in Hong Kong; 'Potential Fee War' Unfolding, Says Analyst

Hong Kong’s market regulator has officially approved the first batch of crypto-related spot exchange-traded funds (ETFs), a first for the city and a move that could establish it as Asia’s leading digital-asset hub and unleash further growth in the sector. The funds could start trading on April 30, Bloomberg Intelligence analyst Eric Balchunas said Wednesday, adding that the management fees are lower on average than previously expected.

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