GBTC, the largest Bitcoin trust globally, continues to face outflows, with $110.1 million exiting the fund on April 15, a decrease from $166.2 million on April 14.
On Monday, the Bitcoin Fear and Greed Index went up from 72 to 74, moving into the Extreme Greed zone. This could mean a drop, but BTC spot ETF market flow data will be very important for figuring out short-term trends.
The crypto market has regained traction following the approval of the ETFs in Hong Kong.
BlackRock has started heavy advertising for its IBIT Bitcoin ETF on Bloomberg’s home page to leverage its position in the current market momentum.
21,000 Bitcoin options are set to expire having a notional value of $1.5 billion and a put call ratio of 0.62. The max pain point for the expiry currently stands at $69,000.
Referencing the recent dismissal of the SEC claim against the Coinbase Wallet, Paul Grewal reiterated that the SEC can’t claim Uniswap is a broker.
Grayscale CEO is confident of more investors adopting Bitcoin ETF especially after the US SEC approves Grayscale Bitcoin Mini Trust with lower sponsor fees.
With Bitcoin halving 2024 around the corner, investors remain bullish on Bitcoin despite high inflation numbers. Analysts note that Bitcoin is gaining strong reputation as a hedge against inflation.
Bitcoin halving 2024 is less than 11 days away from happening amid heightened demand from institutional investors from all over the world.
While it is not certain if the drop in the price of Bitcoin is caused by reduced investors’ appetite for spot ETFs, the decline is substantial as it marks a 6% reduction from its all-time high of its $73,628.
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