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.
The upcoming Bitcoin halving 2024 scheduled for a later date this month is said to have injected substantial investments into the market, supporting overall sentiment
Bitcoin price has been consolidating in the past few weeks after reaching a new all-time high of around $74k.
The first quarter of 2024 has marked a significant turning point for the crypto industry, with venture capital (VC) investments witnessing a substantial rebound, breaking a two-year downtrend.
In the first quarter of 2024, the digital frontier witnessed an escalation in cybersecurity incidents, with the blockchain and cryptocurrency sectors at the epicenter of this digital turbulence.
According to Forbes’ 2024 World Billionaires List, crypto has made more billionaires this year than it did in 2023.
“Notcoin” Game Token wraps up its “mining phase” and prepares for the NOT token launch on April 20 amid the Bitcoin halving hype. The popular clicker game attracted 35 million players and offering pre-market trading via NFT vouchers.
In an unprecedented shift in the Bitcoin ETF market, Cathie Wood’s ARK 21Shares Bitcoin ETF (ARKB) experienced a record outflow of $87.5 million on April 2, surpassing Grayscale’s Bitcoin Trust (GBTC) for the first time.
Solareum has decided to shut down the Telegram trading bot after the exploit as it cannot refund affected users because of a lack of funds.
Historically, past Bitcoin halving events have proved to be bullish for the Bitcoin price, with analysts expecting a rally to $200,000.
Despite the uncertainty regarding Ethereum ETFs, the overall projection for Bitcoin is favorable.
Major institutional investors, such as BlackRock and ARK 21Shares, have invested $323 million and $200 million, respectively, signaling their confidence in BTC Exchange-Traded Funds (ETFs)
Hashoni cautioned that the high buying activity from large wallets could potentially lead to a pullback, as whales require sell pressure to accumulate more Bitcoin.
The Bitcoin market is expected to continue to grow and mature as more investors look for exposure to BTC through spot ETFs and other investment vehicles.