Cryptocurrency markets have seen a remarkable surge in early 2024, with over $12 billion injected into crypto investment products globally in the first quarter alone. This marks a significant increase in investor confidence and interest in digital assets, surpassing the total inflow recorded for the entirety of 2021.
Inflows into global crypto exchange-traded funds (ETFs) and exchange-traded products (ETPs) have reached nearly $1.8 billion this week, eclipsing the previous annual record. A substantial portion of these funds has flowed into newly launched spot Bitcoin ETFs in the United States.
The surge in investment activity underscores the growing mainstream acceptance of cryptocurrencies. It highlights the pivotal role of new financial products, particularly the US spot Bitcoin ETFs, in attracting significant capital to the sector.
Despite the positive trajectory, challenges persist, as evidenced by regulatory setbacks faced by some entities. The recent setback of the First Trust-SkyBridge’s BTC ETF Trust underscores the regulatory hurdles still present in the crypto ETF space.
Bitcoin's performance remains a focal point for investors, with the leading cryptocurrency trading slightly below $73,000. Despite a slight retracement, Bitcoin remains buoyant, showing a 1.2% increase in the past 24 hours and nearly 10% over the week.
While the cryptocurrency market continues to witness significant growth, regulatory challenges pose potential obstacles. Despite this, investor interest remains high, particularly with the spotlight on Bitcoin ETFs.
Trump supports moving Bitcoin mining production to the United States to increase the country's energy self-sufficiency, and stressed that this will resist the threat of central bank digital currencies.
ZeZhengThe US Consumer Price Index (CPI) data for May showed that the inflation rate remained at 0.3%, surpassing market expectations. However, on an annual basis, it decreased from 3.4% in the previous month to 3.3%. This cooling trend has sparked optimism in the market.
ZeZhengBitcoin advocates push Musk for BTC payments on X; Musk favors Dogecoin for its lower fees and scalability.
ZeZhengFollowing the deadly attack in Israel by Palestinian militant group Hamas, it has put cryptocurrency’s role in terrorist financing back in the spotlight. The U.S. Treasury Department recently announced its investigation on the $165 million in cryptocurrency which the agency believed to have helped Hamas before the militant group’s Oct 7 attack against Israel.
XingChiArthur Hayes criticizes G7 central banks, advocates for continued investment in Bitcoin and altcoins. Predicts potential rally fueled by FED's dollar-yen maneuvers and anticipates rate cuts. Encourages long positions, sees cryptocurrency market poised for resurgence.
Xu LinAs anticipation mounts for US Non-Farm Employment data, Bitcoin breaks records with $37B in futures open positions. Positive sentiment prevails as long positions dominate, driving expectations for new all-time highs.
Xu LinBitcoin surges above $71K as long-term investors and whales accumulate. Institutional interest via spot ETFs and new whales drive demand. Ethereum also sees increased investor interest.
Edmund'Rich Dad Poor Dad' author Robert Kiyosaki predicts Bitcoin will hit $350K by late August 2024, driven by his distrust of US leadership. Will this forecast crash and burn like some of his previous speculations?
KikyoBitcoin saw a slight increase in response to the ECB's rate cut. The ECB reduced rates to moderate monetary policy restriction, addressing inflation but not growth stagnation. The rate cut aims to lower borrowing costs in the euro area.
Xu LinBitcoin whales, owning over 40% of total BTC supply, continue accumulating, influencing market dynamics. Their buying spree amid high derivative positions indicates potential volatility ahead, despite current positive sentiment reflected in BTC's price.
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MiyukiThe specific allotment will be determined by the DAO through snapshot voting, subject to approval by counting votes. The proposed plan aims to distribute ARB to protocols within a 12-week timeframe, with any remaining funds slated to be returned to the DAO.
AlexThe company revealed that shareholders have until January 30 to sell their shares in the VanEck Bitcoin Strategy ETF (XBTF).
Alex