Day: April 16, 2024

BlackRock’s Bitcoin ETF draws $73m amid sluggish market

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BlackRock’s Bitcoin ETF was the only spot Bitcoin fund in the United States to record inflows on Monday, setting it apart from other ETFs that reported no inflows or experienced outflows. According to data from Farside Investors, the iShares Bitcoin Trust (IBIT) recorded net inflows of $73.4 million on April 15, albeit a decrease from the $111.1 million observed the previous day. This contrasted sharply with the other eight ETFs, which, aside from Grayscale’s offering, reported no inflows during the same period. The inflows into IBIT were unable to counterbalance…

Experts: Nigeria’s Binance Crackdown Shakes Investor Confidence

The Nigerian government’s crackdown on cryptocurrency exchanges, including its targeting of Binance, has prompted some cryptocurrency firms to reconsider plans to either enter or further invest in the West African nation. A founder of a cryptocurrency exchange stated that the crackdown on Binance raises questions about the fundamental rule of law necessary for any society […] Source CryptoX Portal

Why is crypto down today? Bitcoin sheds 4.3% in 24 hour trading

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Bitcoin (BTC) has declined by 4.3% over the past 24 hours, resulting in a widespread collapse across the broader crypto market, as investors exit the market at breakeven on the back of the recent recovery push. The cryptocurrency market is witnessing a sharp decline following the latest rebound that saw multiple assets record double-digit gains. Bitcoin reclaimed the $66,000 price territory on April 15, with the global crypto market cap surging to $2.384 trillion. BTC price – April 16 | Source: Trading View However, following the $66,867 high yesterday, BTC…

This Exchange Altcoin Is a ‘Dark Horse’ Crypto Play Amid Good Market Structure, Says Trader

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A closely followed crypto analyst and trader is turning bullish on the native asset of a layer-1 blockchain. Pseudonymous analyst Loma tells his 303,500 followers on the social media platform X that BNB, the native asset of the BNB Chain, is displaying strength from both the technical and fundamental viewpoints. “I think [BNB] is a live dark horse for majors. Structurally looks good in both USD and BTC pairing. Negative funding since it’s typically hedged against spot holdings for fee reductions by larger whales. Free of SEC (U.S. Securities and…

stc Bahrain and Aleph Zero Partner to Advance Blockchain DePIN Across the Gulf Region – Blockchain News, Opinion, TV and Jobs

Manama, Bahrain, April 16th, 2024, Chainwire By joining forces with Aleph Zero, stc Bahrain aims to leverage cutting-edge solutions to enhance privacy, security, and decentralization in the digital realm. Remote Blockchain Education – Blockchain Partners stc Bahrain, a world-class digital enabler, has announced its partnership with Aleph Zero, a privacy-enhancing Layer 1 blockchain, as part of its Web3 Launchpad program. This collaboration underpins stc Bahrain’s commitment to fostering the growth and development of blockchain technologies across the Gulf region. Backed by stc’s Web3 Launchpad Program, this collaboration will enhance Aleph Zero’s network…

Losses Trump Profits As Ratio Dips Below 1

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Investors are bracing themselves for a rollercoaster ride as Bitcoin, the flagship digital asset, navigates through choppy waters. Recent data from Glassnode has revealed a noteworthy development: the Realized Profit/Loss Ratio for Bitcoin has dipped below one. This crucial metric, which compares the sell value of Bitcoin with the price at which it was bought, indicates that investors are currently realizing more losses than profits. Historically, such a dip has often heralded a potential bottoming out of Bitcoin’s price, serving as a vital signal for market watchers. Sense Of Optimism…