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#BREAKING : #JPMorgan , Largest Bank in the US, Announces It Owns Bitcoin Spot ETF Holdings JPMorgan, the largest bank in the United States, has disclosed ownership of approximately $1 million worth of Bitcoin Spot ETF shares, as revealed in a filing with the SEC. This disclosure is notable given the bank's CEO, Jamie Dimon, has previously voiced strong anti-Bitcoin sentiments. Dimon has expressed skepticism towards Bitcoin, labeling it a "ponzi scheme" and "a scam with no future as a currency." He has consistently cautioned investors against involvement with the volatile digital asset. However, the recent revelation indicates a disconnect between the CEO's personal opinions and the bank's investment strategies. Despite Dimon's public stance on cryptocurrency, JPMorgan Chase is actively participating in #BlackRock 's spot #BitcoinETF as an authorized participant. *This information is not intended as investment advice. Source - en.bitcoinsistemi.com #BinanceSquareBTC

#BREAKING : #JPMorgan , Largest Bank in the US, Announces It Owns Bitcoin Spot ETF Holdings

JPMorgan, the largest bank in the United States, has disclosed ownership of approximately $1 million worth of Bitcoin Spot ETF shares, as revealed in a filing with the SEC.

This disclosure is notable given the bank's CEO, Jamie Dimon, has previously voiced strong anti-Bitcoin sentiments.

Dimon has expressed skepticism towards Bitcoin, labeling it a "ponzi scheme" and "a scam with no future as a currency." He has consistently cautioned investors against involvement with the volatile digital asset.

However, the recent revelation indicates a disconnect between the CEO's personal opinions and the bank's investment strategies. Despite Dimon's public stance on cryptocurrency, JPMorgan Chase is actively participating in #BlackRock 's spot #BitcoinETF as an authorized participant.

*This information is not intended as investment advice.

Source - en.bitcoinsistemi.com

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#bitcoin Down 20% From March But Glassnode Analysts Are Very Bullish: Here’s Why Bitcoin has experienced one of its deepest corrections since the FTX crash in November 2022, with a drop of over 20% from its all-time high of approximately $74,000. Despite this downturn, Glassnode analysts, in their latest insights, maintain a cautiously optimistic stance. Glassnode highlights that the Bitcoin "macro uptrend still appears to be one of the more resilient in history," noting that corrections, while present, have been relatively shallow. The #Blockchain analytics platform indicates that liquidity has increased, contributing to a reduction in volatility. However, for bullish momentum to gather, fundamental factors will likely need to serve as triggers. While price action structure may offer support, historical evidence suggests that market events are key catalysts. The robust macro trend, according to Glassnode, has led to decreased volatility, thereby supporting the uptrend. The platform also observes that the diminishing depth of corrections signals a maturing market with growing institutional involvement. Meanwhile, on-chain data reveals that a whale has capitalized on the recent price dip to accumulate coins. Over the past week alone, this #whale has acquired over 100 BTC, bringing their total purchases for the month to more than 7,257 BTC. Such aggressive accumulation implies that, even at current multi-year highs, Bitcoin may be undervalued. Bitcoin could receive significant boosts from several upcoming events. Former US president #donaldtrump now accepts #cryptocurrency donations for his campaign, a reversal from his earlier stance. European regulators are considering approving Bitcoin for UCITS funds, potentially unlocking billions in investments. Major banks like Morgan Stanley and BNP Paribas are already exploring Bitcoin investment options for their clients. Source - newsbtc.com
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💥💥💥 #Solana⁩ (SOL) Ready for $160, #Ethereum ($ETH ) Performance Raises Questions, Will #cardano ($ADA ) Break This Resistance? Solana is displaying indications of gearing up for a potential breakthrough above the $160 price mark, with the 50-day EMA serving as a key resistance level. Historically, this EMA has acted as a robust barrier or support level, depending on market direction. For Solana, surpassing this mark could signify strong bullish sentiment and potentially lead to higher price levels. However, the journey towards breaking this resistance is challenged by descending trading volume, which may suggest a lack of conviction in the market's direction. Traders may be cautious and waiting for more definitive signs before committing to larger positions. Thus, Solana's approach to $160 might require a significant catalyst or market event to boost confidence and trading activity. Another aspect to monitor is the potential breakthrough of the "neckline" around $160, a crucial level in chart patterns like head and shoulders or inverse head and shoulders. A decisive close above this level could validate bullish predictions and trigger a new wave of buying interest. Ethereum struggles to surpass the 100-day EMA, signaling challenges in establishing an uptrend. Trading below $3,100, Ethereum faces significant risks to its valuation. A sustained position below the 100 EMA indicates bearish sentiment and may lead to a test of the 50 EMA, typically indicating a short-term trend. Cardano faces strong resistance at $0.46, persisting as a formidable barrier amid repeated attempts to breach it. Yet, rising trading volume suggests renewed trader interest as ADA nears this critical level. Additionally, the RSI approaching neutrality hints at a potential shift from bearish to bullish sentiment, supporting the possibility of strengthening upward momentum. A successful breach of the $0.46 resistance for Cardano could pave the way for further gains, while failure to do so may lead to consolidation or a retreat to lower support levels. Source - u.today
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🔥🔥🔥 #cardano To Reach $9.86 If it Touches #Ethereum Market Cap Despite the significant decline in Cardano's price, analysts continue to hold optimistic price targets for ADA, aiming for a substantial increase in its market valuation. Amidst these projections, we examined the extent to which Cardano's price would need to surge to match the market capitalization of a #cryptocurrency like Ethereum ($ETH ). According to data from a market analytics tool, ETH currently boasts a market cap of $348.6 billion, positioning it as the second-largest crypto asset after Bitcoin, which holds a valuation of $1.198 trillion. Ethereum's market cap also played a role in the recent market downturn, as the asset dipped below the critical $3,000 psychological support level. At its current valuation, Ethereum's market cap is approximately 21.97 times higher than that of Cardano. To reach a market cap of $348.6 billion, Cardano's price would need to soar to $9.86, marking a significant increase & establishing a new all-time high. This calculation takes into account Cardano's relatively stable circulating supply of over 35 billion ADA tokens. Can Cardano Achieve $9.98? - While a price of $9.86 may seem ambitious to many, some market analysts have recently presented forecasts in this range. Analyst Ali Martinez suggested on May 3 that Cardano could potentially surge to a price of $9.90, citing historical patterns from previous bull runs. - Additionally, The Crypto Basic recently highlighted several market observers who have projected Cardano's price to approach the $10 threshold across various timeframes, including the crypto YouTube channel Altcoin Daily & renowned crypto chartist Lucid. - However, other analysts anticipate a slightly lower price for Cardano, but the overall sentiment remains bullish. For instance, analyst Jake Gagain forecasted in March that ADA could reach $7.50 next year. Chris O'Connor, founder of Cardano Ghost, suggested that ADA might reach anywhere from $6.66 to $7.77 depending on its trajectory during the current cycle. Source - thecryptobasic.com
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🚀🚀🚀 Bull rally incoming as #Ethereum #whale 🐳🐳🐳stacks over $32M in $ETH since May Monitoring the activities of 'whales'—those investors holding substantial amounts of #cryptocurrency —provides invaluable insights for traders and investors navigating the intricate landscape of the cryptocurrency market. These whales, with their considerable capitalization and track record of profitable trading, often wield significant influence over market trends and liquidity. A notable Ethereum (ETH) whale recently made headlines by accumulating 10,758 ETH, valued at approximately $32.14 million, through transactions on Binance since May 2. This strategic accumulation follows Ethereum's nearly 20% decline in value over the past 30 days, although it maintains a trading position slightly above the $3,000 level, marking an approximate 30% increase year-to-date. Analysts and investors are closely monitoring these whale movements, searching for indications of a potential market rebound. However, formidable resistance around the $3,200 mark and ongoing market challenges suggest that any substantial rally may still be on the horizon. Despite these challenges, optimism persists among many crypto analysts, including prominent figure Crypto Tony, who offered a bullish outlook with a target price of $2,700 for Ethereum. His analysis aligns with the strategic moves of this whale, signaling positive sentiment among well-informed market participants regarding Ethereum's price trajectory. The recent activities of this Ethereum whale underscore the sophisticated utilization of decentralized finance to exert significant influence over market positions. As Ethereum continues to serve as a cornerstone of the expanding DeFi ecosystem, strategic investments by major players are poised to shape its valuation and future market dynamics. Source - finbold.com
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👉👉👉 #Bitcoin’s Ordinals, Runes key to solving the #Mining subsidy problem: ViaBTC With each Bitcoin halving event, miners receive reduced block subsidies, but ViaBTC remains optimistic about the future, believing that innovative Bitcoin applications will fill this gap, aligning with #satoshiNakamoto 's vision. ViaBTC emphasizes transaction fees from applications like Ordinals, Runes, and BRC-20s for miners' sustainability during halving events. Before the launch of Ordinals in January 2023, miners relied on peer-to-peer transaction fees & block subsidies. However, halving block subsidies every 210,000 blocks affects miners' long-term revenue. ViaBTC anticipates that network activity & utility will compensate miners adequately, driven by ongoing development at the application layer, despite mining revenue potentially increasing with Bitcoin's price surge. This was evident when ViaBTC mined block 840,000 on April 20, receiving a record-setting 37.6 BTC transaction fee alongside the new 3.125 BTC block subsidy. This transaction fee resulted from enthusiasts competing to inscribe "rare satoshis" and tokens using the new Runes token standard launched at the halving block. ViaBTC was surprised by the substantial reward at the halving block, expecting transaction fees to surpass significant thresholds eventually. Despite this, Bitcoin miners earned $78.3 million on halving day, outpacing Ethereum stakers & Uniswap liquidity providers in fee earnings on nine out of the last 20 days post-halving, per Crypto Fees. Satoshi Nakamoto predicted transaction fees would become miners' main income source as block subsidies decrease. ViaBTC agrees, citing advancements in Ordinals, Runes, and BRC-20s. Yet, popularity fluctuations of these protocols cause revenue instability for miners. Since 2016, ViaBTC has weathered three halving events and mined over 37,534 blocks in its 2,900-day existence. With a global hash rate and miners from 118 countries, ViaBTC remains dedicated to adapting to the changing crypto landscape. Source - cointelegraph.com #CryptoNews🔒📰🚫
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