Bitcoin (BTC) Spot ETF Flow Data and Market Trends

Even though global tensions have eased, the net inflows into BTC spot ETFs on Monday are essential for understanding the demand picture after the halving event. New data shows that $82.8 million left the Bitcoin market in the week ending April 12. This could have an immediate effect on the short-term demand for Bitcoin.
Nikkei Asia reports that Hong Kong has taken a big step toward accepting cryptocurrencies as mainstream alternatives to make investments. The Hong Kong Securities and Futures Commission (SFC) has approved the first spot Bitcoin and Ethereum exchange-traded funds.
Bosera Asset Management and China Asset Management, two well-known financial institutions, said that the ETFs could now be launched after getting regulatory permission. This is a major turning point for crypto investments in the area.

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Bitcoin (BTC) Fear and Greed Index Signals

The Bitcoin Fear and Greed Index moved closer to the Extreme Greed zone as the halving event is approaching. This suggests that prices may potentially drop from where they are currently.
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 change in the index shows how investors feel and can affect their decisions to buy or sell.
At the time of writing, Bitcoin is trading at $66,392 versus the US dollar, with a market value of $1.307 billion. This latest 2.5% gain has been spurred by favorable news from Hong Kong, which saw the adoption of Asia’s first Bitcoin ETF.

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Geopolitics: Investors Find Relief from News of Pre-Warning

The slight gain in Bitcoin price on Sunday partially reversed a 3.78% slide from Saturday, marking the end of a three-day losing streak. Investors were pleased to hear that Iran had warned Israel ahead of time of an upcoming attack. This brought hope that things would not get uglier in the region.

Nevertheless, Bitcoin was unable to overcome its Saturday losses. There was further worry about the impending Bitcoin Halving event owing to the threat of growing hostilities in the Middle East.
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Cryptocurrency Markets in Flux

It was a non-boring weekend for the cryptocurrency market. Market sentiment swung sharply towards buying the dollar and selling stocks, gold, and cryptos on Friday afternoon. Also operating over the weekend, the crypto market accelerated its decline on Saturday, with capitalisation falling to $2.2 trillion (-18% from Monday’s peak) but began to recover on Sunday and has risen to $2.42 trillion (-7% in seven days) at the time of writing.
CryptoQuant said the current cryptocurrency market crash is necessary to reset traders’ unrealised profits to zero – usually a bottom signal in bull markets. MicroStrategy founder Michael Saylor emphasised that “chaos is good for bitcoin”.
If spot bitcoin ETFs are launched in Hong Kong, demand from Chinese mainland investors could reach $25bn, Matrixport expects. According to Bloomberg, Hong Kong may approve ETFs based on the first cryptocurrency and Ethereum as early as 15 April.

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Crypto market rebounds as Bitcoin recovers from Iran-Israel tensions

Over the past few days, the crypto market witnessed a significant downturn attributed to heightened tensions between Iran and Israel. Concerns regarding potential escalations in the Middle East unsettled financial markets, prompting investors to seek safer investment avenues.
The crypto market also declined after the recent data have not been helpful, with inflation stalled well above the U.S. central bank's 2% target for the first quarter of the year.
However, Bitcoin was last 2% higher at $65,466 in Monday's trading, after falling below $62,000 on Sunday.

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Israel-Iran War Fears Suddenly Spark $500 Billion Bitcoin And Crypto Price Crash—Hitting Ethereum, BNB, XRP, Solana And Dogecoin

Bitcoin BTC has fallen sharply after Israel's military said Iran had fired "dozens" of drones toward it in a retaliatory attack.
The bitcoin price has dropped toward $60,000 per bitcoin, down from over $70,000 per bitcoin earlier this week, after the Iranian Revolutionary Guard said it launched “dozens of drones and missiles” at Israeli territory.
The bitcoin price crash dragged down the wider crypto market, hitting top ten coins ethereum, BNBBNB, XRPXRP , solana and dogecoin and wiping $500 billion from the combined crypto market.

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ETH Slides Below $3.5K But Bullish Presence Remains Strong

Ethereum’s price has undergone an extensive phase of sideways consolidation subsequent to a decline toward the critical support level of $3K.

Despite this, the cryptocurrency seems confined within a range between $3K and $3.7K, and it’s unlikely that volatility will pick up unless it manages to break out in either direction.

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Putting The Current State of Crypto Into Perspective

Crypto markets heat up about every four years. This is no coincidence as it aligns with an event called ‘Bitcoin Halving,’ which occurs every four years. The Bitcoin Halving is a pivotal shift where Bitcoin miners are rewarded with only half the Bitcoin they were awarded prior to the event. This reduction was pre-programmed into Bitcoin's design, halving the pace of new supply creation going forward. Bitcoin miners are individuals who provide computing power to verify transactions on the Bitcoin blockchain. In return for their services in verifying transactions and supporting the blockchain, they are compensated with Bitcoin, similar to earning transaction fees. This setup ensured that most of the Bitcoin supply was issued early on, and rewards will continue to decrease towards zero. New supply will continue being added until around the year 2140. For reference, there are 19.6 million Bitcoins in circulation, with the total supply capped at 21 million.

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Bitcoin halving expected on April 20, here's what it means; should you invest?

Bitcoin is all set to undergo its highly anticipated 'halving' around April 20. This event, considered one of the most eagerly awaited in cryptocurrency market, has recently driven up the price of the digital asset, according to Bloomberg.
The digital asset has seen a roughly 50 per cent increase in value this year, despite experiencing a decline from its all-time high of $73,798 reached on March 14th. The surge witnessed this year is attributed to the approval of bitcoin ETFs by the US Securities and Exchange Commission in January, along with anticipations of interest rate cuts by the US Federal Reserve.
As the 2024 Bitcoin halving event draws near, speculation arises regarding the potential for history to repeat itself within the market.

#bitcoinhalving $BTC

Hong Kong set to approve its first spot bitcoin ETFs in April

The Hong Kong units of China Asset Management, Harvest Fund Management and Bosera Asset Management are among the applicants, according to the two people and a third source.

The sources were not authorised to speak to media and declined to be identified.

Hong
China Asset Management and Harvest Fund Management's Hong Kong units obtained approval this month to manage portfolios that invest more than 10% in virtual assets, according to the SFC's website.

Their parent companies are among the biggest mutual fund firms in China, with each managing over 1 trillion yuan ($138 billion) in assets.

Although cryptocurrency trading is banned in mainland China, offshore Chinese financial institutions have been keen to participate in crypto asset development in Hong Kong.

#bitcoinhalving #latestupdate
$BTC

Why Have a Bitcoin Halving?

Bitcoin has a finite supply. There can only ever be a maximum of 21 million Bitcoins, and there are currently ~19.66m in circulation. The value of a Bitcoin, as with other assets, is determined by supply and demand.

Controlling the releases of the yet-to-be-mined coins helps to balance the supply and demand, as it prevents the market from being flooded by supply, instead providing a known supply constraint as demand increases over time. Three elements can be said to be at play with the Bitcoin Halving mechanism:

Avoids high levels of inflation by steadily reducing the quantity of new Bitcoins released over time.
Makes Bitcoin more scarce as time continues, because eventually, all the Bitcoin in existence will be in existence. This preserves its long-term value and further protects against inflation, a problem seen with fiat currencies throughout the world.
Maintains a supply of rewards, i.e., incentives, for miners to continue operating over a much longer period. Until around 2140.
Bitcoin Halving events will continue to happen approximately every four years until the last of Bitcoin’s maximum supply of 21 million has been mined. It’s estimated that all available BTC will be mined by 2140.

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RIGHT TIME TO BUY AND SELL CRYPTO

There are many methods that equity investors use to decide when to execute a trade in the stock markets, but the same rules and trading patterns don’t always apply to cryptocurrency. It’s true that cryptocurrency buyers can make purchases within certain windows to get the best possible price. Still, the volatility of the cryptocurrency market makes it very difficult to identify reliable patterns and choose positions accordingly.

1. Cryptocurrencies are most active during the work week, with prices starting low on Monday morning and steadily rising until they drop over the weekend.
2. Pay attention to stock market trading hours as they have an effect on cryptocurrency trading, even though you can buy and sell cryptocurrencies 24/7.
3. Be aware of your risk tolerance by forecasting your cash flow and watching cryptocurrency market trends.

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BTC Stopped at $69K

Bitcoin’s price actions this week have been quite unfavorable for the asset. It all started on Monday with a price slump that drove the cryptocurrency from over $70,000 to under $66,000.

That was just the beginning, as the bears initiated another leg down on Tuesday and Wednesday. This time, the largest digital asset fell to a 10-day low of around $64,500. The bulls finally intercepted the moves at this point and began a slow recovery that saw Bitcoin reclaim some ground on Thursday morning.

Hours later, the cryptocurrency went on the offensive once again and soared by several grand. As a result, it jumped above $69,000 amid the growing ETF inflows, but that turned out to be a false breakout.

#BTCHalvingApril2024 $BTC

FLOKI
FLOKI is the utility token of the Floki ecosystem. It was built on the Ethereum blockchain but is also BEP-20 compliant. This means users can swap FLOKI tokens at a 1:1 ratio on the ETH-BSC bridge.

FLOKI is self-described as “The People’s Crypto,” highlighting its vision as a movement dedicated to the Web3 space and more than just a dog-themed coin.

Unlike other meme coins, FLOKI puts emphasis on becoming a hub for web3 enthusiasts.

FLOKI has several main projects that provide practical applications for the FLOKI token: Valhalla for gaming metaverse, FlokiFi for decentralized finance, FlokiPlaces for NFTs and merchandise, and the University of Floki for education, and more.

#FlokiRoadmap2024 $FLOKI

Shiba Inu (SHIB) is one of the most popular meme coins both in the cryptocurrency world and the mainstream.

It’s the second-largest meme coin by market capitalization, only behind the beloved Dogecoin (DOGE). As this segment of the market continues to expand with an influx of never-ending participants, it’s worth looking at some of the best-known alternatives to SHIB.

This task is challenging because the meme coin market is filled with hundreds of tokens that may have no purpose outside of entertainment/speculation. However, some of these have a strong user base or plan to become a hub for Web3 projects, giving meme coins a level of utility for users and traders on decentralized applications (dApps).

We have boiled down the most popular meme coins for 2024 based on several factors, such as roadmaps, utility, or just the pure strength of their communities.

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