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Bitcoin in “Accumulation” Phase Ahead of Halving The amount of Bitcoin transferred out of crypto exchanges has reached its highest value since January 2023, indicative of an “accumulation” phase that could lay the bedrock for a price surge in the coming months.
Meanwhile, Open Interest and Spent Output Profit Ratio metrics together show that the current bitcoin pullback—which saw the asset shed 10% in the past week—may have cooled off, giving bulls another reason to cheer.
When the Realized Price of STH whales holding over 1K Bitcoin is 60.7K, and LTH whales holding over 1K Bitcoin have a Realized Price of around 21.5K, despite the recent price drop influenced by fundamental news,
Bitcoin's price is still trading above the Realized Price of STH whales. This indicates strong demand for Bitcoin, while also highlighting the greater returns of long-term investment
The KPMG digital asset survey in Germany, conducted in 2024, revealed a renewed confidence in digital assets among German investors.
The survey involved 2,400 private crypto investors from Germany, Austria, and Switzerland, and it showcased several key findings:
Investment Allocation: 54% of the surveyed investors allocated more than 20% of their total assets to digital assets. Investment Safety Perception: 34% of the investors considered their investment in digital assets to be "rather safe," an increase of 11% from the previous year.
Portfolio Composition: Bitcoin (BTC) remained the most popular digital asset, with 91% of the surveyed investors holding it. Ethereum (ETH) followed with 78% and Solana (SOL) with a notable increase of 9% compared to the previous year.
Long-term Investment: 67% of the investors who invested more than 50% of their total assets in digital assets planned to hold their investments for the medium (3-5 years) to long term (over 5 years).
Security and Transaction Costs: When choosing their preferred crypto exchanges, security (82%), deposit and withdrawal options (65%), and transaction costs (62%) were among the most important criteria for investors.
Nice to see things getting back to normal somewhat, Mr100 just bought 300 BTC - 1/3rd of daily issuance, in 5 days it will be 2/3rds of daily issuance.
This is the zone of strong support, moreover it correlates with the EMA200 on 1D chart. Truly hope that these bids will be filled, it will be literally a perfect entry in this coin.
A fascinating query arose about what happens to miners post-halving and when they might see gains. For instance, after the last halving, Marathon Mining saw a remarkable 13,000% increase, reaching its peak exactly 1.5 years later.
While I'm not suggesting history will exactly repeat itself—given that there's more awareness around miners now—the key takeaway is that successful miners thrive post-halving.
However, I don't view MARA as the top choice this cycle. There are miners out there who are more efficient and effective.
Success in mining isn't just about hash rates; it's about having the latest and most modern rigs, minimizing SG&A costs, and securing cheap electricity.
For this cycle, CLSK remains my top pick. It has outperformed all others over the last 18 months, and my model anticipates this trend will continue. We might need to wait another 2 to 4 weeks to see miner results and possibly another surge in their stocks. There's a lot of apprehension leading up to the halving.
PS This is the ATR model and it also works real well on the weekly
Bitcoin is another asset to watch amid the latest inflation report in the US. What usually acts as a hedge against the dollar, bitcoin has been on a tear since the start of this year. Now price has broken above the potential head and shoulders pattern that happened in March. It has also broken above a bull flag pattern on the 1D timeframe.
Wednesday's number will also affect bitcoin's price. Higher CPI will not likely be optimistic for the crypto. Forecasts are saying that Core and the m/m rate will come down while CPI year-over-year will be higher. Similar to the US indices, bitcoin likes a weaker dollar and lower interest rates.
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