Bank of America pointed out that investors withdrew $600 million from cryptocurrency funds in the past week, the largest amount since June 2022. This shows that investors are concerned about the uncertainty and risks that may exist in the cryptocurrency market. Possible reasons include changes in regulatory policies, increased market volatility, and investors' doubts about the long-term prospects of cryptocurrencies.
Bitwise official data shows that as of May 3, their spot Bitcoin exchange-traded fund BITB has increased its holdings by 539.66 Bitcoins, bringing its total holdings to 33,459.61 BTC. This move also made their holdings market value exceed $2 billion again, currently reaching $2,067,172,924.23.
This shows that Bitwise is confident in the long-term prospects of Bitcoin and they are still optimistic about the development of the cryptocurrency market. This trend may also inspire other investors to be optimistic about Bitcoin, thereby driving up the price of Bitcoin.
Traders have moved up the time of the first rate cut from the originally planned November to September. Currently, U.S. interest rate futures show that the Federal Reserve may cut interest rates twice in 2024, by 25 basis points each time, while the pre-non-farm forecast was one time. This shows that market concerns about the outlook for the U.S. economy are rising, which may be affected by global economic uncertainty. For financial markets, this means that the lower interest rate environment may last longer, which may have a certain degree of impact on both the stock and bond markets.
On May 3, 2024, the amount of Bitcoin held by the ETF is 930,083 BTC.
The net inflow and outflow of US Bitcoin spot ETF yesterday (May 3) was +6,123 Bitcoins (+378 million US dollars).
Three trading days after its launch in Hong Kong, the Hong Kong Bitcoin Spot ETF held 4,218 coins.
Breaking News: Ladies and Gentlemen! GBTC saw its first inflow after 78 days of outflows.
BTC: Yesterday, the daily level closed with a large volume of medium-sized positive line, and is now at the middle track of the daily level BOLL. It may be an oversold rebound at present, and there may be a further upward rebound in the short term. Even if the recent rebound hits a new high, it is only regarded as a strong rebound rather than a reversal! Because the weekly level shows that there may be another bottom after the rebound. The bull market process is still continuing, just wait patiently.
ETH: Linked to Bitcoin trend.
Today's hot topics: BTC ecology; Solana ecology;
