Bitcoin's Performance Against Market Volatility
Over the last 24 hours, Bitcoin experienced minor fluctuations but ultimately managed to stay above the $71,000 level; It rose to $71,142.90 and dropped to $70,119.12. This resistance occurred despite a significant outflow of $132.2 million in Bitcoin ETFs reported by Farside Investors on June 6. While the global market fell, Bitcoin's dominance increased by 0.21% to 53.24%, recording a net gain of 0.22% on the day. The industry's leading cryptocurrency is showing its resilience despite the sea of ​​red and underlining its strong position in the crypto hierarchy.
Ethereum and Altcoin Dynamics
Ethereum dropped 1.57% in value to $3,804.81. Despite an increase in daily active users following ETF approval, Ethereum could not escape the overall negative market sentiment. Similarly, Solana fell 2.02% to $170.47, which it surpassed the day before. Ripple is down 0.68% as it stands at $0.5223, and this sensitive support level has left investors worried. Altcoins showed fundamental support strength despite widespread selling in line with general market trends.
Status of Meme Tokens
Meme tokens such as Dogecoin (DOGE) and Shiba Inu (SHIB) continued to decline; Dogecoin lost 1.01% and Shiba Inu lost 2.99%. Other speculative tokens such as PEPE, WIF and BONK showed sharper declines of 5-6%. Amid this bleak outlook, FLOKI rose modestly by 0.93%, indicating selective investor interest in this highly speculative segment. The performance of meme tokens reveals the rapid changes in sentiment in the cryptocurrency market.

👇👏

BlackRock's ETF Outperforms Grayscale: What's Next for Bitcoin (BTC)?

BlackRock's $20 Billion ETF Is Now the World's Largest Bitcoin Fund
BlackRock Inc.'s iShares Bitcoin Trust has become the largest Bitcoin fund, accumulating nearly $20 billion in assets since its U.S. listing at the beginning of the year. According to Bloomberg data, the ETF held $19.68 billion worth of tokens as of Tuesday, surpassing the $19.65 billion held by Grayscale Bitcoin Trust.

Impact of New Bitcoin ETFs on the Market
The launch of BlackRock and Fidelity's Bitcoin ETFs was a major milestone for the cryptocurrency market. These ETFs were among nine ETFs introduced on January 11, the day the Grayscale vehicle from a decade ago became an ETF. This development made Bitcoin more accessible to investors, contributing to its record high of $73,798 in March.

Since its inception, iShares Bitcoin Trust has attracted the largest amount of inflows and has accumulated $16.5 billion in assets. In comparison, investors withdrew $17.7 billion from the Grayscale fund during the same period. High wages and arbitrage opportunities are cited as possible reasons for these outflows. Neither BlackRock nor Grayscale Investments LLC responded to requests for comment made outside U.S. business hours.

Grayscale plans to launch a clone of its parent fund with lower fees, a source familiar with the matter said in a regulatory filing in March. The US Securities and Exchange Commission (SEC) reluctantly approved the first US spot-Bitcoin ETFs in January, following the court decision in the lawsuit filed by Grayscale in 2023.

BlackRock's iShares Bitcoin Trust has quickly become the largest Bitcoin fund, highlighting the growing acceptance and availability of Bitcoin ETFs.

Bitcoin (BTC) Reached a Record High of $68,900 on May 25, Setting a New Milestone.
Bitcoin (BTC) rose to an impressive $68,900 on May 25, and this passed without significant market volatility. This rise has reignited interest in the cryptocurrency market, and many investors are closely watching Bitcoin's next move. The stability in Bitcoin's price has provided optimism that upward trends may occur in the near future.

Impact of Altcoins

While Bitcoin experienced a significant rise, altcoins showed minimal fluctuations. Dogecoin (DOGE), the leading meme coin in terms of market cap, had a remarkable day. Kabosu, the iconic dog of the Dogecoin mascot, passed away, his owner announced. Following this announcement, Elon Musk made a post and DOGE rose above the $0.17 level, but could not sustain a larger uptrend. Although it failed to surpass the $0.174 level, maintaining the $0.166 level was encouraging. If DOGE continues to rise, it could reach $0.18, $0.197, and potentially $0.21. When it exceeds the $0.23 level, it is possible that a big rally will start and the rise will peak.
Shiba Coin (SHIB) has been trading sideways for a long time with minimal upside. Unlike Bitcoin's fluctuations, SHIB failed to realize the expected rise. To break the current recession, SHIB must surpass the $0.0000269 resistance. Additionally, the lack of exciting developments from Shibarium or new projects negatively impacts SHIB's appeal.

PEPE Coin Price Prediction

PEPE Coin attracts attention among meme coins and is constantly rising without providing profit opportunities. The number of investors making profits is increasing and the price recently reached $0.0000158. If the $0.0000125 top is lost, a significant downside risk could arise and the price could drop to $0.0000089.

Not Investment Advice
#BinanceHerYerde #EarnFreeCrypto2024 #Binance #btc

The bill called FIT21, prepared to regulate crypto assets in the USA, was accepted by majority vote in the US House of Representatives.

While the bill approves the Commodity Futures Trading Commission for oversight of decentralized crypto assets, the SEC and the Biden Administration are said to have concerns about the bill. SEC Chairman Gary Gensler has concerns that the bill lacks protection for investors.

The bill, which has the support of both Democrats and Republicans in the House of Representatives, is expected to create a clear regulatory framework for crypto assets. Patrick McHenry, Chairman of the House Financial Services Committee, said in his statement about the bill that he believes that in this way, the USA will reinforce its global leadership in technological innovation and adoption.
Biden administration and SEC concerned

This important step towards regulating crypto assets has caused the White House and the SEC to worry about some issues. The regulator claims that the bill has some shortcomings in terms of investor protection.

The Biden Administration, which has similar thoughts, opposes the adoption of the bill but has not yet threatened a veto. This strengthens the view that the bill may be revised before it becomes law.

SEC Chairman Gary Gensler, on the other hand, claims that FIT21 contains some regulatory loopholes and thinks that if the bill comes into force, it may harm the rules regarding investor contract oversight. Gensler believes that this situation could put both investors and capital markets at risk.

As it is known, Gensler is very insistent that crypto assets be placed under the supervision of the SEC. The current study aims to bring crypto assets largely under the jurisdiction of the CFTC. This means that the SEC remains disabled in the oversight of crypto assets.

Note: For those who missed the coin, I am leaving the links for Tapswap, Dotcoin and Yescoin, take your place before it is too late.

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t.me/BlumCryptoBot/app?startapp=ref_enrYXvZEiN

🎁 May we have plenty of earnings.

#Binance #Notcoin. #Ton

It has reached $NOT 35 million users and is the first meme coin of the #Ton network. Even though Meme is a coin, they will also work and develop in the areas of Gamefi and Web3. They got a good hype behind it, there is Ton Foundation and Telegram behind it. It's just the beginning of the road, but it's a promising project for the future.

#Notcoin has become a trending topic after the listing news with the great buzz it brought and the hype it created. We are talking about a project where 78% was distributed as airdrop. When there are many airdrops, the amount people have may change. There will be selling pressure in the first moments. Since the quantity I have is small and the price does not satisfy me, I do not think of selling it. I think it will bring good profits in the medium and long term. I wish everyone good luck in advance. Remember, Rome was not built in 1 day.
#Telegram #Binance #Ton

How Will the US Presidential Elections in November Affect Bitcoin and Cryptocurrencies? Rise or Fall?

QCP Capital, a leading cryptocurrency analysis firm, recently discussed the potential impact of the upcoming US elections on Bitcoin and other cryptocurrencies. The firm stated that historically markets have shown an upward trend towards elections.

However, according to analysts, this year's elections may experience a unique dynamic due to the increasing interest in cryptocurrencies among voters.

Former President Donald Trump is making moves towards the crypto community, which could influence his rival Joe Biden to take a similar stance. Trump's appeal to crypto enthusiasts marks a significant shift from his first term, when he was more critical of the industry. Trump's direct embrace of cryptocurrencies is seen as a turning point for the industry, which has lobbied heavily in Washington and invested heavily to influence the outcome of the 2024 elections.
At an event where he introduced his own non-fungible token (NFT), Trump urged crypto supporters to vote for him, citing regulatory crackdowns on the sector under the Biden administration. “They are against cryptocurrencies,” he said, referring to the Democrats' approach to cryptocurrencies.

The Republican party has become increasingly friendly towards Bitcoin and other digital assets in recent years. By contrast, key Democrats are divided on whether to legitimize the industry after a series of scandals.

“President Trump's statements signal a shift in the importance of digital assets this election cycle,” said Kristin Smith, CEO of the Blockchain Association, a top crypto industry lobby group.

It is not investment advice.
#Binance #ETFvsBTC #Bitcoin #BinanceSquareTurkey #BinanceSqaure

Delist Announcement from Bitcoin Exchange Binance! Four Altcoin Trading Pairs Delisted from Spot Transactions

In a move aimed at protecting users and optimizing trading conditions, Binance, one of the world's largest cryptocurrency exchanges, announced the removal of certain spot trading pairs following a routine review of their offerings.

Binance Announces Delisting of Certain Spot Trading Pairs

Binance will delist and halt trading of the following spot trading pairs effective May 10, 2024 at 06:00:

AAVE/BNB
DEGO/BTC
LTC/TUSD
SAND/ETH

The decision to remove these trading pairs is based on Binance's periodic reviews, which consider factors such as liquidity and trading volume.

Binance aims to provide a high-quality trading environment for its users by periodically evaluating the services it offers.
It is important to note that delisting a spot trading pair does not affect the availability of tokens on Binance Spot.

Users will be able to continue buying and selling base and quote assets of delisted pairs on other trading pairs available on Binance.

Additionally, Binance will discontinue Spot Trading Bots services for the above-mentioned spot trading pairs at 06:00 on May 10, 2024.

Users using Spot Trading Bots are strongly advised to update or cancel their bots before the services are stopped to reduce possible losses.

Binance is committed to providing its users with a safe and efficient trading experience and will continue to regularly review trading pairs to maintain quality and security standards.

*This is not investment advice.

#Binance #BinanceSqaure #BinanceSquareTurkey

Investing.com - Net outflows from the global crypto-based investment funds market continued last week. While the net fund outflow was 251 million dollars, an inflow of 307 million dollars was recorded in the first week of transactions in Hong Kong, the new market of the sector.

In the crypto asset investment products market, where fund outflows have continued for 4 consecutive weeks, the acceleration of outflows from ETFs launched in the USA this year has also attracted attention in the last week. According to CoinShares data, around $156 million was withdrawn from newly issued ETFs. CoinShares analysts estimate the average Bitcoin purchase price since the launch of these ETFs at $62,200. It is estimated that the BTC price falling 10% below this average last week may have activated automatic sell orders.

On a regional basis, the USA was the market where the most crypto investment funds were sold, with $504 million. While other markets except Hong Kong and Brazil remained negative, Sweden was the region with the highest fund outflow after the USA with 30.3 million dollars. Purchases that prevented net outflows from increasing came from Hong Kong.

Last week saw the launch of spot Bitcoin and Ethereum ETFs in Hong Kong, a development that excited the crypto markets. In the first week of transactions, a total of 306.5 million dollars were purchased in the Hong Kong market. However, net outflows on a global basis overshadowed inflows from Hong Kong.

By asset, Bitcoin remained the most traded asset with outflows of $284 million. There was a surprising development in the last week's transactions compared to other weeks. So much so that last week, altcoin investment funds other than Bitcoin recorded inflows, albeit in low amounts. As can be seen in the table, Ethereum was the altcoin that collected the most funds with 30 million dollars. This enabled Ethereum-based investment funds to end their 7-week outflow streak.

#Binance #Bitcoin

NEW YORK - Cipher Mining Inc. (NASDAQ: NASDAQ:CIFR) announced its first-quarter results, reporting a significant increase in adjusted earnings while slightly missing revenue expectations.

The company set a record in earnings performance by reporting GAAP net income of $40 million and non-GAAP adjusted earnings of $63 million for the quarter ending March 31, 2024. CIFR shares rose 0.45% following the announcement.

Cipher's first-quarter revenue came in at $48 million, falling short of analysts' consensus estimate of $50 million. Despite this, reported revenue represents a significant increase over the $21.9 million reported in the same quarter last year, indicating strong year-over-year (YoY) growth.

CEO Tyler Page expressed satisfaction with the quarter's results and the company's operational progress, including construction of the new Black Pearl data center. “We are pleased to announce results for the first quarter of 2024, where we achieved record net income on both a GAAP and non-GAAP basis,” Page said.

Page also highlighted the company's expansion plans, stating that the self-mining hash rate is expected to reach approximately 9.3 EH/s by the end of the third quarter of 2024, and is planned to rise to approximately 25.1 EH/s by the end of 2025.

Cipher's earnings per share (EPS) of $0.13 beat analyst forecasts for a breakeven quarter. The company's financial position remains strong, with cash and cash equivalents totaling $88.7 million, compared to $86.1 million at the end of the previous quarter.

Cipher Mining's focus on developing and operating bitcoin mining data centers is part of its commitment to expanding the infrastructure of the Bitcoin network. With its strategic partnerships and dedicated team, Cipher aims to be a leader in the bitcoin mining industry, especially in the post-halving environment that requires efficient and scalable operations.

#Binance #Bitcoin

Although the Bitcoin halving, which took place on April 20, halved the rewards given to miners by the system, the interest in the Runes protocol and the transaction fees it brought closed this gap. However, as interest in Runes decreased in May, transaction fees returned to normal levels. For miners who earned an average of 6 million dollars per day in the first 4 months of 2024, this figure has now dropped below 3 million dollars.

The fact that interest in the Runes protocol is decreasing day by day has further reduced the already falling income of Bitcoin miners. Although roughly half of the transactions on the Bitcoin network are still linked to the Runes protocol, the number of transactions has dropped from 800 thousand on April 23 to less than 350 thousand.

This situation, of course, was also reflected in transaction fees. According to the figures provided by The Block, the 7-day moving average of transaction fees, which rose up to 40 dollars, has now dropped below 10 dollars and continues to fall. On the next day of the halving, a total of $80 million was paid to Bitcoin miners.

All time low reached

Again, according to Block, Bitcoin miners' revenues dropped to $0.048 per terahash per second, which was the lowest level of all time. However, it is worth noting that the value of 3,125 BTC earned by miners per block today is much higher than the 25 BTC earned in 2013.

Giant Facilities are on the Way

Miners, who purchased thousands of machines before the halving and opened new facilities and will continue to do so, continue to struggle to surpass each other in this race. Many mining companies, from Bitfarms to RIOT to Cleanspark, will open new facilities with thousands of devices to be delivered in the 3rd quarter of 2024.

Not Investment Advice

#Binance #Runes #Bitcoin #BinanceSqaure #BinanceSquareTurkey

Record level in Bitcoin (BTC) after 800 weeks!

Bitcoin (BTC) surpassed 1 billion transactions exactly 800 weeks after its launch. BTC's new record was supported by the rise.

According to Clark Moody's Bitcoin dashboard, the cryptocurrency leader has processed more than 1 billion transactions. Bitcoin, which reached a new milestone after 800 weeks, attracted great attention, especially with protocols such as Ordinals and Runes.

According to data provided by The Block, it carried out 14.48 million transactions in the last month of April. In March, this figure was 11.63 million. Bitcoin hosted 2.32 million transactions in the past 6 days.

Bitcoin (BTC) surpasses billionth transaction
Satoshi Nakamoto mined the first block in Bitcoin (BTC) on January 3, 2009. After more than fifteen years since the first block, the 1 billionth transaction on the Bitcoin network has been completed. The milestone 1 billionth transaction occurred on the morning of May 6, at block 842,241.

The Bitcoin network has increased its activity, especially since September 2023, when spot Bitcoin ETFs came to the fore. At the turning point, Ordinals and the new protocol Runes, which sometimes caused congestion in the Bitcoin network, were effective. Spot Bitcoin ETFs, on the other hand, managed to attract new players to the leading cryptocurrency. All these factors contributed to BTC reaching record price levels and 1 billion transactions on its network.

On the other hand, Ethereum became the first blockchain to reach the one billion milestone. For this reason, Bitcoin lost control to Ethereum at an important point. Ethereum has processed approximately 2.4 billion transactions.

According to Clark Moody's dashboard, the Bitcoin network processed an average of 6 transactions per second over the last 30 days. Additionally, the Bitcoin network has witnessed an average of 178,475 daily transactions since day one.

Not Investment Advice
#Binance #Bitcoin #BinanceSqaure #BinanceSquareTurkey

Automobile Giant Tesla Updated Payment Information: There is New Dogecoin Details!
An update has been made on the Tesla official website, which will also include Dogecoin (DOGE) payments. Here are the details.
Tesla, one of the world's largest electric car manufacturers, also included Dogecoin (DOGE) detail in an update made in the payment section of its official website.

According to the official website, American Express, Discover, Mastercard, Visa and Apple Pay payment options are used when purchasing Tesla products. However, Tesla also stated in the note he added that Dogecoin can be used for some products.

According to the cryptocurrency community, Dogecoin was not previously mentioned among the payment options. However, DOGE cannot be used to purchase Tesla cars. It can only be used to purchase certain products.
Users who want to purchase Tesla products with DOGE are given a price indicating the DOGE equivalent of the product for a certain period of time, but this is valid for a short time. The price needs to be updated after some time. It is known that the reason for this is the volatility that DOGE has.

However, it is not currently possible to purchase any of Tesla products with Bitcoin. For a while, even Tesla cars could be purchased with BTC.

Not Investment Advice

#Binance #btc #Dogecoin‬⁩ #elonMusk #BinanceSquareTurkey

As of today, the economic data announced in the USA was on the agenda of traditional financial markets and the cryptocurrency industry. Non-Farm Employment and Unemployment data in the USA proved that the labor market in the USA has weakened.

This incoming data caused crypto assets to experience significant increases. After the data, US Federal Reserve (FED) executives spoke. Here are the latest statements made by FED officials:
Chicago Fed President Austan Goolsbee:

We experienced a large increase in inflation at the beginning of the year.
We need to step back and see what the increase in inflation is.
What happened in the labor market this year needs to be reorganized according to forecasts of increased immigration; I'm still trying to analyze this.
The more job reports like today's, the more comfortable I'll feel.
I think monetary policy is restrictive.
If the Fed remains restrictive for too long, it will have to consider the employment side of its mandate; but the current numbers are solid.

FED Board Member Bowman:

It is unclear whether supply-side improvements will continue to reduce inflation.
Monetary policy appears restrictive.
I still see some upside inflation risks.
I will continue to monitor the data closely to evaluate appropriate monetary policy.

Not Investment Advice
#Binance #btc #Bitcoin #BinanceSqaure #BinanceSquareTurkey

How Long Will Bitcoin Decline Last? Current BTC Analysis

MEDIUM TERM BTC ANALYSIS

12-Hour BTC/USDT Chart
12-Hour BTC/USDT Chart
When we examine Bitcoin's 12-hour support and resistance zones, it is trying to hold on to the important support range of $ 57,780 - $ 56,230. As long as the BTC price continues to close the 12-hour candle above the blue zone, the possibility of an uptrend is expected as stated in the analysis.

Potential Movements of Bitcoin

If BTC first closes daily candles above the $61,200 level in order for the movement specified in the analysis to occur, it will become more willing to rise. As long as BTC does not lose the $56,230 support, its rise to the $69,100 level is expected.

Negative Scenario and Decline Forecast

However, if BTC price closes daily candles below the $56,230 support, it may continue its downward movement until the $53,000 – $52,050 support. Therefore, for long-term investments in BTC, daily candle closes above $61,200 should be expected first.

Conclusion

When Bitcoin's medium-term situation and close support and resistance levels are analyzed, it allows us to have an idea about the general course of the cryptocurrency market. Investors should closely follow the indicated support and resistance levels and consider the recommendations of the analysis.

Not Investment Advice
#Binance #btc #Bitcoin #BinanceSquareTurkey

The Decline in Bitcoin Continues: $ 58,000 Levels Reached, Here is the Latest Data

BTC, which started the week with a downward trend, continues its downward trend today.

Currently, Bitcoin, which has lost nearly 4 percent of its value in the last 24 hours, has fallen to $ 58,000. Ethereum, which lost an average of 10 percent of its value with the decline of Bitcoin, reached $ 2880.

Bitcoin, which closed April with a decline for the first time after a 7-month rise, left April behind at $60,600.

Currently, the most important support level appears to be $ 58,000. 4-hour and daily closes below this level may further deepen the decline.
As an important development yesterday, the trial of Binance founder Changpeng Zhao was held and he was sentenced to 4 months in prison. This development was welcomed positively for the cryptocurrency market.

Again, the most important development of this week is tonight's Fed decision. The US Federal Reserve's interest rate decision will be announced at 21:00 Türkiye time.

On the other hand, when we look at the fear and greed index, which measures market sensitivity, we see that it has moved to "Neutral" status with 54 points after a long time.

Not Investment Advice
#Binance #btc #BinanceSquareTurkey

Michael Saylor Buys Bitcoin (BTC) Again

Michael Saylor, once one of the biggest Bitcoin enemies, is now a big cryptocurrency maximalist. His company has been accumulating Bitcoin since 2021 and they make new purchases at frequent intervals. Michael Saylor just announced that they have made a new BTC purchase. So how much was the total reserve?

MicroStrategy Bought Bitcoin

According to the announcement made on Saylor's official X account, the company received another 122 BTC worth $ 7.8 million. The company's total Bitcoin reserve climbed to 214,400. The company, which bought BTC even during the most severe days of bear markets, now has a much larger reserve. Some prominent details of the announcement are as follows:
Since the end of the fourth quarter, 25,250 Bitcoins have been purchased for $1.65 billion, or $65,232 per Bitcoin.
As of April 26, the company has 214,400 BTC at an average cost of $35,180.
Total Revenues 115.2 million, down 5% from the previous year.
The company's subscription Services Revenues reached 23.0 million, up 22% from the previous year.
Bitcoin price surpassed $63,000 again following the announcement.

#Binance #Bitcoin #btc #BinanceSquareTurkey

Big Prediction from an Influential Analyst: “If Bitcoin Manages to Maintain This Level, There May Be a Rise to $71,000”
Cryptocurrency analyst Ali Martinez shared the level that Bitcoin should maintain in his statement. Here are the details.
In his latest statement, well-known cryptocurrency analyst Ali Martinez identified a critically important level for Bitcoin and presented a general analysis.

According to the analyst, the realized price of short-term investors in Bitcoin is at $ 59,800. The analyst also argues that historically speaking, BTC price has a tendency to bounce from this level during uptrends. However, Martinez also warns that if this level is lost, the BTC price may experience serious corrections historically.

On the other hand, the analyst also stated that the $61,900 level consistently constitutes a critical support level for the Bitcoin price. According to the analyst, if this level continues to hold, the BTC price may rise again to around $ 71,000.

Adding the Ethereum price to his analysis, Martinez reminded that there is a strong resistance at the $ 3,200 level, and 2.43 million cryptocurrency addresses hold 5.14 million ETH at this level.

At the time of writing this article, the BTC price is at $ 62,844, while the Etheruem price is trading around $ 3,177 after a serious decrease of 4% in the last 24 hours.

Not Investment Advice

#Binance #btc #Eth #BinanceSquareTurkey