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šŸš€šŸš€šŸš€ #ETFs : Will #Bitcoinā€¬ hit a fresh all-time high in 2024? Bitcoin's potential to surpass its previous all-time high (ATH) of nearly $70,000 is fueled by the emergence of exchange-traded funds (ETFs) & the upcoming halving event scheduled for April 2024. - BTC's Recent Performance: Bitcoin recently surged to its highest price since 2021, approaching its record peak of $69,000 before a correction. It currently stands above $63,000, driven by significant capital inflows into the global cryptocurrency market. - Impact of ETFs: The approval of spot ETFs for Bitcoin in the U.S. has attracted billions of institutional dollars, contributing to its upward trajectory. Out of the 11 approved ETFs, 10 are actively trading & have garnered substantial inflows. - ETF Holdings: Nine approved ETFs manage over 300,000 BTC, valued at $17 billion, while #grayscale 's holdings amount to approximately $27.61 billion, totaling around $43 billion worth of Bitcoin. - BlackRock's Dominance: #BlackRock , managing assets exceeding $7 billion, leads among ETF operators. Trading volume for its iShares Bitcoin Trust (IBIT) surged on Feb. 28, indicating widespread adoption. - Halving Event: Bitcoin's halving, occurring every four years, historically sparks price surges. Analysts predict it could drive Bitcoin to new highs, targeting at least $130,000 by 2024. - Scarcity Model: The halving maintains Bitcoin's scarcity, aligning with its deflationary principles by reducing mining rewards from 6.25 to 3.125 BTC per block. This ensures only 21 million $BTC will ever circulate, emphasizing Bitcoin's controlled supply mechanism. - Market Predictions: While many expect Bitcoin's price to soar post-halving, some, like JPMorgan, predict a drop to $42,000. The market's response will determine whether #bullish forecasts materialize in 2024. - Current Status: As of writing, Bitcoin trades at $63,748, with a market cap exceeding $1.2 trillion. Its future trajectory hinges on factors like ETF adoption & the halving event's impact on supply dynamics. Source - crypto.news

šŸš€šŸš€šŸš€ #ETFs : Will #Bitcoinā€¬ hit a fresh all-time high in 2024?

Bitcoin's potential to surpass its previous all-time high (ATH) of nearly $70,000 is fueled by the emergence of exchange-traded funds (ETFs) & the upcoming halving event scheduled for April 2024.

- BTC's Recent Performance:

Bitcoin recently surged to its highest price since 2021, approaching its record peak of $69,000 before a correction. It currently stands above $63,000, driven by significant capital inflows into the global cryptocurrency market.

- Impact of ETFs:

The approval of spot ETFs for Bitcoin in the U.S. has attracted billions of institutional dollars, contributing to its upward trajectory. Out of the 11 approved ETFs, 10 are actively trading & have garnered substantial inflows.

- ETF Holdings:

Nine approved ETFs manage over 300,000 BTC, valued at $17 billion, while #grayscale 's holdings amount to approximately $27.61 billion, totaling around $43 billion worth of Bitcoin.

- BlackRock's Dominance:

#BlackRock , managing assets exceeding $7 billion, leads among ETF operators. Trading volume for its iShares Bitcoin Trust (IBIT) surged on Feb. 28, indicating widespread adoption.

- Halving Event:

Bitcoin's halving, occurring every four years, historically sparks price surges. Analysts predict it could drive Bitcoin to new highs, targeting at least $130,000 by 2024.

- Scarcity Model:

The halving maintains Bitcoin's scarcity, aligning with its deflationary principles by reducing mining rewards from 6.25 to 3.125 BTC per block. This ensures only 21 million $BTC will ever circulate, emphasizing Bitcoin's controlled supply mechanism.

- Market Predictions:

While many expect Bitcoin's price to soar post-halving, some, like JPMorgan, predict a drop to $42,000. The market's response will determine whether #bullish forecasts materialize in 2024.

- Current Status:

As of writing, Bitcoin trades at $63,748, with a market cap exceeding $1.2 trillion. Its future trajectory hinges on factors like ETF adoption & the halving event's impact on supply dynamics.

Source - crypto.news

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#EU Watchdog Says Reordering #Blockchain Transactions Might Be Market Abuse. Industry Says It's Not The European Securities and Markets Authority (ESMA) has raised concerns about a practice utilized by certain crypto miners, labeling it as a potential form of market abuse in its latest regulatory proposals under the Markets in Crypto Assets (MiCA) framework. Known as maximum extractable value (MEV), this practice involves blockchain operators reordering user transactions to maximize their own profits. While ESMA considers MEV as potentially suspicious, some industry experts argue that it's not entirely negative and plays a role in improving blockchain network efficiency. MEV encompasses various trading strategies where blockchain operators manipulate the network's transaction queue to extract additional profits, often by reordering transactions or frontrunning them with new transactions just before they are written to the blockchain ledger. Anja Blaj from the European Crypto Initiative (EUCI) emphasizes that MEV should not automatically be considered market abuse, as its primary purpose is to compensate validators for their work. However, some policy watchers argue that MEV is beyond the scope of MiCA regulation, warning against potential overregulation. ESMA's consultation on tackling market abuse under MiCA acknowledges the potential implications of MEV on market integrity. While MEV may raise questions about the order validation process on the blockchain and could lead to frontrunning, it doesn't necessarily constitute market abuse in every instance. ESMA and the EBA are seeking feedback on regulatory measures under MiCA, with stakeholders pushing for clearer guidelines on MEV-related scenarios to determine market abuse & responsibility. Peter Kerstens, an adviser to the European Commission, notes ongoing discussions on MEV, with ESMA seeking public feedback until June 25. This consultation aims to clarify if & when MEV could lead to market abuse, suggesting an official stance may follow. Source - coindesk.com #CryptoNewsšŸ”’šŸ“°šŸš« #BinanceSquareTalks
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šŸ‘‰šŸ‘‰šŸ‘‰ #Solanaā© struggles: Record 75% of users txs are failing... or are they? The Solana network is facing challenges in meeting the soaring demand for #memecoins , with approximately 75% of transactions on the network currently experiencing failures. However, proponents argue that this data is being misinterpreted on a wide scale. According to data from Dune Analytics, on April 4, over 75% of all "non-vote" transactions on the Solana network failed, marking the highest failure rate on record. This surge in failures has coincided with a recent surge in complaints from Solana users on social media, citing issues with failed transactions and a deteriorating user experience. In a post on X dated April 4, a pseudonymous trader known as Altcoin Sherpa expressed belief in Solana's potential to establish itself as the #Blockchain network for retail adoption. However, they acknowledged that the current user experience falls short of expectations, hinting at potential bot spam as a contributing factor. Contrarily, Mert Mumtaz, CEO of Helius and a vocal supporter of Solana, refuted the claim that 75% of transactions were failing. He argued that the majority of failed non-vote transactions were simply a result of "bot spam," rather than genuine network issues. Source - cointelegraph.com #CryptoNewsšŸ”’šŸ“°šŸš« #BinanceSquareTalks
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#altcoins Massive Rally Loading Says Silver-Tongued #CryptoMarket Analyst Doctor Profit, a renowned analyst renowned for his accurate predictions in the Bitcoin and crypto market, has recently made a bold assertion regarding the future trajectory of altcoins, suggesting an imminent surge. In his latest analysis, he prophesies a significant rally on the horizon for altcoins. According to Doctor Profit, the 50-day Exponential Moving Average (EMA50) holds great significance as an indicator of the altcoin market's bullish or bearish status. Drawing parallels to the 2021 bull market, where a notable correction occurred after 47 weeks, resulting in altcoins dropping below the critical EMA50 line, Doctor Profit identifies a similar pattern emerging in the current bull cycle. With only 24 weeks of #bullish movement thus far, Doctor Profit predicts much higher targets for altcoins in the months ahead. In his detailed weekly report, Doctor Profit delves deeper into technical analysis, psychological factors, and market trends. He highlights Bitcoin's sideways movement as an accumulation phase, anticipating a substantial upward trajectory with BTC poised to surpass $80,000 and reach $100,000 swiftly. Doctor Profit underscores the importance of monitoring Bitcoin's monthly close and its performance against inflation-adjusted all-time highs. Furthermore, Doctor Profit emphasizes the diminishing supply of BTC on exchanges, signaling bullish market sentiment amidst high demand. He advises strategic entry points for both altcoin and BTC investments, anticipating a super cycle that could propel Bitcoin to unprecedented highs by mid-2025. Despite the inherent fluctuations in the market, Doctor Profit maintains an optimistic outlook, advocating for a "hold and add more" strategy, while cautioning against hasty selling decisions. As the crypto market continues to evolve, Doctor Profit's insights offer valuable guidance for investors navigating the dynamic landscape of digital assets. Source - cryptonewsland.com #CryptoNewsšŸ”’šŸ“°šŸš« #BinanceSquareTalks
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šŸ”„šŸ”„šŸ”„ #Bitcoinprice Returns to $69,000 Ahead of 4/20 #halving Bitcoin is showing signs of a resurgence after a brief lull at the beginning of April, reclaiming its position above $69,000 on Thursday as the highly anticipated halving event approaches in a couple of weeks. Over the past 24 hours, Bitcoin's price has surged by 5%, reaching $69,139. This marks a reversal from a three-day downtrend that saw the leading cryptocurrency dip below the $70,000 threshold and nearly touch $65,000 on Tuesday before rebounding on Thursday. The Bitcoin halving, a quadrennial network event, reduces the amount of BTC rewarded to miners for successfully mining a new block. This mechanism aims to slow the growth of the circulating supply and mitigate inflation, typically resulting in an uptick in the asset's price. In anticipation of the upcoming halving, expected around April 20, Bitcoin's price spiked in March, reaching a new all-time high of $73,737. Throughout the month, Bitcoin experienced several upward surges, surpassing its previous record set in November 2021 around the $69,000 level. The exact date of the halving has fluctuated in recent weeks, as it is tied to a specific network block, influenced by Bitcoin's activity and demand. Presently, April 20, or 4/20, is the anticipated date, aligning with a significant meme number, which resonates with the current priceā€”a phenomenon often observed in the #cryptocurrency space. Bitcoin's rally has sparked a market-wide uptrend, with Ethereum up 4% to $3,415, Dogecoin climbing 6% to $0.186, and Binance Coin leading with an 8% increase to $597. Two notable gainers among the top 100 coins are ORDI, up nearly 15% to over $64, and Bitcoin Cash, rising around 12% to $644 after its recent halving event. Source - decrypt.co #CryptoNewsšŸ”’šŸ“°šŸš« #BinanceSquareBTC
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šŸ”„šŸ”„šŸ”„ Altcoin Charts Show #bullish Signs Ahead of #BitcoinHalving and #AltCoinSeason Dan Gambardello, the founder of Crypto Capital Venture, recently shared insights on X regarding the weekly charts of four altcoins: Cardano ($ADA ), Gala ($GALA ), Avalanche ($AVAX ), and MultiversX (EGLD). According to Gambardello, the weekly charts of these selected altcoins exhibit similar trajectories, hinting at potential momentum ahead of the Bitcoin halving and the subsequent altcoin season. Gambardello expressed optimism, suggesting that these altcoins are "just getting started," implying a possible rally in their prices in the near future. Responding to Gambardello's observations, crypto enthusiast Jason Owen weighed in on X, noting that the weekly chart of ADA appears more promising compared to its hourly counterpart. However, Owen pointed out a potential bearish pattern forming on the daily timeframe, specifically a head and shoulders pattern. This pattern typically signals a trend reversal, indicating a potential downward movement in prices until the pattern is invalidated. Gambardello's charts illustrate that since the beginning of 2024, the prices of these altcoins have been predominantly on an upward trajectory, with occasional retracements followed by renewed momentum. In a separate development, prominent Bitcoin analyst MichaĆ«l van de Poppe recently identified ten altcoins that investors may consider acquiring before the anticipated altcoin season. Among these altcoins are Chainlink (LINK), Celestia (TIA), and Polkadot (DOT). Source - coinedition.com #CryptoNewsšŸ”’šŸ“°šŸš« #BinanceSquareBTC
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