👉👉👉 #bitcoin Runes Resurgence? Why Asia’s Institutional Investors Could Fuel Growth

In the world of crypto, the Runes protocol's rise and fall have been swift and dramatic. Launched alongside the Bitcoin halving in April, it quickly gained attention but failed to meet expectations, leading many to dismiss it as a failed endeavor.

However, amidst waning interest in the West, Runes is finding renewed excitement in East Asia. Institutional investors and centralized building teams see it as a more refined alternative to the earlier #BRC20 standard, offering enhanced security, scalability, and usability.

Unlike the chaotic debut of BRC-20 tokens in 2023, Runes was rolled out meticulously by a team led by Casey Rodarmor, the original creator of the Ordinals protocol. This methodical approach has resonated with investors in East Asia, who see Runes as a potential infrastructure cornerstone for the crypto industry.

Investment firms like the Hong Kong-based Newman Group are actively supporting Runes' development, citing its technical advantages and potential for efficient cross-chain transactions. Major players in the crypto space, such as Magic Eden and #OKX , have also thrown their weight behind the protocol.

Despite its initial setbacks, Runes has shown signs of resurgence, with transaction volume and market capitalization surging in late May. This comeback has fueled optimism among institutional investors in East Asia, who view Runes as a key player in mainstreaming fungible Bitcoin tokens.

While the road ahead for Runes is uncertain, its growing support in East Asia suggests that it may yet carve out a significant niche in the crypto ecosystem. As the choice between Runes and BRC-20 becomes clearer, the momentum behind Runes continues to build, signaling a potential second act for the protocol.

Source - decrypt.co

#CryptoTrends2024 #BinanceSquareBTC

👉👉👉 #Bitcoin's New ATH May Be Only Two Weeks Left! Analyst Announces the Events That Will Take $BTC to ATH!

In March, Bitcoin reached a new all-time high (ATH) surpassing its previous ATH of $69,000, but subsequently experienced a sharp decline. This drop was significantly influenced by the selling pressure from long-term investors. However, recent data indicating a decrease in this selling pressure has led to increased bullish expectations.

Investors are now anticipating a new ATH for Bitcoin in the short term. Markus Thielen, the founder of 10X Research known for his accurate predictions, has outlined key events that could propel Bitcoin to a new ATH.

Thielen emphasized the importance of June's inflation data for Bitcoin's trajectory. He claimed that if the Consumer Price Index (CPI) data is 3.3% or lower, Bitcoin will reach a new ATH. Additionally, he noted that strong inflows into spot #BitcoinETFs , apart from the US inflation data, would positively impact the price increase. He believes these inflows will "remain strong" in the two weeks leading up to the June CPI announcement.

However, Thielen cautioned that if the CPI data is higher than expected, the upward momentum in Bitcoin may weaken. He explained that Bitcoin price movements might appear random to many, but they are driven by critical factors, with inflation being a primary driver. Traders who understand Bitcoin's response to CPI data should trade confidently in the opposite direction of the change in CPI from the previous month.

“If inflation reaches 3.3% or lower in June, Bitcoin could hit an all-time high,” Thielen stated.

*This is not investment advice.

Source - en.bitcoinsistemi.com

#CryptoTrends2024 #cryptocurrency #BinanceSquareBTC

🔥🔥🔥 #BitcoinSpotETFs See Significant Net Inflows, Reaching $48.706M on May 30!

Key Points:

- Bitcoin spot ETFs witnessed a net inflow of $48.706 million on May 30, marking thirteen consecutive days of positive inflows.

- Fidelity’s FBTC ETF led the pack with an impressive single-day inflow of $119 million, indicating robust investor interest.

- Cumulative net inflows for Bitcoin spot ETFs have reached an impressive $13.809 billion, signaling growing mainstream acceptance.

Bitcoin spot ETFs registered a noteworthy net inflow of $48.706 million, extending a streak of thirteen consecutive days with positive inflows. This consistent uptrend underscores the increasing investor confidence and interest in Bitcoin as a mainstream financial asset.

Fidelity’s Bitcoin ETF (FBTC) stood out with a substantial single-day inflow of $119 million, reaffirming Fidelity's strong market position and appeal to investors seeking regulated exposure to Bitcoin.

Grayscale Bitcoin Trust (GBT ), another major player, experienced a neutral single-day outflow of $0.00, suggesting stability and minimal selling pressure for Grayscale’s product.

The cumulative net inflow for Bitcoin spot ETFs has now surpassed $13.809 billion, reflecting increasing institutional acceptance and adoption of Bitcoin ETFs as legitimate investment vehicles. The sustained inflows over the past thirteen days indicate consistent investor demand for Bitcoin exposure.

The continuous influx of funds into Bitcoin spot ETFs bodes well for the #cryptocurrency market, potentially driving further price appreciation and market maturity. It underscores investors' confidence in Bitcoin's long-term prospects despite the market's inherent volatility.

Source - coincu.com

#CryptoTrends2024 #BinanceSquareBTC

🔥🔥🔥 #bitcoin in 42-day ‘boredom zone’ — #traders debate next move

Bitcoin ($BTC ) has been trading in a "boredom zone" for 42 days, leaving crypto traders divided on its next move. Some predict a surge, while others foresee a 20% pullback to crucial support levels.

Crypto trader CryptoCon noted the lack of volatility in Bitcoin’s price as a key indicator of market boredom in a May 30 post on X. Bitcoin is currently priced at 68,076, up just 6.7% from 42 days ago (CoinMarketCap data). Throughout this period, it has mostly traded within a narrow range, apart from two instances where it broke its support and resistance levels of $58,253 and $71,443, respectively.

Trader Willy Woo views the extended consolidation as a positive, suggesting Bitcoin has "more room to run before topping out," as he posted on May 29. Similarly, Daan Crypto Trades believes Bitcoin is in a price discovery phase, where “anything goes.” He speculated that once Bitcoin surpasses its all-time high of $73,679, it could reach $102,073 by year-end.

However, some traders are less optimistic. Timothy Peterson, founder of Cane Island Alternative Advisors, highlighted the Bitcoin Price to Metcalfe Value indicator, which suggests a potential drop. When the ratio exceeds 100%, it has historically predicted a bear market of -20% or more. The ratio recently hit 102%, indicating a two-thirds chance of a 20% decline within the next six months, possibly dropping Bitcoin’s price to the low $50,000s.

Source - cointelegraph.com

#CryptoTrends2024 #BinanceSquareBTC

💥💥💥 Parabolic Rally In The Making? Bitcoin Regains $70,000 As Traders’ Paper Profits Collapse To 3%

#Bitcoin's Consolidation and Bullish Outlook

- Bitcoin (BTC) has recently consolidated between $67,000 and $70,000 after a brief correction in early May. This period coincides with renewed #ETF✅ inflows and reduced selling pressure.

Reduced Selling Pressure and Market Sentiment

- Julio Moreno of CryptoQuant notes that Bitcoin's current price level sees significantly lower selling pressure compared to previous peaks, indicating exhaustion of heavy selling. Santiment data shows Bitcoin's market cap surpassing $70 billion independently of the stock market, signaling positive market sentiment.

Pre-Breakout Consolidation Phase

- Rekt Capital observes Bitcoin's recent weekly candle closing below range high resistance, suggesting further consolidation within the $60,000 to $70,000 range. This aligns with the belief in two remaining phases of the bull cycle: re-accumulation and a parabolic rally.

Anticipated Bullish Momentum

- Historically, Bitcoin consolidates around all-time highs before significant bull runs. With the current consolidation at elevated levels, expectations are for a post-Halving rally to propel Bitcoin even higher than its mid-March peak of $73,700.

Current Market Performance

- Bitcoin has gained 2% in the past 24 hours and 10% in the past month, currently trading at $70,200. This positions Bitcoin at a critical stage in its bull cycle, with potential for a transition from consolidation to a parabolic surge.

Source - newsbtc.com

#CryptoTrends2024 #BinanceSquareBTC #cryptocurrencry

💥💥💥 #Bitcoin’s Network Strengthens: Mining Difficulty And Hash Rate Spike Amid $ETH ETF Buzz

Bitcoin's mining difficulty has risen by nearly 2%, reaching over 84.4 trillion, as the network’s hash rate surged past 600 EH/s. This comes amid speculation about potential approval of spot Ethereum ETFs in the U.S. Mining difficulty adjusts every 2,016 blocks (approximately every two weeks) to maintain a 10-minute interval between blocks, ensuring network stability and security.

Recent Shifts in Bitcoin Mining

- This adjustment follows a nearly 6% drop in difficulty earlier this month, the largest since December 2022. The hash rate's rebound from 580-590 EH/s to over 600 EH/s corresponds with a broader market rally driven by regulatory expectations for Ethereum products.

- Bitcoin’s mining difficulty mechanism self-regulates new block production, increasing difficulty as more miners join and decreasing it when fewer participate, ensuring a steady introduction of new BTC. The recent difficulty increase coincides with a slight recovery in Bitcoin’s hash price, which had reached an all-time low in April. The hash price, measuring expected earnings per unit of hash rate daily, has rebounded from less than $50 per PH/s per day to around $54.6, providing minor relief to miners.

Bitcoin’s Price Movements and Outlook

- Bitcoin’s price has dipped 2% in the last 24 hours but remains up 3.9% for the week, trading at $68,132. The market is watching for the US SEC’s decision on spot Ethereum ETFs, which could impact the entire crypto market. Analyst BitQuant predicts Bitcoin could reach $95,000, with a rise to $80,000 expected in May, followed by a sharp decline in June, while maintaining the overall timeline for this peak remains unchanged.

Source - newsbtc.com

#CryptoTrends2024 #cryptocurrency #BinanceSquareBTC

$ALGO /USDT

#LONG-5-7x📈

Entry

0.1093

Sl: 0.1010

Take-Profit
1) 0.1120
2) 0.1145
3) 0.1189
4) 0.1228
5) 0.1271

Capital: 2-3%
R/R ratio: 2.2
(Use only what you can afford to lose at the SL) #BinanceSquareBTC #FutureTradingStrategy #CZBinance #BTC

👉👉👉 Staying Steady in #Bitcoin’s #BullMarket Amid Volatility

The current phase in Bitcoin's market is characterized by a surge in optimism, signaling the onset of what many are dubbing the golden bull phase. However, amidst this bullish momentum, investors must brace themselves for heightened volatility and emotional swings.

In this dynamic market environment, it's crucial for investors to cultivate emotional resilience. Minor price fluctuations, such as 1% dumps, are commonplace in the volatile #cryptocurrency realm. Yet, these fluctuations can trigger panic selling and hasty decisions among investors. Therefore, maintaining composure and adopting a long-term perspective are imperative.

The prevailing sentiment of disbelief, despite bullish indicators, underscores the emotional rollercoaster inherent in the market cycle. However, such skepticism often precedes significant growth periods. Recognizing this pattern can help investors remain steadfast in their convictions amid short-term turbulence.

As Bitcoin progresses through this golden bull phase, the prospect of achieving new all-time highs becomes increasingly tangible. For investors, this presents a tremendous opportunity, provided they navigate the market's emotional demands with prudence and resilience. Staying well-informed, refraining from impulsive reactions to market fluctuations, and maintaining faith in Bitcoin's long-term trajectory are essential strategies for success.

In essence, this phase of the #Bitcoinmarket serves as a test not only of financial acumen but also of emotional fortitude. Investors who can weather the storm, keeping emotions in check and focusing on the bigger picture, stand poised to reap the rewards of the significant growth potential ahead. While the journey to new all-time highs may be fraught with challenges, those who navigate it skillfully may find themselves handsomely rewarded in the end.

Source - cryptonewsland.com

#BinanceSquareBTC $BTC

🔥🔥🔥 Pre-Halving Surge Expected: Betting on #Bitcoin’s Rise

As Bitcoin approaches its highly anticipated halving event, slated to occur in just 60 days, the cryptocurrency community finds itself immersed in speculation about the market's trajectory. While some voices express concerns about a substantial correction, prevailing sentiment leans towards further price appreciation leading up to the halving, rather than a downturn.

The skepticism regarding a pre-halving correction is rooted in historical patterns and the unique dynamics surrounding halving events. Bitcoin's halving, which slashes the reward for mining new blocks by half, has historically acted as a catalyst for #bullish market activity. The anticipation of reduced supply, combined with steady or increasing demand, typically drives prices upward.

Many within the community, including seasoned investors and analysts, are optimistic about a sustained period of upward momentum in the lead-up to the halving. This optimism is supported by past halving events, which have often seen corrective phases occurring after the event itself, once initial excitement has subsided.

Following the anticipated correction post-halving, the market is expected to transition and move towards new all-time highs (ATHs). This expectation is grounded in the belief that the halving will reinforce confidence in Bitcoin's scarcity and value proposition, laying the groundwork for substantial long-term growth.

In summary, the 60 days preceding Bitcoin's halving are regarded by many as an opportunity for significant gains, with any potential correction more likely to occur after the halving event. This strategic perspective fosters a bullish outlook for Bitcoin in the short term, followed by a healthy market correction that could pave the way for a strong push towards new ATHs. However, investors are advised to approach the market cautiously, considering the inherent volatility and risks associated with #cryptocurrency investments.

Source - cryptonewsland.com

#CryptoNews #BinanceSquareBTC $BTC

🌟 Bitcoin's Time Capsule Unlocked: $230M BTC Stirs After 6-Year Hibernation!

Hey, it's Linkan here with a time-traveling twist in the crypto saga! Just when you thought the blockchain waters were calm, a historic move shakes the scene. We're talking a whopping $230 million in Bitcoin, breaking its slumber since the days of yore. Let's zoom in on this monumental move that's got the crypto world buzzing!

The Crypto Awakening:
Cast your minds back to 2017, a year of heady crypto highs. Now, fast forward to today, and bam! Three Bitcoin wallets, dormant since that rollercoaster year, have just made a move that's echoing across the digital landscape. On November 3, 2023, these wallets unleashed 6,500 BTC into the blockchain wilds, ending their six-year silence in a spectacular fashion.

A Nod to the Satoshi Era:
These aren't just any old coins; they're relics from July 2011, a time when Bitcoin was a mere whisper in the vast internet expanse. This blast from the past carries the mystique of the Satoshi era, a nod to the enigmatic creator whose vision sparked a revolution.

Surfing the Market Waves:
Bitcoin's been on a tear, and this historic transfer adds an intriguing layer to the narrative. With the market's eyes wide open, we're left to wonder: What ripples will this ancient BTC make? Is this the start of a new chapter, or a fleeting glimpse into the past?

I'm all ears and eager to hear your takes: Why now? What's the story behind this ancient Bitcoin awakening?

Hashtags:

Disclaimer:
Dive into this tale for the thrill, not the counsel. This isn't financial advice, just a journey through crypto history.

If this crypto chronicle has your mind racing, hit like, share your theories, and let's keep our community at the cutting edge of crypto curiosity! 🧐📈💬

🔥🔥🔥 #BlackRock ’s IBIT continues to lead #BitcoinETF💰💰💰 volume among 'Newborn Nine'

On the third day of trading, BlackRock's Bitcoin ETF, IBIT, continues to lead in total volume, sparking speculation about its potential to become the largest holder of Bitcoin (BTC). The competitive landscape among the recently launched Bitcoin spot ETFs, known as the "Newborn Nine," witnessed a total volume around the $500 million mark on January 16, aligning with industry expectations.

BlackRock's IBIT is gaining momentum, and ETF analyst Eric Balchunas from Bloomberg suggests that it's a matter of "when," not "if," BlackRock will surpass tech giant MicroStrategy in Bitcoin holdings. This insight has stirred discussions among investors who are closely monitoring BlackRock's assertive foray into the #cryptocurrency space.

The BlackRock iShares ETF, with impressive inflow and volume figures, is positioned to challenge the Grayscale Bitcoin Trust (GBTC), currently known as the 'Liquidity King' due to its longstanding market presence and a substantial number of holders.

IBIT recorded significant flows in the first two days, amassing approximately $497.7 million, leading BlackRock to accumulate around 11,500 BTC for its fund. Fidelity Investments' FBTC closely follows IBIT with notable total flows of $422.3 million over the same period, maintaining a trading volume of $170.1 million on day three.

New Bitcoin ETFs, with over $3.1 billion in volume, see strong inflows. GBTC and BITO, dominating at $4.65 billion and $3.26 billion (60% of total volume), face outflows. 'Newborn Nine' success indicates a maturing market for crypto ETFs, with consistent demand post-launch. Focus on BlackRock's IBIT in the race against GBTC shapes the future of digital asset investing. Bitcoin, with $848.94 billion market cap, 1.73% 24-hour increase, and $24.19 billion 24-hour volume, maintains top position.

Source - cryptoslate.com

#CryptoNews #BinanceSquareBTC

👉👉👉 #BitcoinETFs Threaten Gold’s Dominance As Digitalization Trends Gain Momentum

Since their approval by the US Securities & Exchange Commission (#SEC ) just over a month ago, Bitcoin ETFs have rapidly gained momentum in the market, challenging the dominance of gold ETFs.

- Bitcoin ETFs Close Gap with Gold ETFs

The swift rise of Bitcoin ETFs has led to a convergence in asset values, with BTC ETFs quickly catching up to gold ETFs. Within a mere 25 trading days, Bitcoin ETFs have amassed approximately $37 billion in assets, compared to the $93 billion accumulated by gold ETFs over two decades.

However, market analyst Crypto Con highlights a notable shift in Long-Term Bitcoin holder positions, indicating a potential downside movement.

According to Crypto Con's chart, the position change line recently dropped below -50.00 for the first time in over a year. Historically, this pattern appears during significant moments in Bitcoin's market cycles, including cycle bottoms, mid-tops (less frequent), & the start or end of a cycle top parabola (more common).

Crypto Con suggests that this shift in long-term holder positions presents two potential scenarios: either a mid-top or an impending parabolic movement. Such a development at this stage of the cycle is considered unusual.

This trend suggests that a substantial number of long-term Bitcoin holders are exiting their positions, possibly anticipating a market correction or a shift in the overall trend.

Overall, the shift in Bitcoin holder positions & the decline in retail participation present contrasting dynamics in the current market environment. While institutional demand continues to propel the price of Bitcoin upward, long-term holders seem to be taking profits or adjusting their positions.

With $BTC currently trading at $51,800, the direction of the next move remains uncertain. Additionally, the increasing influence of institutional investors as spot Bitcoin ETFs gain traction adds another layer of complexity to the market landscape.

Source - newsbtc.com

#CryptoNews #BinanceSquareBTC #cryptocurrency

👉👉👉 #Bitcoinprice Accumulation – Risk of Pullback Escalates Below $52K

Bitcoin is currently facing resistance as it attempts to breach the $52,000 mark, raising concerns about a potential downturn below the critical support level of $50,500.

BTC is struggling to surpass the $52,000 resistance zone, with its price trading below both $51,800 and the 100-hourly Simple Moving Average.

A bearish flag pattern has emerged on the hourly chart of the BTC/USD pair, with support forming around $51,120.
There's a risk of a significant pullback if the price breaks below the crucial support level of $50,500.

- Bitcoin Price Struggles Near $52,000

Despite a short-lived uptick above $51,500, Bitcoin's price trajectory remained negative as it failed to conquer the $52,200 resistance area. The #cryptocurrency remained below $51,800 and trended lower, slipping below $51,200 before staging a minor recovery.

Bears regained control near the $52,000 resistance zone, pushing Bitcoin below $51,800 and the 100-hourly Simple Moving Average. A bearish flag pattern on the hourly chart suggests possible further downside.

Immediate resistance lies at $51,800, followed by hurdles at $52,000 and $52,500. A breakthrough above $52,000 could propel the price towards the $52,500 resistance, closely aligned with the 76.4% Fibonacci retracement level.

The primary resistance zone is near $53,000, followed by potential resistance levels near $53,500 and $54,200.

- Potential Downside in $BTC ?

If Bitcoin fails to surpass the $51,800 resistance, a downtrend may resume. Initial support near $51,100 and the channel trend line. Below $50,550, a deeper pullback towards $49,500 and potentially $49,200 could follow.

- Technical Indicators:

Hourly MACD – The #MACD is displaying bearish momentum.
Hourly RSI (Relative Strength Index) – The RSI for BTC/USD is below the 50 level, indicating bearish sentiment.

- Key Support Levels – $51,100, followed by $50,550.

- Key Resistance Levels – $51,800, $52,000, and $52,500.

Source - newsbtc.com

#CryptoNews #BinanceSquareBTC

🔥🔥🔥 #Bitcoin‬ Ordinals Project Runestone Hosts Auction Ahead of #Airdrop🪂

The Runestone, heralded as the largest ordinal inscription by block size, is currently up for auction, as noted by #NFT historian Leonidas on Wednesday. According to Leonidas, the highest bid for the Runestone inscription stands at 0.26 BTC, equivalent to around $17,261.61 on the Ord City marketplace.

Leonidas emphasized that all proceeds from this auction will be allocated to cover the Bitcoin network fees associated with the Runestone airdrop and will go directly to Bitcoin miners. He clarified that there are no team allocations or pre-sales, and the eligibility algorithm was designed to ensure fairness without favoring large stakeholders.

"The Runestone is a non-utility project, and its delegate inscriptions are collectible pieces of art intended to be cherished as badges of honor for those who supported the Ordinal protocol from the outset," Leonidas explained.
The Runestone auction is set to conclude on March 8, 2024, at noon.

The Runestone airdrop, announced in February, inscribed the Runestone ordinal on the Bitcoin blockchain this week. This project spanned 3.97 MB, filling two entire blocks on the network. Leonidas highlighted collaboration with OrdinalsBot and Marathon Digital Holdings, setting a record for Bitcoin's largest block.

While the specific date of the event remains undisclosed, the upcoming Runestone airdrop will see over 112,000 eligible Bitcoin addresses receiving a Runestone ordinal inscription. Following the halving, once the Runes protocol is operational on Bitcoin, a Runes token will be airdropped to Runestone holders in proportion to their holdings.

Leonidas cautioned about high Bitcoin network fees for the upcoming airdrop post-halving. The Runes protocol will launch on Bitcoin L1 at block 840,000, around April 20, 2024. The artistic imagery on the Runestone was contributed by Léo Caillard under a Creative Commons license, symbolizing humanity's timeless communication across generations.

Source - decrypt.co

#BinanceSquareBTC #CryptoNews🔒📰🚫

👉👉👉 Navigating the Complex World of #NFTs and Intellectual Property Rights

A comprehensive examination jointly conducted by the U.S. Copyright Office and the U.S. Patent and Trademark Office (USPTO) has concluded that the existing framework of intellectual property (IP) laws adequately addresses the complexities arising from the emergence of Non-Fungible Tokens (NFTs). This assessment comes amidst growing concerns surrounding piracy and IP violations within NFT platforms.

- Addressing IP Challenges in the NFT Landscape

Released on March 12, the collaborative study thoroughly analyzed the implications of IP law and policy in relation to NFTs, a digital innovation reshaping notions of ownership and authenticity in the online sphere. While NFT technology offers novel means of proving ownership, the report highlighted significant hurdles, including widespread trademark infringements and the intricate task of enforcing rights in a decentralized and often anonymous digital environment.

- The Verdict: Prioritizing Education Over Legislative Amendments

Despite the identified challenges, the U.S. agencies determined that revising existing IP laws is unwarranted and imprudent at present. The report clarifies that traditional copyright laws are applicable to NFTs, particularly in cases involving copyrighted materials without proper authorization. Furthermore, it stressed the effectiveness of current enforcement mechanisms in addressing NFT-related infringements.

USPTO Director Kathi Vidal highlighted NFTs' dual nature: offering creators new IP opportunities but also posing security risks. The report suggests addressing consumer confusion through #education and enhanced protections, rather than IP law changes. Future perspectives on NFTs and #Blockchain in US patent and trademark registrations remain exploratory, without specific proposals. The report marks a milestone amid NFT market fluctuations, with increased Ether prices but declining sales volumes and floor prices.

Source - coinnounce.com 

#CryptoNews🔒📰🚫 #BinanceSquareBTC