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Bitcoin’s New ‘Millionaire’ Wallets Lag Despite BTC’s All-Time High: Research

Could slower Bitcoin millionaire wallet growth signal early bull market stages and pending peak capital inflows?

Cryptopotato·2024/03/12 11:31

BlackRock’s IBIT spot bitcoin ETF amasses 200,000 BTC in two months

BlackRock’s IBIT spot bitcoin ETF has exceeded 200,000 BTC in assets under management after just two months of trading.The newborn nine spot bitcoin ETFs — excluding Grayscale’s converted GBTC fund — now total more than 420,000 BTC.

The Block·2024/03/12 11:29

Ark Invest sells an additional $69 million worth of Coinbase shares in one day

Cathie Wood’s Ark Invest offloaded another 270,365 Coinbase shares on Monday — worth $68.7 million.COIN has surged 10% over the past week to reach the highest level since December 2021.

The Block·2024/03/12 10:14

Bitcoin has 6 months until ETF 'liquidity crisis' — New analysis

Bitcoin ETFs are sucking up the BTC available for purchase, and the tipping point in supply dynamics will come this year, one analyst says.

Cointelegraph·2024/03/12 09:16

Thailand allows asset firms to access spot bitcoin ETFs for professional investors: report

Thailand’s Securities and Exchange Commission has permitted firms to launch funds for investing in U.S. spot bitcoin ETFs. The country’s asset management firms are now allowed to offer funds with exposure to spot bitcoin ETFs for institutional investors.

The Block·2024/03/12 08:52

Grayscale Sees Huge Bitcoin ETF Outflow, But Record Inflow for VanEck

The world’s largest crypto asset manager is still hemorrhaging Bitcoin with the largest outflow recorded this month, however other funds are inflowing more.

Cryptopotato·2024/03/12 08:01

Bitcoin miner revenue hits all-time high amid price surge

Daily bitcoin mining revenue surpassed its previous 2021 high over the weekend, The Block data showed.

The Block·2024/03/12 06:48

Bitcoin surges after crypto ETPs notch record $2.7B weekly inflows

The price of Bitcoin has pushed to reach new all-time highs above $72,000, spurred by record-breaking weekly inflows into crypto funds.

Cointelegraph·2024/03/12 05:58

XRP Price Soars 18% as Bitcoin Witnesses New All-Time High

Coinedition·2024/03/12 05:46

Trump cites merchandise sales in apparent bitcoin U-turn

This represents a change in course for Trump, who previously told the BBC that bitcoin “seems like a scam.”

Blockworks·2024/03/12 05:25

Flash

04:50

State Street: The Bank of Japan may raise interest rates again this year

Jinse Finance reported that on June 16, after the Bank of Japan decided to raise interest rates, Japanese government bonds remained weak in terms of price. Masahiko Loo from State Street Global Advisors commented: "Despite (Governor) Kazuo Ueda's absence, the 7-to-1 voting result highlights strong momentum behind normalization and shows that the inflationary camp is clearly in the minority." The senior fixed income strategist stated, "The focus now shifts to (Deputy Governor) Shinichi Uchida's press conference, where even a slightly hawkish tone or any hints about an earlier rate hike in the September/October window will be closely scrutinized, although this is considered a low-probability outcome." State Street Global Advisors expects the Bank of Japan to raise rates at least one more time this year. The two-year Japanese government bond yield rose by 1.5 basis points to 1.410%, while the ten-year yield increased by 5 basis points to 2.625%.

04:44

Analyst: Inflationary pressures persist in Japan, with focus on further rate hike signals

According to Golden Ten Data on June 16, Daiwa Research Institute economist Kanako Nakamura stated that the Bank of Japan listed accelerated cost pass-through as one of the reasons for raising interest rates in its statement, emphasizing that the recent rise in import costs influenced by the Middle East situation, together with the existing wage-price cycle, is jointly driving up prices. Even if oil prices stabilize as peace negotiations progress, the cost increases have already spread from plastics and ethylene sectors to electricity, natural gas, and transportation, indicating that price pressures will persist. Against this backdrop, the market is focused on how hawkish the Bank of Japan will be in signaling further rate hikes. Given that the interest rate differential between Japan and the US continues to put depreciation pressure on the yen, it remains necessary to continue raising interest rates to prevent a further weakening of the yen.

04:35

Reserve Bank of Australia interest rate decision: The outlook for domestic economic activity and inflation remains highly uncertain

The resolution of the Middle East conflict is still in its early stages, and there is a reasonable scenario in which inflation remains above, and activity falls below, the benchmark forecasts for May. Issues with global oil supply will take some time to resolve, which will keep upward pressure on global energy prices and inflation. At the same time, a period of uncertainty may also lead to slower economic growth for Australia’s major trading partners and for Australia itself.

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Analyst: Inflationary pressures persist in Japan, with focus on further rate hike signals

US government watchdog urges FDIC coordinate on crypto oversight

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