Interest in US Spot Bitcoin ETFs is declining short-term, evidenced by two weeks of net outflows, primarily due to concerns over prolonged high interest rates. Despite an 11% gain in Q1, Nickel Digital Asset Management has tempered expectations for its Diversified Alpha fund, citing unsustainable market conditions. Amidst market volatility, notable Bitcoin transactions by the “Mr. 100” address suggest a bullish long-term outlook, with significant recent accumulations. Interest in the US Spot Bitcoin ETF seems to wane a little, at least in the short term. Data shows two weeks of net outflo ..read more

The recent Bitcoin halving reduced miner rewards while slashing daily new supply well below the US$150 million demand from US spot ETFs. Indicators suggest high expectations for price rises, even amidst ongoing sales by long-term holders. Fidelity Digital Assets revised Bitcoin’s outlook from positive to neutral, citing sell pressure from profitable addresses. The recent halving of Bitcoin mining rewards has drastically reduced the daily addition of new coins to the market, potentially increasing the demand to five times the supply, a report by exchange Bitfinex said. Related: CryptoQuant ..read more

Tether said it will work with authorities in the US to freeze USDT wallet addresses linked to the Venezuelan state-run oil company PDVSA. This move follows a report from Reuters that PDVSA plans to increase its use of USDT to try to evade US sanctions imposed on the South American nation. Tether, the issuer of the USDT stablecoin, said it will work with the US government to block addresses linked to sanctioned entities following a Reuters report that Venezuela’s state-run oil company, PDVSA, plans to increase its usage of the cryptocurrency to sidestep US sanctions. The US Treasury Depart ..read more

CryptoQuant CEO Ki Young Ju reports new Bitcoin investors hold $110bn, nearly double the assets of long-standing holders. The analysts exclude addresses associated with exchanges and miners. But this also means ETF-related Bitcoin, held by central exchanges, is omitted, potentially underrepresenting institutional activity. Meanwhile Bitcoin is trading within a choppy range. Old Bitcoin whales have been outpaced by newer buyers, it seems. According to CryptoQuant CEO Ki Young Ju, “New whales’ initial investment in Bitcoin is almost twice the old whales’ cumulative total.” As of 21 April, n ..read more

Hong Kong plans to introduce crypto ETFs focusing on Bitcoin and Ether, with trading expected as early as next week. The initiative is part of Hong Kong’s strategy to restore its financial centre status and establish itself as a global hub for digital assets. Victory Securities has set ETF fees for primary market transactions between 0.5% and 1%, with different rates for secondary market trades. As reported earlier Hong Kong is set to launch a series of crypto exchange-traded funds (ETFs), mirroring similar initiatives in the United States. This is seen as part of its efforts to establish ..read more

A new report from the International Monetary Fund has emphasised Bitcoin’s role as a unique economic driver. The analysis focussed on cross-border transactions to identify how Bitcoin was similar (or unique) to traditional capital flow. The report uncovered that BTC is often used by people in developing nations to circumvent capital flow restrictions and financial instability such as inflation and corruption. The IMF also found that on-chain BTC transactions are typically higher-value than off-chain transactions (eg. L1 vs L2). The International Monetary Fund (IMF) released a recent repor ..read more

Two SEC attorneys have resigned after being accused of making potentially false and misleading representations to the court by the judge in the regulator’s case against DEBT Box. The judge also accused the SEC itself of a gross abuse of its powers, prompting an apology from the regulator’s head of enforcement. The SEC has been ordered to pay some of DEBT Box’s legal fees and the regulator has now filed a motion to have this case dismissed. Well, well well. If it isn’t another questionable SEC case against a crypto company. This time two Securities and Exchange Commission (SEC) attorneys h ..read more

The Bitcoin halving reduced miner rewards from 6.25 to 3.125 BTC at block 840,000, coinciding with high transaction fees due to the Runes launch. Fees initially surged to over US$146 for medium-priority and $170 for high-priority transactions, but have since decreased to around $16. Mark Cuban suggests miners might pivot to AI, exploiting high GPU demand, as mining’s economics shift post-halving. The Bitcoin halving is over and what’s called the ‘block subsidy’ – the reward miners get for their work – has decreased from 6.25 bitcoin to 3.125 bitcoin on block 840,000. So far so good, but f ..read more

Coinbase’s APAC Managing Director has implored the Aussie Government to work together with major industry players to improve regulatory clarity. According to John O’Loghlen, Australia is home to several “could-be” unicorn startups in the blockchain sector – but regulatory muddiness may be holding them back. Meanwhile, crypto ownership in Australia is set to reach new heights in 2024. Australian crypto unicorns may be on their way – but first, the rest of the country needs to catch up. According to Coinbase’s Asia Pacific Managing Director, John O’Loghlen, the land Down Under is home to so ..read more

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