TL;DR ViaBTC mined and sold the first satoshi after Bitcoin’s latest halving, causing a sensation in the community. The Ordinals protocol allows for the identification and trading of individual sats, classifying them into different categories of rarity and therefore, value. The auction of the “epic satoshi” took place on CoinEx and reached a price of $2.13 million, despite its nominal value being only $0.0006. ViaBTC has mined and sold the first satoshi after Bitcoin’s latest halving, causing a stir in the community. On April 20th, the company mined the first BTC block after the halving, and ..read more

TL;DR Bullish Bitcoin traders are reducing their positions due to declining demand after the halving and slowing inflows into ETFs. The Bitcoin funding index fell into negative territory on April 19, for the first time since October 2023. Despite reaching a high of $73,798 in March, BTC has seen a 13% correction since then. The euphoria surrounding Bitcoin appears to have subsided since the halving event. Bullish traders have begun to show less enthusiasm for opening long positions in Bitcoin futures, as indicated by the negative funding index recorded by Bloomberg on April 19, a phenomenon ..read more

TL;DR Bitcoin’s Value Decline: On April 25, Bitcoin’s trading value fell by up to 5%, establishing a base of around $64,000 due to a sudden reaction to geopolitical news and increased Middle East tensions. Market Observations: CoinGlass observed a surge in liquidity on both the buying and selling sides of Bitcoin’s spot price across various crypto exchanges. Meanwhile, QCP Capital noted a change in the mood around cryptocurrencies, predicting a capped upside and short-term stabilization of the spot price. US Spot Bitcoin ETFs: US spot Bitcoin ETFs experienced net outflows on April 24, primari ..read more

TL;DR Runes accounts for 68% of all Bitcoin transactions since its launch. Although it has decreased slightly since halving day, it has been a significant source of fee income for Bitcoin miners. There is debate over whether it will provide a sustainable income stream for Bitcoin miners in the long term. In the cryptocurrency world, tokenization has become a hot topic, and Runes is in the spotlight on the Bitcoin blockchain. Since its launch following the halving event, Runes has dominated the Bitcoin transaction landscape, accounting for 68% of all transactions to date, according to officia ..read more

TL;DR Morgan Stanley’s Consideration: The firm is contemplating allowing its 15,000 brokers to actively recommend Bitcoin ETFs to clients, aiming to capitalize on the growing interest in cryptocurrency investments. Risk Management: Morgan Stanley plans to implement controls or “guardrails” for solicited purchases, including risk tolerance requirements, trading frequency, and allocation limits to manage potential risks. Industry Comparison: The company’s strategy aligns with industry peers, offering Bitcoin ETFs to a broader client base while maintaining that they are speculative inv ..read more

TL;DR Bullish on Bitcoin: Arthur Hayes, co-founder of BitMEX, is optimistic about Bitcoin’s future, citing the macroeconomic environment and the potential burst of the sovereign debt bubble as catalysts for growth. Market Transition: Hayes notes the market is moving past a period of weakness and suggests that the factors driving Bitcoin’s past success may differ from those that will propel it in the future. Political Influence: The polarized US political scene, especially with the upcoming 2024 presidential election, may lead to negative real yields and drive investors towards assets like Bit ..read more

TL;DR Block’s New Bitcoin Mining Chip: Jack Dorsey, CEO of Block, has announced the successful development of a sophisticated 3nm Bitcoin mining chip, marking a significant milestone in the company’s efforts to decentralize Bitcoin mining hardware and hashrate distribution. Community Involvement and Innovation: Block has been actively seeking input from the mining community to address persistent industry issues, shaping their strategy to provide a standalone mining chip and a complete mining system developed internally. Impact on Bitcoin Mining: The newly developed chip is designed to serve m ..read more

TL;DR Tesla maintains its confidence in Bitcoin by keeping its 9,720 BTC intact during the first quarter of 2024, without making any sales or purchases. The company reported disappointing financial results, with revenues of $12.3 billion, well below the expected $21.4 billion. Elon Musk hinted at the possibility of using Dogecoin as a payment method at Tesla. Tesla, the electric vehicle company led by Elon Musk, continues to show its confidence in Bitcoin, keeping its BTC intact during the first quarter of 2024. According to the company’s quarterly report, no BTC sales or purchases were made ..read more

TL;DR Surge in Optimism: The Bitcoin ETFs market has seen renewed confidence post-Bitcoin halving, with increased net inflows into Bitcoin-related ETFs, indicating a positive outlook among investors. BlackRock’s Milestone: BlackRock’s Bitcoin ETF is nearing a record in assets under management, reflecting the growing mainstream acceptance of Bitcoin as an investment vehicle. Market Integration: The integration of cryptocurrency-based products in the ETF market suggests a potential for innovative financial instruments and a closer connection between traditional finance and digital currencies ..read more

TL;DR PayPal’s Blockchain Research Group, in collaboration with Energy Web and DMG Blockchain Solutions, is introducing a novel approach to make Bitcoin mining more environmentally friendly. They are leveraging crypto-economic incentives to promote sustainable mining practices. Miners who opt for sustainable energy will receive exclusive ‘green keys’ that provide them with advantages in handling Bitcoin transactions. This includes reduced fees and a bonus-locked BTC reward, encouraging miners to transition to eco-friendly energy sources. The initiative not only encourages green ..read more