Bitcoin Magazine

🇭🇰 Hong Kong 💰 Bitcoin ETF Issuer ChinaAMC believes in-kind creation will attract not just institutional and retail investors but Bitcoin miners and large holders 🚀 https://t.me/Bitcoin_Magazine

💰 Standard Chartered says bitcoin price could fall further to $50,000 Bitcoin's price fall below the $60,000 mark could be the start of further pain to come, according to Standard Chartered Bank. "BTC's proper break below $60K has now reopened a route to the $50-52K range," Geoffrey Kendrick, head of Standard Chartered Bank's forex and digital assets research, said Wednesday in a statement to The Block. "The driver seems to be a combination of crypto-specific and broader macro." Source https://t.me/Bitcoin_Magazine

NEW: 🇭🇰 Bitcoin spot ETF recently went live in Hong Kong https://t.me/Bitcoin_Magazine

🇺🇸 US spot 💰 bitcoin ETF outflows continue with $51.5 million more exiting Spot bitcoin exchange-traded funds in the United States saw more than $51.5 million in net outflows yesterday. Notably, the Grayscale Bitcoin Trust was not the biggest culprit. The ARK 21Shares Bitcoin ETF saw $31.34 million leave the product on April 29, while GBTC experienced $24.66 million in net outflows, per data from SoSoValue. The Fidelity Wise Origin Bitcoin Fund also saw a net outflow of $6.85 million. Source https://t.me/Bitcoin_Magazine

💰 Small Bitcoin holders are accumulating even as prices fall Bitcoin prices fluctuated dramatically over the past month, a fascinating trend emerged among different Bitcoin holder categories. Analysis of Glassnode's latest data reveals that while larger entities were reducing their holdings, possibly due to profit-taking or reaction to market changes, smaller entities did just the opposite. The balance for entities holding between 0.01 - 0.1 BTC saw the most notable increase. Source https://t.me/Bitcoin_Magazine

💰 Bitcoin Could Fall to $50K in ‘Correction Mode,’ Says Analyst Bitcoin prices are in retreat again during Asian trading on Monday morning and analysts are predicting more pain ahead as the correction deepens. Bitcoin has fallen back to more than 15% down from its mid-March peak, dropping to a ten-day low of under $62,000 on Monday morning. On April 28, an analyst feed ‘Stockmoney Lizards’ noted that the halving was over, but bitcoin continues to print red candles. Source https://t.me/Bitcoin_Magazine

🪙 Transaction Fees Plunge to 35% of Bitcoin Miner Revenue Post-Halving: CryptoQuant Transaction fees have fallen from $80 million on the halving day to $6 million as of April 26. The portion of Bitcoin miner revenue coming from transaction fees has fallen significantly after surging on the day of the last halving event. A CryptoQuant report revealed that transaction fees now represent 35% of total miner revenue, a significant decline from the 75% recorded on April 19. Source https://t.me/Bitcoin_Magazine

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💰 DTCC rules out collateral for Bitcoin-linked ETFs The Depository Trust and Clearing Corporation (DTCC) — a financial services company that provides clearing and settlement services for the financial markets — stated that it will not allocate any collateral to exchange-traded funds (ETFs) with exposure to Bitcoin or cryptocurrencies and will not extend loans against them. Source https://t.me/Bitcoin_Magazine

💰 Runes generate over $135 million in fees in first week on Bitcoin network The Runes token standard was recently launched on the Bitcoin network and has generated over 2129 bitcoin ($135 million) in transaction fees within its first week. Runes utilizes Bitcoin’s UTXO model and the OP_RETURN opcode to offer a more efficient tokenization solution for the network than the BRC20 standard (based on the Ordinals protocols). It allows users to mint tokens on top of Bitcoin, which are generally memecoins. Source https://t.me/Bitcoin_Magazine