🔸️ Bitcoin News

🏦 Coinbase reports system-wide outage, ensures 'funds are safe' Cryptocurrency exchange Coinbase is experiencing a “system-wide outage,” and the company is investigating the issue. The exchange stated in an X post that its team is working on a solution. “Your funds are safe,” the firm added. The crypto exchange previously encountered a temporary technical glitch in March when its trading platform experienced problems amid heavy trading, including showing some users that their account balance was $0. Source @BitcoinAltcoinCryptoNews

🇺🇸 Crypto prime brokerage firm Falcon Labs settles with CFTC over registration violation Crypto prime brokerage firm Falcon Labs, Ltd. settled with the U.S. Commodity Futures Trading Commission after the agency said it should have been registered, marking the first case of its kind. The CFTC issued an order against the Seychelles-based firm and subsequently settled, according to a statement released on Monday. The agency said Falcon Labs was an "intermediary facilitating its customers’ trading on various digital asset exchanges." . Source @BitcoinAltcoinCryptoNews

🇺🇸 US spot bitcoin ETFs return to net inflows following four weeks of outflows Spot bitcoin exchange-traded funds in the United States returned to net inflows of $116.8 million last week after enduring four consecutive weeks of outflows totaling more than $1 billion. Grayscale’s converted Bitcoin Trust was the only spot bitcoin ETF to register net outflows last week, with $171.1 million leaving the higher-fee fund. That came despite GBTC breaking its 78-day outflow streak with $63 million worth of net inflows on May 3 and a further $3.9 million last Monday. Source @BitcoinAltcoinCryptoNews

💰 Spot Bitcoin ETFs Outflows Threaten Price Plunge, Says Gold Advocate Peter Schiff! Schiff anticipates an explosive rise Bitcoin ETFs in gold and silver prices, emphasizing their potential as lucrative investment opportunities. In contrast to his bullish outlook on precious metals, Schiff remains skeptical about Bitcoin’s prospects, referring to it as “dead money.” Instead, he urges investors to capitalize on what he believes could be the largest bull market in precious metals in history. Source @BitcoinAltcoinCryptoNews

💰 Grayscale Bitcoin ETF Continues To See Negative Outflows Of Over $100 Million According to data from SoSoValue, on May 10, total net outflows from spot Bitcoin ETFs amounted to $84.6581 million. This marks the second consecutive day of outflows for Bitcoin ETFs, with Grayscale Bitcoin ETF reporting an additional $103 million in outflows on Friday. In contrast, BlackRock’s iShares Bitcoin Trust (IBIT) experienced an inflow of $12.4363 million, and Fidelity’s FBTC saw $5.3039 million flowing in. Source @BitcoinAltcoinCryptoNews

💰 JP Morgan, Wells Fargo latest major banks to disclose Bitcoin exposure via ETFs JP Morgan and Wells Fargo are the latest major global banks to disclose exposure to Bitcoin via some of the spot BTC exchange-traded funds launched in January. The two lenders filed their 13F disclosures on May 10, revealing a modest investment in the Bitcoin ETFs. JP Morgan disclosed $731,246 of spot Bitcoin ETF investments in BlackRock’s IBIT, Bitwise’s BITB, Fidelity’s FBTC, and Grayscale’s GBTC. The majority of the amount — $477,425 — was invested in IBIT. Meanwhile, Wells Fargo reported a $141,817 investment in Grayscale’s GBTC during the first quarter. Source @BitcoinAltcoinCryptoNews

💰 Bitcoin options traders bet price could surpass all-time high by end of June, analyst says Based on recent options data from Binance, bitcoin open interest is concentrated at a strike price of $75,000 for the end-of-June expiry, an analyst said. According to Ruslan Lienkha, the chief of markets at Cyprus-based exchange YouHodler, the open interest concentration focuses on bitcoin's all-time high. Bitcoin reached its all-time high of over $73,000 in the middle of March, according to The Block's Price Page. Source @BitcoinAltcoinCryptoNews

💰 Bitcoin and Ethereum ETFs in 🇭🇰 Hong Kong diverge According to Farside data, the digital asset exchange-traded funds (ETFs) market in Hong Kong (HK) experienced a divergence in flows on May 8. While Bitcoin (BTC) ETFs saw overall inflows, Ethereum (ETH) ETFs saw outflows. Farside data shows that the BTC ETFs in HK attracted a combined inflow of $6.3 million on May 8. Bosera’s BTC ETF led the way with a $6.2 million inflow, bringing its total net inflows to $15.8 million. Source @BitcoinAltcoinCryptoNews

💰 Post-Halving, Bitcoin Difficulty Drops Significantly; Hashrate Dips Below 600 EH/s The Bitcoin network experienced its second difficulty adjustment post-halving and the most significant reduction this year. Additionally, the network’s total hashrate fell below the 600 exahash per second (EH/s) mark for the first time since late March. Over the forthcoming two weeks, Bitcoin miners will see some respite as the difficulty level has decreased by 5.62%, moving from 88.10 trillion to the present 83.15 trillion. This change marks the most substantial reduction in 2024 and came after the halving on April 19, 2024. Source @BitcoinAltcoinCryptoNews

💰 Core Scientific self-mined over $175 million of bitcoin in Q1, swings to profit It's been a busy first quarter of the year for North American bitcoin miner Core Scientific. First, its shares began trading again on the Nasdaq after emerging from bankruptcy and now the company has reported a major turnaround that includes posting $210.7 million in net income. That compares to the first quarter of last year when Core Scientific reported a loss of roughly $400,000. Source @BitcoinAltcoinCryptoNews