🔸️ Bitcoin News

🇺🇸 US spot 💰 bitcoin ETFs see $105 million in daily inflows, extending positive streak to 15 days U.S. spot bitcoin exchange-traded funds recorded their 15th consecutive day of net inflows on Thursday, adding $105.12 million. The 11 ETFs have collectively drawn in over $2.28 billion worth of inflows during the period. The cumulative total net inflows till date stand at $13.96 billion. Fidelity’s FBTC led the inflows with $77 million, according to data from SoSoValue. Bitwise’s BITB recorded net inflows of $14 million, while Ark Invest and 21Shares’ ARKB added $11 million. Source @BitcoinAltcoinCryptoNews

💰 Veteran Trader Peter Brandt Predicts 100 Oz of Gold per Bitcoin Veteran trader Peter Brandt, with over four decades of experience, has highlighted bitcoin’s consistent gains against gold since its inception, foreseeing that 100 ounces of gold will be needed to buy a bitcoin. Meanwhile, Peter Schiff has insisted that the cryptocurrency “has underperformed gold for the past 2.5 years.”. Source @BitcoinAltcoinCryptoNews

🪙 Cathie Wood's Ark Invest Halts Spot Ethereum ETF Plans Cathie Wood’s Ark Investment Management has withdrawn from the race to launch a spot ether exchange-traded fund (ETF), as its name was removed from the application filed with 21shares. The ETF, now renamed 21shares Core Ethereum ETF, reflects Ark’s decision not to pursue the ether ETF at this time. Despite this, Ark remains committed to its successful spot bitcoin ETF, which ranks fourth in assets. Source @BitcoinAltcoinCryptoNews

🪙 Mt. Gox Bitcoin Moves Will Cause No Immediate Selling Pressure: CryptoQuant Analysts from the market intelligence platform CryptoQuant say the recent bitcoin (BTC) moves by the defunct crypto exchange Mt. Gox are no cause for alarm and would cause no immediate selling pressure on the digital asset. According to the latest weekly report from the analytics firm, the transfers were executed between Mt. Gox’s trustee addresses and are not a sign that creditor repayments have begun. Source @BitcoinAltcoinCryptoNews

💰 Over 90% of Bitcoin supply remains profitable despite market volatility Bitcoin’s current market trends show a nuanced interaction between price fluctuations and the profitability of entities holding the asset. Recent data from Glassnode reveals a substantial portion of Bitcoin holders remain in profit despite recent volatility — with over 90% of the supply being profitable as of May. This trend indicates that holders are maintaining their positions amid market swings, reflecting a resilient support level for the flagship digital asset. Source @BitcoinAltcoinCryptoNews

💰 Tether purchases $100 million of shares in Bitcoin miner Bitdeer Bitcoin mining and AI cloud solutions firm Bitdeer Technologies Group entered into an agreement with Tether for the private sale of up to $150 million of its shares on Thursday. The deal saw the Nasdaq-listed firm raise $100 million in gross proceeds for the private placement of 18,587,360 Class A ordinary shares, according to a statement. Source @BitcoinAltcoinCryptoNews

💰 Bitcoin Staking Project Babylon Raises $70M Led by Paradigm Bitcoin project Babylon has raised $70 million in funding to advance its plans to build staking on the world's largest blockchain. The funding round was led by Paradigm and included contributions from Polychain Capital and the venture arm of crypto exchange Bullish (also CoinDesk's parent company). Babylon offers bitcoin (BTC) as a staking asset, allowing proof-of-stake chains to acquire funding from the deep reserves stored in BTC. Source @BitcoinAltcoinCryptoNews

💰 BlackRock’s IBIT continues to lead net inflows in spot bitcoin ETFs Spot bitcoin exchange-traded funds in the U.S. recorded a total daily net inflow of $28.32 million on Wednesday. The funds continued to log their 12th consecutive day of inflows, marking the longest streak since the last week of February. The inflows were led by BlackRock’s IBIT, which drew in $24.5 million worth of funds according to data from SoSoValue. Grayscale’s GBTC saw net outflows of $31 million. Source @BitcoinAltcoinCryptoNews

🪙 Long-term bitcoin holders reaccumulating for first time since last December: Glassnode Long-term bitcoin holders are starting to re-accumulate for the first time since December 2023 after multiple months of selling, according to Glassnode data. "Residing just shy of its all-time high, bitcoin continues to consolidate, with long-term holders beginning to re-accumulate coins for the first time since December 2023," a report from the market intelligence firm said today. Source @BitcoinAltcoinCryptoNews

🪙 Long-term bitcoin holders reaccumulating for first time since last December: Glassnode Long-term bitcoin holders are starting to re-accumulate for the first time since December 2023 after multiple months of selling, according to Glassnode data. "Residing just shy of its all-time high, bitcoin continues to consolidate, with long-term holders beginning to re-accumulate coins for the first time since December 2023," a report from the market intelligence firm said today. Source