Crypto Magazine

💰 Bitcoin's Rally to $64,000 Triggers $26.65 Million Short Squeeze in 4 Hours The price of bitcoin (BTC) increased by 4.5% against the U.S. dollar on Friday, rebounding from last week’s decline when it fell beneath the psychological $60,000 mark. Despite this 4.5% rise over 24 hours, BTC prices remain 4.3% below their level from seven days prior. After stabilizing for nearly two days, the upward movement of BTC began at 8 a.m. Eastern Time (ET) on Friday. Source @CryptoMagazine

💰 Bitcoin holds above $59,000 as short liquidations spike Bitcoin short liquidations spiked above $24 million in the past 24 hours as the price rebounded from a multi-month low of below $57,000 on Monday. A total of $33 million in bitcoin positions were liquidated in the past 24 hours amid the volatility. The wider cryptocurrency market experienced over $112 million in liquidations during the same period. Of these combined crypto liquidations, the vast majority — around $70 million — were short positions, according to Coinglass data. Source @CryptoMagazine

💰 Lightspark CEO Expects Bitcoin to Dominate AI-Related Monetary Transactions During the Bitcoin for Corporations segment at the Microstrategy World 2024 event in Las Vegas, Marcus shared insights on the fusion of AI and bitcoin (BTC). He argued that BTC could eliminate the inefficiencies and “friction” inherent in fiat currencies, predicting that AI agents will adopt this “digitally native” medium for value exchange. Source @CryptoMagazine

💰 BlackRock Sees Sovereign Wealth Funds, Pensions Coming to Bitcoin ETFs Financial institutions are holding diligence and research conversations, with BlackRock playing an educational role, said Robert Mitchnick, the firm's head of digital assets. BlackRock has been talking about bitcoin to these sorts of institutions for several years. While becoming the biggest spot bitcoin ETF would be an impressive milestone, BlackRock says it isn’t really focused on the size competition with Grayscale’s GBTC. Source @CryptoMagazine

🇭🇰 Hong Kong 💰 Bitcoin ETF Issuer ChinaAMC believes in-kind creation will attract not just institutional and retail investors but Bitcoin miners and large holders 🚀 @CryptoMagazine

💰 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 @CryptoMagazine

💰 Bitcoin market absorbs 1 million BTC in 5 months Bitcoin currently trades approximately 20% below its all-time high, the more compelling narrative unfolds within the dynamic flow of coins between short-term holders (STHs) and long-term holders (LTHs). LTHs, holding Bitcoin for over 155 days, typically accumulate during bear markets and distribute during bulls. Their supply peaked at 14.9 million BTC in December 2023 before dropping to 13.9 million in April 2024. Source @CryptoMagazine

💰 Bitcoin price on track for first monthly loss since August Bitcoin seems to be heading towards its first monthly loss, potentially ending a seven-month streak where it closed each month at a higher value than it started — a trend that has persisted since August. The largest digital asset by market capitalization commenced April with a price hovering around $70,000. However, as the month draws to a close, bitcoin is presently hovering just above the $61,000 mark — indicating a monthly decline of over 12%. Source @CryptoMagazine

💰 MicroStrategy Bought 122 Bitcoin In April, Now Holds 214,400 BTC MicroStrategy, a leading business intelligence and software company, has continued its steadfast commitment to Bitcoin by purchasing an additional 122 BTC in April at a total cost of $7.8 million, Founder & Chairman Michael Saylor announced today. The company initially entered the Bitcoin market in August 2020, making a significant initial investment of $250 million into BTC. Source @CryptoMagazine

💰 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 @CryptoMagazine