Bitcoin ⚡️Action | Crypto News Feed

🥇 Grayscale's GBTC spot bitcoin ETF sees $63 million of inflows, ending 78-day outflow streak Grayscale’s GBTC spot bitcoin exchange-traded fund witnessed its first-ever (since it was converted) daily net inflows on Friday, ending a 78-day run of consecutive outflows. GBTC’s cumulative outflows since the U.S. spot bitcoin ETFs began trading on Jan. 11 totaled more than $17.5 billion by May 2, but the higher-fee fund suddenly generated $63 million worth of inflows on Friday, according to data from Farside Investors and CoinGlass. Source 🔊 @Bitcoin_Action ⚡️

💰 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 🔊 @Bitcoin_Action ⚡️

🇺🇸 Texas A&M Professor Korok Ray presents that 💰 Bitcoin “is the first time in the history of human kind where we see the value of scarcity illustrated” 🔊 @Bitcoin_Action ⚡️

💰 MicroStrategy decentralized identity solution leveraging Ordinals attracts criticism from core Bitcoin proponents MicroStrategy’s chairman, Michael Saylor, revealed the firm’s ambitious plan to introduce a decentralized identity solution called MicroStrategy Orange on the Bitcoin network during his Bitcoin For Corporations talk on May 1. This initiative aligns with MicroStrategy’s transformation into a Bitcoin-focused development company. The Virginia-based company holds 214,400 Bitcoin, valued at around $12.4 billion, making it the largest public holder of the flagship digital asset. Source 🔊 @Bitcoin_Action ⚡️

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

💰 Bitcoin begins May with plunge to two-month low as crypto market sees widespread losses The crypto market started the new month of May in red, with Bitcoin’s price plunging to a two-month low of under $56,500. This decline extends the downtrend from April, marking Bitcoin’smost challengingt month since the November 2022 crash triggered by the collapse of the FTX exchange. Bitcoin’s slide mirrors a broader market trend, with major cryptocurrencies like Solana, Ethereum, Cardano, and Avalanche each seeing losses exceeding 7% during this period. Source 🔊 @Bitcoin_Action ⚡️

💰 Bitcoin reclaims key support above $60,000 after attempt to sweep March lows Bitcoin (BTC) reclaimed the crucial $60,000 support level in a show of resilience after bears made an attempt to sweep the lows set in March at $59,000, based on CryptoSlate data. The flagship crypto was trading at $60,800 as of press time after falling more than 5% to roughly $59,100 on April 30 as New York closed out the trading day. The wider crypto market also saw significant losses for the day, with most of the major caps down between 5% to 10%. Source 🔊 @Bitcoin_Action ⚡️

💰 MicroStrategy continues stacking Bitcoin with $1.65 billion purchase during Q1 MicroStrategy’s first quarter earnings report showed the firm bought roughly 25,250 BTC for $1.65 billion at an average price of $65,232 per BTC during the first three months of the year. With its latest purchases, MicroStrategy now holds 214,400 BTC in total — equating to roughly 1% of the total Bitcoin supply. The firm reported a downturn in revenue but continued to bolster its Bitcoin holdings, highlighting a steadfast commitment to its strategic investment in the flagship crypto. Source 🔊 @Bitcoin_Action ⚡️

💰 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 🔊 @Bitcoin_Action ⚡️

💰 Bernstein says slowing Bitcoin ETF flows are a 'short-term pause,' maintains $150,000 price target Analysts at research and brokerage firm Bernstein aren’t worried about the slowing spot bitcoin exchange-traded fund flows, expecting the trend to be a “short-term pause” before bitcoin resumes its bull run toward their $150,000 target by the end of 2025. “Bitcoin ETF flows have slowed down, with the ‘halving’ catalyst and successful ETF launch, pulling forward returns YTD (up 46%),” Gautam Chhugani and Mahika Sapra wrote in a note to clients on Monday. Source 🔊 @Bitcoin_Action ⚡️