A whale withdrew another 598 BTC from Binance
Lookonchain monitoring shows that after the market decline, the whale address starting with 1L7gnfB once again withdrew 598 BTC (approximately $37.78 million) from Binance. Since the BTC price began to decline from its peak on March 14th, the whale has withdrawn a total of 10,158 BTC (approximately $680.83 million) from Binance, with an average price of $67,026.
Coinbase Pro Bitcoin wallet balance has dropped by more than 60,000 in the past 30 days
According to Coinglass data, the current balance of Bitcoin wallet on Binance is 542,309.97 coins, ranking first in CEX; 133.76 coins flowed out in the past 24 hours, 8542.66 coins flowed in the past 7 days, and 2094.72 coins flowed out in the past 30 days.
The total open interest of BTC options is $20.61 billion, and the open interest of ETH options is $8.61 billion.
Coinglass data shows that the nominal value of open positions for BTC options on the entire network is 20.61 billion US dollars, and the nominal value of open positions for ETH options is 8.61 billion US dollars.
10x Research: Bitcoin miners expected to sell $5 billion worth of BTC after halving
10x Research has released an analysis article pointing out that as Bitcoin mining companies prepare to sell most of their Bitcoin inventory, the cryptocurrency market may face significant challenges during the six-month summer calm period. These inventories were carefully built over the past few months and may disrupt market dynamics. The analysis points out that after the halving, Bitcoin miners may liquidate BTC worth $5 billion, and the suspense of this sell-off may last for four to six months, which explains why Bitcoin may consolidate in the coming months.
43 Bitcoin ecosystem projects have received more than $127 million in financing so far this year
Since 2024, the Bitcoin ecosystem has witnessed a large influx of capital into startups. According to Crypto-fundraise.info data, in the past few months, a total of 43 projects centered around Bitcoin have raised a total of $127.19 million in financing.
US Senator: Bitcoin is a reliable option to protect consumer rights
US Senator Marsha Blackburn answered some questions about Bitcoin at a Bitcoin policy summit on Tuesday. The senator was asked what attracted her to Bitcoin, given her background in advocating for consumer rights and privacy. Marsha Blackburn replied, "Bitcoin has many attractive features for me. Firstly, when you talk about freedom and privacy, Bitcoin allows individuals to enjoy these. In addition, Bitcoin's decentralized nature, without government intervention, is also important for people." Currently, one of the hot issues on Capitol Hill is raising credit card fees. People are beginning to pay attention to how expensive it is to use credit cards. Therefore, this provides them with another option, which relieves them of the burden of paying heavy card fees. The senator pointed out that she has "been committed to consumer rights and consumer protection issues for many years," and emphasized that Bitcoin "is a very good and reliable choice." As we move forward, people are becoming more and more familiar with Bitcoin, and more and more accustomed to using it. There will be more transactions accepting Bitcoin as a payment method in daily life. Bitcoin is a reliable choice for protecting consumer rights and consumers.
Bitcoin recovers above $69,000
According to market data, Bitcoin has risen above $69,000, currently trading at $69,003.52, with intraday losses narrowing to 3.12%. The market is volatile, so please be prepared for risk control.
Heatwave
The Bitcoin block reward is forecast to halve on April 20th. This is seen as a bullish catalyst for crypto markets. I agree that it will pump prices in the medium term; however, the price action directly before and after could be negative. The narrative of the halving being positive for crypto prices is well entrenched. When most market participants agree on a certain outcome, the opposite usually occurs. That is why I believe Bitcoin and crypto prices in general will slump around the halving.
BTC Q1 Status Report: Inscription transactions and fees fell 40% and 60% month-on-month, halving will bring Runes token protocol and Epic launch
Messari has released its Q1 2024 Bitcoin State of the Market report, which shows that BTC's price has increased by 69% to $71,310 compared to the previous quarter, reaching a new historical high in April as the new halving cycle approaches. The success of spot BTC ETFs is a driving factor in the price trend, with over $12 billion in inflows in the first quarter. Spot BTC ETFs currently hold 831,000 BTC, or $59 billion. Transaction fees and costs have decreased by 40% and 60% respectively. However, NFT exchanges still have daily sales of over $10 million. The April halving will bring the launch of the Runes token protocol and Epicsat. Miner income (in USD) has increased by 34% compared to the previous quarter, and miners are exploring glyphs and MEV as additional sources of income. Some miners have already conducted bulk sales to meet the needs of Ordinals builders. The TVL of programmable Bitcoin layers has increased by 127% compared to the previous quarter. Dozens of new layers are being built to expand Bitcoin and increase its programmability, with many layers exploring BitVM-based bridging and state verification.
Bitcoin Cats launches upgraded 1CAT staking and points system
Bitcoin ecosystem GameFi platform Bitcoin Cats announced the launch of an upgraded $1CAT staking and points system. Users can earn points by staking 1CAT assets, which will determine eligibility for future airdrops. After staking 1CAT assets, users will gradually accumulate points in five stages: 24 hours, 7 days, 30 days, 90 days, and 360 days, each corresponding to a different points multiplier.
QCP Capital: Market sentiment is turning bullish on Bitcoin
QCP Capital, a crypto market maker, stated in their latest market report that despite limited fluctuations in Bitcoin prices over the past week, market sentiment is turning bullish on Bitcoin due to the following five reasons:
Analyst: Bitcoin will rise to more than $90,000 in a bull market scenario, MicroStrategy stock price rises to $2,700
BTIG analysts say that due to a large bet on Bitcoin, MicroStrategy Inc.'s stock price has soared by 150%. With the surge in cryptocurrency, there is further room for MicroStrategy Inc.'s stock price to rise. Analyst Andrew Harte raised his target price to $1,800 on Friday, which means the stock could rise at least another 10% from recent trading.
Cointime April 5th News Express
1.Mystiko.Network Community Sale Completed, Total $11.25 Million in XZK Sold2.Solana Co-founder Responds to the Sharp Increase in Transaction Failure Rates: Patch Coming Soon3.Ethena USDe market value exceeds 2 billion US dollars, setting a new record4.Du Jun, Executive Director and CEO of Xinhuo & Founder of ABCDE: Xinhuo Technology and ABCDE will invest 100 million US dollars to support blockchain companies that promote social development
5.QCP Capital: Bitcoin is expected to return to $70,000 this week, while Ethereum continues to be weak6.bitSmiley Labs officially launches its independent ecosystem plan, bitUniverse, and reveals its OG pass bitDisc-Black Upgraded Priviledges
7.Avalanche Foundation launches ice-breaking plan, focusing on LST track in the first phase and funding 500,000 AVAX
8.SuperRare Expands into Bitcoin Ordinals with Killer Acid's Psychedelic Art Collection
9.A dormant whale address for 8 months deposited 1,100 BTC into Binance10.Meme exchange DerpDEX.com completes multi-million dollar strategic investment, with participation from ABO Digital and others
Here’s what happened in crypto today
Need to know what happened in crypto today? Here is the latest news on daily trends and events impacting Bitcoin price, blockchain, DeFi, NFTs, Web3 and crypto regulation.
The Bitcoin-Ethereum price ratio suggests that risk appetite for cryptocurrencies may be waning
The ratio of Bitcoin to Ethereum prices implies that the market's risk appetite for cryptocurrencies may weaken. The Bitcoin-Ethereum price ratio has risen to 20, reaching its highest level since April 2021, reflecting a more elastic demand for Bitcoin in the market, while the opposite is true for Ethereum.
ZachXBT won’t assist after memecoin devs throw tokenholders under the bus
“Together, let’s stand against harassment and prioritize mental health in all aspects of our lives,” wrote Complex’s developers as they shut down the memecoin project.
A dormant whale address for 8 months deposited 1,100 BTC into Binance
According to Lookonchain data, a dormant whale transferred 2,000 BTC ($132.41 million) to a new wallet yesterday and then deposited 1,100 BTC ($74.34 million) into Binance. The whale currently holds 8,900 BTC ($597.55 million).
BTC fell below 67,000 USDT again, and the 24-hour increase narrowed to 2.15%
OKX market shows that BTC has once again fallen below 67,000 USDT, currently reporting at 66,852.3 USDT, with a 24-hour increase narrowing to 2.15%.
Binance ends support for Bitcoin Ordinals
Binance NFT marketplace will cease supporting trades and deposits of Bitcoin Ordinals on April 18.
bitSmiley Labs officially launches its independent ecosystem plan, bitUniverse, and reveals its OG pass bitDisc-Black Upgraded Priviledges
At the Bitcoin Day conference, Jayden, co-founder of the BTC ecosystem Defi project bitSmiley Labs, revealed bitUniverse, aiming to create a range of Defi applications centered around its stablecoin, bitUSD.