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Bloomberg strategist Mike McGlone reports that Bitcoin is reinforcing its status as a global alternative currency, as it approaches the $70,000 mark. This development highlights Bitcoin's growing acceptance and its disruptive impact on the traditional financial environment, particularly challenging the role of gold. Bitcoin's value surge, driven by scarcity and the halving event, contrasts with significant outflows from gold ETFs, despite gold's price increase. This underlines Bitcoin's role as a diversification option in investment portfolios, moving away from traditional assets. As Bitcoin approaches its record high, its significance as a global digital currency becomes clearer. Its limited supply, increasing institutional acceptance, and technological advancements are transforming the traditional financial system. source: Bitcoin News #Bitcoin #Investements

Bitcoin Soars Over $63,000 After BlackRock Releases Bitcoin Whitepaper 🔥 💎 #Bitcoin surged nearly 6% after BlackRock, the world’s largest asset manager, released a whitepaper showcasing its potential as a hedge against monetary and geopolitical risks. ⏩ Bitcoin white paper: Describes #Bitcoin as a "unique diversifier" independent of traditional risks, highlighting its decentralized nature as the world’s first "truly open monetary system." ⏩ Price Surge: #Bitcoin hit a low before Bloomberg ETF analyst Eric Balchunas shared the whitepaper on September 18, driving $BTC up by 6%, reclaiming $63,000. ⏩ Future Outlook: Analysts predict #Bitcoin could hit $92,000 by Q4, driven by historical trends. ⏩ BlackRock manages the largest Bitcoin ETF fund, holding $21.4 billion $BTC, over 38% of the market. 🔗 Read more (https://lnkd.in/gad2AKzp) #Bitcoin #BTC #CryptoSurge #BlackRock #BitcoinETF #GeopoliticalHedge

Daily #Bitcoin ETF Inflow = 5.09x New Supply 📈 (01/04/2024) Institutions currently hold 836,233 Bitcoin via #ETFs, equating to over 2.5 years of Bitcoin production at a daily newly supply of 900 BTC. Bloomberg's Eric Balchunas highlighted a tripling in March's trading volume for spot bitcoin ETFs, signaling robust demand from both institutional and retail investors. With an impending Bitcoin #halving set to diminish block rewards, the ensuing scarcity is poised to elevate Bitcoin's value further. Given that over 93% of Bitcoin has already been mined, we're on the cusp of a transformative period in the #crypto landscape. The potential for growth is unstoppable. 🚀 #Bitcoinmining Chart Credit: heyapollo

Spot Bitcoin ETFs in the US garnered a hefty $488.1 million in inflows on June 5, with the Fidelity Wise Origin Bitcoin Fund leading at $220.6 million. Despite this, Google data reveals minimal public interest compared to the 2021 bull run. BlackRock’s iShares Bitcoin Trust saw $155.4 million inflows, while Grayscale Bitcoin Trust recorded $14.6 million despite $17.8 billion outflows since January. Despite Bitcoin's climb past $71,000, Google Trends shows subdued search activity for "Bitcoin" and "Bitcoin ETF". Analysts note declining crypto YouTube viewership, suggesting retail investors are yet to re-enter the market fully. . . . . #bitcoin #spottrading #data #analysis #finance #googletrends #cryptostan #thecryptocounry #ETFs

#Bitcoin breaks its all-time high of $69,000! Reflexivity Research's Will Clemente reports that with the record-breaking Bitcoin price, every single bitcoin investor who had ever bought Bitcoin was in profit at the time. Noelle Acheson says that a market correction could be coming, and FRNT Financial's Stéphane Ouellette says that the current growth is occurring without universal access to Spot Bitcoin ETFs on platforms such as Vanguard. Galaxy's Alex Thorn says that the volume of inflows to the ETFs have exceeded all expectations. IREN's Daniel Roberts points out the underlying assets in Bitcoin ETFs are truly scarce, driving up price. The ETFs have seen record-breaking inflows according to James Seyffart, CFA, CAIA and Eric Balchunas, and Bitcoin has exceeded the market cap of silver. Moody's Investors Service's Rajeev B. points to institutional adoption as a cause for the bitcoin bull run. Crypto Oasis' Faisal Zaidi adds that the bull run may just be gaining momentum ahead of the halving, and TheMinerMag says this is the first all-time high to occur pre-halving. In The Wall Street Journal by Caitlin Ostroff and Vicky Ge Huang 👉 https://lnkd.in/eq4HzCuV #BitcoinMining #renewableenergy #BTC #ESG #sustainability #digitalasset #crypto #BitcoinETF #ETF #SBC

"Bitcoin's Resilience: Large Mt. Gox Transfer Has Minimal Impact on Price" A wallet associated with the Mt. Gox exchange recently transferred 27,871 Bitcoin, valued at $2.8 billion, coinciding with Bitcoin's rise above $100,000. Despite the large transaction, the move did not lead to significant volatility, highlighting traders' resilience. Typically, such massive transfers can cause market fluctuations, but this time, analysts noticed little to no impact on Bitcoin's price. This reaction suggests a strong sense of confidence and bullish sentiment among investors, who seem unfazed by large-scale movements. The stability of Bitcoin’s value amid such a major transfer further reinforces the growing maturity of the market and the increasing trust in the cryptocurrency’s long-term potential. The event demonstrates how the market has evolved, with investors showing greater calm in the face of potentially disruptive movements.

Bitcoin Protects Purchasing Power! 🛡 Over the past decade, #Bitcoin has outperformed traditional assets in preserving purchasing power and outpacing inflation. But while the leading digital asset's inflation protection qualities are well known by now, it is notable that Bitcoin has outperformed asset classes like precious metals and bonds, over the long term, on an absolute basis too. Bitcoin's strong long-term performance highlights its potential to fulfil the roles of portfolio returns enhancement and asset protection. Meanwhile, the success of another #BitcoinHalving testifies to the asset's programmatic ability to serve as a long-term store of value. As Bitcoin adoption accelerates, investors should consider its key features, and explore how it can potentially enhance returns in a well-diversified portfolio. To learn more about how Bitcoin can perform in a portfolio context, be sure to read our full report below! #InflationHedge #DigitalStoreofValue #digitalassets #investmentmanagement

Bitcoin is $67k! 🔥 Ryan Lee, Chief Analyst at Bitget Research, says that institutions going 'overwhelmingly bullish', as the trading volume of nine Bitcoin ETF's in the US hits new highs of $3.2 billion. “With 54 days remaining until the Bitcoin halving and the potential interest rate cut by the Fed later this year, expect robust support at $50,000. Anticipate some fluctuations as we approach March, a month poised for Bitcoin to hit historical highs.” For more insights check out the recent publications in CoinDesk, Benzinga, BeInCrypto and Yahoo Finance, where Ryan was featured. #bitcoin #crypto

Bitcoin Breaks $60K Amidst Strong Demand from US Investors Bitcoin has recently pierced the $60K mark, a level not seen since November 2021. This surge is attributed to significant demand from large US investors, as evidenced by the rising Coinbase premium and the growing holdings among large Bitcoin holders (those with balances over 1K Bitcoin). The influx of new capital into Bitcoin is just starting. The share of investment from short-term holders has increased to 35% from 25% in October 2023, aligning with the upward price trends. This indicates a robust and growing interest in Bitcoin as an investment vehicle. However, caution may be warranted. Certain indicators suggest the market could be approaching overheating: - Traders' unrealized profit margins are at extremely high levels, suggesting a potential for correction. - Bitcoin has hit a short-term valuation target of $56K based on network activity. - The cost of opening new long positions in perpetual futures markets has risen sharply, indicating high speculation. Join the Discussion | CryptoQuant #cryptoquant #btc #bitcoin #crypto

📢 MCO News Wave 🌊 Bitcoin ETFs are nearing a major milestone, set to hold close to 1 million BTC, rivaling the amount held by Bitcoin’s creator, Satoshi Nakamoto. This surge is driven by institutional investors and highlights the growing acceptance of Bitcoin within traditional finance. Major ETFs like BlackRock's iShares Bitcoin Trust and Fidelity’s Wise Origin Bitcoin Trust have contributed to this substantial accumulation, with the trend showing no signs of slowing. Analysts believe that as ETFs continue to expand their BTC holdings, they could shape the future volatility and liquidity of the market, potentially stabilizing Bitcoin as it gains further traction in the mainstream. However, some warn that this large-scale accumulation might not prevent new dips or market crashes. How do you think this will shape Bitcoin's price trends moving forward? #Bitcoin #BTC