Coinbase experienced its second-largest Bitcoin outflow this week, with two massive withdrawals totaling 33,800 BTC, potentially signaling bullish sentiment and institutional interest, despite a recent market correction.
Billy Markus, the co-founder of Dogecoin, playfully urged Bitcoin to reach $1 million while he sleeps, igniting discussions within the crypto community about Bitcoin’s potential for disruption and unprecedented growth.
Unfazed by Bitcoin’s recent slide, investment firm Bernstein has raised its year-end Bitcoin price target to $90,000 and boosted its outlook on cryptocurrency mining stocks, citing strong ETF inflows, aggressive miner capacity expansion, and record miner revenues.
The shocking story of how a Chinese takeaway worker, Jian Wen, became embroiled in the UK’s biggest-ever cryptocurrency seizure, leading police to uncover over £3 billion worth of Bitcoin linked to a massive Chinese fraud scheme.
Bitcoin’s hodler net position change metric, a gauge of long-term investor confidence, has plunged to a three-year low, triggering intense speculation about the future actions of staunch supporters and potential shifts in broader market sentiment.
Bitcoin and other major cryptocurrencies experienced a sharp rally, with Bitcoin surging past $67,000, after the U.S. Federal Reserve maintained its outlook for three rate cuts by the end of the year, alleviating market concerns of a more hawkish stance. The Fed’s dovish tone and commitment to its rate cut plans provided a boost to risk appetite among investors.
Major cryptocurrencies Bitcoin, Ethereum, and Dogecoin witnessed sharp declines as capital outflows from the Grayscale Bitcoin ETF raised concerns over waning demand. Investors are closely monitoring the shifting narrative around capital flows into the crypto space.
Bitcoin’s price could dip in the coming weeks leading up to the next halving event on April 20, mirroring historical patterns. However, crypto executives from Binance and Crypto.com remain bullish, predicting Bitcoin will surpass $80,000 by year-end, fueled by institutional demand and reduced supply.
Bitcoin experienced its most volatile weekend in a year, slipping from an all-time high of $72,760 to as low as $64,550 before recovering to around $68,300. Meanwhile, Solana stole the spotlight, surging 36% over the past week and leading market gains.
After charting impressive gains and recording new all-time highs, Bitcoin’s price has violently retraced to a weekly low of $67,000, dragging altcoins like Dogecoin and Shiba Inu down with it, leading to nearly $700 million in liquidated trader positions within the past 24 hours.
