Trump-Backed Fund Loses $110M on Crypto
World Liberty Financial, backed by Donald Trump, reports a loss of $110 million from $336 million invested in cryptocurrencies. Most losses (65%) stem from Ethereum, a key asset in their portfolio. Meanwhile, Kraken plans IPO for early next year, seeking $100 million in investments. The US Senate of Utah has passed a cryptocurrency integration law, allowing bitcoin mining and staking without government interference. Binance has blocked a market maker for manipulative actions regarding certain crypto projects. Read more
#Crypto#Ethereum#IPO#Kraken#Bitcoin#Utah#Blockchain#CryptoLaw#VC#Trump#Investment#Binance#Investors
VCs Boost Crypto and Blockchain Funding
Venture capitalists invested approximately $13.7 billion in cryptocurrency and blockchain startups in 2024, a 28% increase from $10.7 billion in 2023. Despite this growth, funding levels remain significantly below the peaks of $33.3 billion in 2022 and $29 billion in 2021. Notably, projects distributed almost $15 billion in airdrops this year.
In other news, Bitcoin spot ETFs experienced a net outflow of $388 million from December 23 to 27, while Fidelity's FBTC ETF saw a net inflow of $183 million. The total net asset value of Bitcoin spot ETFs reached $106.683 billion.
#Crypto#Blockchain#VC#Bitcoin#ETFs#Funding#Airdrops#Investment#MarketTrends#Finance#Startups#Trends #2024 #Growth#Fidelity#WuBlockchain
🚀 Bitcoin's Current Market Correction Appears Milder Than Previous Cycles
On April 12, crypto analyst Axel Adler Jr commented on the current Bitcoin market correction. According to BlockBeats, Adler noted that this correction seems significantly milder compared to the bear markets of the 2017-18 and 2021-22 cycles. However, he cautioned that the current level of correction is insufficient to confirm a market bottom.
In previous cycles, the maximum drawdowns were -54% for 2021-22, -64% for 2017-18, and -43% for 2013-15. The current market dynamics suggest a mild bear market, not yet reaching a deep capitulation phase, making it premature to confirm a bottom or a true market recovery. The analyst emphasized that the current situation is more of a pause in the bear market rather than a reversal of trends.
#Bitcoin#CryptoMarket#MarketCorrection#BearMarket#BitcoinAnalysis#CryptoTrends#AxelAdlerJr#BitcoinBearCycles#CryptoRecovery#BTC
Key Highlights from Last Week's News
➡️ Bitcoin recovers to $105,000
➡️ Donald Trump launches official meme token TRUMP
➡️ Mining difficulty hits historical high
➡️ Ethereum developers announce timelines for Pectra hard fork activation
➡️ Tether announces move to El Salvador and other initiatives
🔗 Detailed news summary: ForkLog Weekly Digest
#Bitcoin#TRUMP#Ethereum#Tether#Mining#Crypto#Blockchain#VC#News#Investment#Whale#Solana#TRX#Altcoins#Defi#Innovation
🚀 Bhutan's Bitcoin Mining Activities May Have Slowed Amid Economic Pressures
Bhutan may have halted or reduced its Bitcoin mining operations after selling 70% of its Bitcoin holdings. According to Foresight News, this move contrasts with other major institutions and sovereign nations that are increasing their cryptocurrency and gold reserves. Bhutan's hydropower is reportedly being redirected to supply electricity to neighboring India rather than being used for Bitcoin mining. Economic pressures, along with declining Bitcoin prices, increased network difficulty, and halving pressures, are squeezing mining profitability. As of now, Druk Holding and Investments, the sovereign wealth fund managing Bhutan's Bitcoin assets, has not publicly commented on any asset transfers or the status of its mining operations.
#Bhutan#Bitcoin#Cryptocurrency#BitcoinMining#Hydropower#EconomicPressure#SovereignWealthFund#MiningProfitability#India#DigitalAssets
🚀 Bitcoin Realized Losses and Profits Indicate Seller Exhaustion Phase
Bitcoin's market activity suggests a potential phase of seller exhaustion, according to CheckonChain data. The cryptocurrency is experiencing realized losses of approximately $400 million daily, with a downward trend. According to NS3.AI, this pattern may indicate a decrease in selling pressure. Concurrently, Glassnode data reveals that realized profits are averaging around $300 million per day over a seven-day period. The realized profit-to-loss ratio has increased to 1.4, suggesting a shift in market dynamics.
#Bitcoin#RealizedLosses#RealizedProfits#SellerExhaustion#Cryptocurrency#MarketActivity#NS3AI#Glassnode#SellingPressure#MarketDynamics#BTC
🚀 Bitcoin's Stability Amid Institutional Buying and Whale Selling
Bitcoin has maintained a price range between $65,000 and $73,000 over the past six weeks. According to NS3.AI, this stability is due to institutional buying counterbalancing selling activities from whales, miners, medium-sized holders, and Bhutan. U.S. spot ETFs have absorbed approximately 50,000 BTC monthly. Meanwhile, miners have sold over 19,000 BTC in the past week, and whale holdings have shifted from an annual accumulation of 200,000 BTC to a reduction of 188,000 BTC.
#Bitcoin#Stability#InstitutionalBuying#WhaleSelling#NS3AI#USSpotETFs#BTC#Miners#WhaleHoldings#PriceRange#Crypto
Czech Central Bank Eyes Bitcoin Investment
Czech National Bank considers Bitcoin investment, stated Governor Aleš Michl. Proposal could diversify 5% of $146 billion reserves. Details: ForkLog
#CzechRepublic#Bitcoin#Crypto#Investments#CentralBank#Finance#AlešMichl#Reserves#ForkLog
🚀 Bitcoin Options Market Shows Limited Concern Ahead of U.S. CPI Release
Bitcoin options markets are anticipating minimal movement, with only a 2.5% change expected in either direction around the upcoming U.S. Consumer Price Index (CPI) release on Friday. According to NS3.AI, this indicates limited trader concern regarding the inflation report. TradingView data reveals that the 30-day Bitcoin Volatility Implied Volatility (BVIV) index has decreased to 46.5%, marking its lowest level since January 31.
#Bitcoin#OptionsMarket#CPIRelease#InflationReport#BitcoinVolatility#BVIV#NS3AI#TradingView#Cryptocurrency#USCPI#BTC
🚀 Whale Adjusts Investment Strategy Across Major Markets
On April 9, a significant investor, known for substantial positions in three major markets, closed all long positions in WTICRUDE and BRENTOIL, according to BlockBeats. Previously, the combined holdings in these oils exceeded $14.1 million, resulting in a loss of over $3.9 million upon closure.
Following this, the investor opened a short position in WTICRUDE at an average price of $92.3, with a current scale of $9.3 million and a liquidation price of $117.6. This adjustment has led to the following main positions across the three markets:
In U.S. stocks, the investor holds long positions in the Nasdaq 100 and S&P 500, with a scale of $38.1 million and an unrealized profit of $430,000.
In the cryptocurrency market, the investor maintains a long position in Bitcoin, with a scale of $12.05 million at an average price of $6,540, resulting in an unrealized profit of $30,000.
In commodities, the investor's short position in WTI crude oil stands at $9.3 million, with an unrealized loss of $290,000.
The address associated with these transactions is 0x8af700ba841f30e0a3fcb0ee4c4a9d223e1efa05.
#Investment#MarketStrategy#WTICrude#BrentOil#USStocks#Nasdaq100#SP500#Bitcoin#Cryptocurrency#Commodities#Trading#Blockchain#BlockBeats#BTC
Payment Delays Cost Businesses Billions
Startup ideas can emerge from ordinary problems. A staggering 50% of invoices go unpaid past the due date, leading to cash flow issues for suppliers. In the US alone, this amounts to $825 billion in challenges. Tech platforms successfully address these issues, with one experiencing a 6x revenue increase last year.
For more info, check the full article here.
Additionally, the Bitcoin dominance index recently hit a four-year high, surpassing 64%.
#PaymentIssues#Startups#Finance#CashFlow#Invoices#TechSolutions#Bitcoin#Crypto#VC
🚀 Charles Schwab to Launch Bitcoin and Ethereum Spot Trading by 2026
Charles Schwab Corporation has announced plans to introduce spot trading services for Bitcoin and Ethereum by the first half of 2026. According to ChainCatcher, the company's President and CEO, Rick Wurster, confirmed this development in a letter to shareholders on Monday. The rollout will begin with a limited test in the second quarter before expanding to Schwab's extensive client base.
In related news, CME Group Inc. is set to expand its cryptocurrency derivatives offerings. Following a record daily nominal trading volume of $8 billion in March, the company will launch futures contracts for Avalanche (AVAX) and Sui (SUI) on May 4, including both standard and micro versions.
Meanwhile, Core Scientific, Inc. has outlined plans to liquidate its Bitcoin reserves by 2026. The company's latest regulatory filings indicate a strategy to monetize nearly all of its Bitcoin holdings to boost liquidity and fund capital expenditures. This move marks a shift towards selling off digital assets to acquire hardware necessary for AI transformation.
#CharlesSchwab#Bitcoin#Ethereum#Cryptocurrency#SpotTrading#CMEGroup#Avalanche#Sui#CoreScientific#DigitalAssets#AITransformation#AVAX#BTC#ETH