GBTC again led the outflows, while inflows into BlackRock’s IBIT continued to slow, provision data from Farside show.
Bitcoin’s rally in the past six months will help cushion crypto miners from the effects of the 50% cut in their earned rewards, the report said.
The estimated time left would see Bitcoin’s fourth halving arrive at around 8 p.m. ET today, with the block subsidy dropping to 3.125 BTC.
BitMEX has increased the leverage on its bitcoin perpetual swap, XBTUSD, from 100x to 250x ahead of the halving event.
Yi He, co-founder of Binance, said Changpeng Zhao’s legal standing is “largely peaceful,” according to Binance News.
The hawkish shift in the market sentiment could dampen the demand for risk assets, including cryptocurrencies and technology stocks.
Iran’s first strike on Israel pushed down crypto and risk assets, while leading to a spike in gold.
The world’s largest cryptocurrency fell 2.64% to $60,726 in the last hour, while ether lost 3.6% to dip below the $3,000 resistance line.
The cryptocurrency company founded by BitTorrent’s inventor saw its IPO plans derailed last year by financial woes at its banker, Credit Suisse.
Institutions launching Bitcoin ETFs this year have buoyed the bitcoin price to record levels. Does that mean the impact of the halving — the four-year slashing of the bitcoin reward — will be relatively muted this time, as any pontential bump is “priced in”?
