26 Apr 2025, 05:29

Bitcoin ETFs on $3B ‘bender,’ notch first full inflow week in 5 weeks

Spot Bitcoin exchange-traded funds (ETF) in the United States saw over $3 billion in inflows this week, marking the first full week of consecutive inflows in five weeks. On April 25, the 11 spot Bitcoin ( BTC ) ETFs saw $380 million in inflows, bringing the total for the week to around $3.06 billion over five consecutive inflow days, according to Farside data. The last time spot Bitcoin ETFs had a full week of inflow days was the week ending March 21. Strong inflow week turns April into positive month ETF analyst Eric Balchunas said in an April 24 X post that “ETFs are on a Bitcoin bender.” “What’s really notable here is just HOW FAST the flows can go from 1st gear to 5th gear,” Balchunas said, forecasting that some of those flows may be due to the “basis trade back in effect.” Source: Satoshi Stacker Amid ongoing financial and macroeconomic uncertainty, spot Bitcoin ETFs have experienced a volatile April, with nine out of the total 18 trading days so far being outflow days. However, a strong surge of inflows over the past week has turned the month positive, bringing total net inflows for April to approximately $2.26 billion. On the same day, Strategy founder Michael Saylor reportedly said at the Bitwise Invest Bitcoin Corporations Investor Day that BlackRock’s iShare Bitcoin ETF “will be “the biggest ETF in the world in ten years.” Related: 5 Bitcoin charts predicting BTC price rally toward $100K by May Just two days prior, on April 23, BlackRock’s iShare Bitcoin ETF (IBIT) was awarded the “Best New ETF” at the annual etf.com ETF awards. IBIT was also the recipient of Crypto ETP of the year. Meanwhile, Bitcoin’s spot price continues to hover around the $95,000 price level, currently trading at $94,613 at the time of publication, according to CoinMarketCap data. Institutions are continuing to raise their bullish price targets. Billion-dollar asset manager ARK Invest recently raised its “bull case” Bitcoin price target from $1.5 million to $2.4 million by the end of 2030, driven largely by institutional investors and Bitcoin’s increasing acceptance as “digital gold.” ARK’s “bear” and “base” case scenarios for the price of Bitcoin were also bumped up to $500,000 and $1.2 million. Magazine: Pokémon on Sui rumors, Polymarket bets on Filipino Pope: Asia Express

26 Apr 2025, 04:24

Playing The Bitcoin Breakout With BITU

Summary Bitcoin's chart shows a constructive trend, with animal spirits returning, suggesting a potential rally above $100k per coin. Bitcoin's correlation with tech stocks has increased since spot ETFs were approved. That said, it remains a strong anti-fiat asset as global M2 rises. Technical indicators are positive, with Bitcoin breaking key resistance levels and moving averages, signaling a potential upward price movement. ProShares Ultra Bitcoin ETF offers a leveraged exposure to Bitcoin's rally, but it's crucial to understand the risks of 2x leveraged ETFs. In my recent coverage of Bitcoin ( BTC-USD ) I've held a more cautious view due to a variety of factors. Among other things, the capital flow story was deteriorating through March and the chart appeared to be going through a consolidation phase that allowed for more price discovery between the $75k and $87k per coin range. After two months, Bitcoin's chart looks far more constructive and animal spirits appear to be returning to the market. In this article, we'll look at Bitcoin's recent correlation with US equities, implications from the daily and weekly price charts, as well as why I think the ProShares Ultra Bitcoin ETF ( BITU ) can be a useful tool for leveraging a Bitcoin rally back over $100k per coin. Correlations Bitcoin's correlation with tech stocks has been trending higher since spot ETFs were approved in the United States in January 2024: BITO, QQQ 30 Day Rolling Correlation (Portfolio Visualizer ) While there have been occasional dips in that correlation throughout the last 15 months, BTC has indeed had a closer relationship with the equity market than it has with the something like Gold ( XAUUSD:CUR ) over the last three and half years: Correlations BITO QQQ SPY GLD ProShares Bitcoin ETF ( BITO ) 1 0.44 0.43 0.11 Invesco QQQ Trust ( QQQ ) 0.44 1 0.96 0.14 SPDR S&P 500 ETF ( SPY ) 0.43 0.96 1 0.16 SPDR Gold Shares ( GLD ) 0.11 0.14 0.16 1 Source: Portfolio Visualizer, Asset correlations for time period 10/19/2021 - 04/24/2025 based on daily returns This is perhaps to the chagrin of Bitcoiners who view the asset as the digital equivalent of Gold - the latter of which has been on a rocket ship ride since breaking above $2,000 per ounce in early 2024. However, while investors/speculators can debate Bitcoin's past, present, and future as a 'safe-haven' asset, there is very little doubt in my own mind that Bitcoin continues to be a terrific anti-fiat trade. And history shows that as global M2 rises, the fiat-denominated price of BTC increases: BTC vs Global M2 (BGeometrics) Thus, as global M2 continues to rise, it stands to reason that BTC should follow. Consider the last time global M2 growth hit the 6% level - where it again currently stands now - BTC nearly doubled from $57k per coin in September 2024 to well over $100k in early 2025. To be clear, none of this means the same has to happen again, but given the level of debt throughout the global economy and the propensity for global governments to print when the going gets tough, BTC is not an asset that I think would be wise to short. Especially given what I see to be a clear technical breakout here in late-April. Technical Viewpoint When I look at Bitcoin technical indicators, I generally like to keep daily and weekly time-frames as the primary drivers of my decisions. Looking at the daily chart first, I see several positive signs: BTC Daily Chart (TrendSpider) Bitcoin held the 50-day MA for 4 straight sessions before moving convincingly higher on April 21st The coin has rallied through both the 100 and 200 day MAs in the sessions since It has taken out horizontal resistance at $90k It broke above trend-line resistance that dates back to January And the 'Crypto Fear and Greed' index has moved convincingly out of fear and into greed Shifting to the weekly chart, I've typically looked to the 8 and 20-week moving averages as my favorite indicators for increasing or decreasing exposure in the asset and its proxies. BTC Weekly Chart (TrendSpider) As of article submission, the weekly chart setup looks terrific. After battling with the 8-week MA for 4 consecutive weeks, we have a clear breakout above the 8 week and 20 week with our current candle. Something to keep in mind is the 8 week is still below the 20. But it does appear as though the 8-week MA will generate a week-on-week increase for the first time since February. Given everything I just laid out, I think it's reasonable to expect the price to head upward. Why BITU? I have covered BITU for Seeking Alpha in the past. For more of a fund-oriented view of the product, I'd encourage readers to get a proper sense for the risks associated with 2x leveraged ETFs. These are not products that are intended for long term holding, and they will decay over long periods of time due to daily re-balancing. Comparing BITU to a similar 2x fund as well as other Bitcoin-related ETFs, BITU is on the smaller side at under $1 billion in AUM: Fund Name Inception Expense Ratio AUM ProShares Ultra Bitcoin ETF 04/01/2024 0.95% $933.71M 2x Bitcoin Strategy ETF ( BITX ) 06/27/2023 1.90% $2.39B iShares Bitcoin Trust ETF ( IBIT ) 01/05/2024 0.25% $54.48B ProShares Bitcoin ETF 10/18/2021 0.95% $2.40B Data by YCharts Data by YCharts

26 Apr 2025, 04:00

How To Price Bitcoin? BlackRock Exec Explains

Bitcoin should be valued as “an uncorrelated asset that benefits when the world gets messier,” BlackRock’s US Head of Equity ETFs Jay Jacobs told CNBC in an interview on Thursday. “Crypto over the long run is decoupled from US tech stocks,” Jacobs said, stressing that short-term market stress can mask the difference but that “the long-term correlation between US stocks and Bitcoin is more like two or three percent.” He argued that what pushes equities higher—“higher growth, higher certainty, lower geopolitical risk”—is the mirror image of the forces that move Bitcoin. “Bitcoin thrives when you have more uncertainty and are looking for something that’s going to behave differently, so fundamentally they should behave like an uncorrelated asset.” BTC was changing hands just under $94,000 during Jacobs’ appearance, extending a rally that has added roughly 150% since spot-ETF approvals early last year. Bitcoin Rises Because Of ‘Mega-Forces” Jacobs tied price behaviour directly to flows. “We would think over the long term, if this trajectory of greater uncertainty around the world continues, things like gold and Bitcoin should continue to go up.” He noted that investors are repositioning accordingly: “We’ve seen significant inflows into gold ETFs; we’ve seen significant inflows into Bitcoin, and this is all because people are looking for those assets that will behave differently.” Related Reading: Bitcoin Reclaims Key Levels – New ATHs May Be Closer Than Expected The biggest beneficiary has been BlackRock’s own iShares Bitcoin Trust (IBIT), which on 23 April absorbed $643 million of net creations—its largest one-day haul since January—lifting the fund’s assets to roughly $54 billion. Jacobs framed the rush into hard assets as part of a longer geopolitical realignment. “If you look at central banks around the world, a continued movement towards diversification beyond just holding dollars is something that’s been happening for decades… the switch from just holding dollars to holding gold to looking at other types of assets like Bitcoin is a trend that’s been years in the making.” Central-bank gold purchases illustrate the shift: net buying topped 1,044 tonnes in 2024, the third consecutive year above the thousand-tonne mark, double the average of the previous decade. He linked those reserve moves to BlackRock’s 2023 “mega-forces” framework, which identified geopolitical fragmentation as a secular driver of returns. “That mega force is materialising in policies like reshoring in the United States and, I think, directly related to that fragmentation has been the rise of things like Bitcoin, as people see more destabilisation in geopolitics resulting in the need for more alternative assets.” Related Reading: Déjà Boom—Arthur Hayes Says Bitcoin’s 2022 Rally Setup Is Back BlackRock’s influence is difficult to overstate: the firm ended the first quarter with a record $11.6 trillion under management. By pairing that scale with a public thesis that Bitcoin’s fair price rises as uncertainty deepens, the asset-manager is effectively codifying a valuation model in which scarcity and sanction-resistance—not discounted cash flows—set the marginal price. As Jacobs put it, the market is “looking for alternatives—parts of the portfolio that are going to behave separately from stocks and bonds.” With IBIT now swallowing more BTC each day than miners can produce post-halving, his remarks may offer the clearest blueprint yet for how the world’s largest asset manager thinks about pricing the world’s largest cryptocurrency. At press time, BTC traded at $94,510. Featured image created with DALL.E, chart from TradingView.com

26 Apr 2025, 02:30

Convert BTC, ETH, XRP & SOL to Cash Instantly – Remittix Is Revolutionizing Crypto Transfers

There are loads of cryptos out there, but the big players like Bitcoin (BTC) and Ripple (XRP) still rule the market. Ripple’s actually set to outperform most of the competition, with its game-changing use case and growing network. Now, there’s a new kid on the block, Remittix (RTX) coming in hot with a fresh idea called PayFi. Remittix already looks ready to do so much more with its truly innovative approach to cross-border payments . A full technology stack makes it one of the top cryptos for global financial transactions. Luckily, Remittix is still in presale and even after raising over $14.5 million so far, it’s available at just $0.0757. Remittix – The Future of Instant Crypto-to-Fiat Transfers Remittix is a platform designed to simplify the transition between fiat and crypto. It enables users to send fiat to any bank account worldwide with just a click from their crypto wallets, facilitating crypto-to-fiat transfers quickly and seamlessly. One of Remittix’s strongest USPs is its ability to provide financial inclusivity , particularly to the unbanked. In simple words, Remittix removes barriers by streamlining the process of transferring funds from crypto to fiat. Its role in bridging the gap between the two systems is crucial for those seeking a more efficient way to manage their finances across borders. PayFi System: Redefining Cross-Border Payments with Transparency and Speed The Remittix Pay API is a solid tool for businesses and freelancers who want to accept crypto payments and settle them in fiat without the hassle. It makes it super easy for companies to get paid in crypto, while still settling everything in fiat, such as dollars or euros. For freelancers, this is a game-changer because they can send out invoices in digital currencies but get paid in stable fiat, without worrying about crypto price swings. What’s really cool about Remittix is that it supports over 40 fiat currencies and more than 50 crypto pairs. This gives businesses the flexibility to tailor the system to their needs. How Remittix Supports the Underbanked Remittix is all about helping people who don’t have easy access to traditional banking systems. In a lot of places, people can’t even get to a bank, let alone use basic financial services. By operating as a platform that’s available 24/7, it doesn’t need to depend on the typical banking systems. Even for users who don’t have access to a traditional bank account, it’s still possible to send or receive money across borders. It’s all about breaking down the usual barriers and making payments simpler and faster, no matter where you’re at or what you’ve got in your account. Conclusion In a world where traditional payments are slow and costly, Remittix is really making it better in tangible ways. By making crypto-to-fiat transfers easy, fast and accessible, it could very quickly become a go-to solution for people and businesses globally. With its focus on financial inclusion and supporting the underbanked, Remittix is changing how we think about global transactions. If you haven’t checked it out yet, now’s the time, as its potential is only just starting to unfold. Don’t miss out on this opportunity, as the level of real-world utility backing this project is rare. Discover the future of PayFi with Remittix by checking out their presale here: Website : https://remittix.io/ Socials: https://linktr.ee/remittix

26 Apr 2025, 01:36

Swiss National Bank Declines Bitcoin Reserves, Citing Liquidity and Volatility Concerns

In a recent statement reported by Coindesk on April 26th, the Swiss National Bank (SNB) has declined to incorporate Bitcoin into its reserve holdings. This decision stems from persistent concerns

26 Apr 2025, 01:00

OKX Expands into Payments with OKX Pay Wallet Launch Following US Market Re-Entry

OKX Pay Wallet will launch next week, focusing on stablecoin payments within the OKX app. OKX enters the U.S. market with a new headquarters in San Jose after settling compliance issues. Roshan Robert appointed CEO of OKX U.S. to lead regulatory engagement and compliance strategy. Major crypto exchange OKX is getting ready to launch a new payment service called OKX Pay Wallet. OKX Founder and CEO Star Xu announced the upcoming launch via a post on X, stating it’s scheduled for next week. Xu sees this as a key step toward wider crypto use, calling it “the road to billion-user crypto adoption.” This announcement comes after OKX separated its DeFi and self-custody wallet features into a standalone OKX Wallet app last month. OKX Pay Wallet Features: Stablecoins, P2P & Fiat Ramps While full details are still emerging, Xu shared screenshots showing some core features. Importantly, OKX Pay Wallet will be built into the existing OKX exchange app, not released separately. Based on Xu’s post, the wallet aims to make crypto payments easier using stablecoins like USDT and USDC. It will support peer-to-peer (P2P) transfers and payments to merchants, likely using QR… The post OKX Expands into Payments with OKX Pay Wallet Launch Following US Market Re-Entry appeared first on Coin Edition .