TheAfrican Crypto

🚨 Crypto ETPs Face Record Outflows: $1.7B Lost in a Week 🚨

The crypto market just witnessed its longest streak of exchange-traded product (ETP) outflows since 2015, with $1.7 billion exiting last week alone. This marks 17 consecutive days of outflows, bringing the five-week total to $6.4 billion, according to CoinShares.

🔹 Bitcoin (BTC) ETPs led the sell-off, seeing $5.4 billion in outflows over five weeks, shrinking YTD inflows to just $612 million.

🔹 Ethereum (ETH) & Solana (SOL) ETPs weren’t spared, with $175M and $2.2M in outflows, respectively.

🔹 XRP ETPs defied the trend, attracting $1.8M in inflows amid broader selling pressure.

📉 Major Players Affected:

21Shares saw the highest outflows among European issuers ($534M).
U.S. markets led outflows with $1.2B exiting last week.
BlackRock, the largest crypto ETP issuer, lost $401M in outflows.
Binance’s AUM nearly wiped out due to a seed investor exit, leaving just $15M.
ProShares remains the only major issuer with inflows this month ($2M MTD).

Despite the turbulence, YTD inflows remain positive at $912M, suggesting investor interest hasn’t completely faded. The question now—is this a temporary setback or a broader shift in sentiment?

What’s your take on the current market dynamics? Are we seeing a correction before the next leg up, or is risk appetite fading for good?

#crypto #ETPs s #bitcoin oin #Ethereum #CryptoMarket

Elon criticizes Apple's decision to integrate OpenAI’s ChatGPT into Siri, citing privacy concerns and threatening to ban Apple devices. Apple defends its AI integration, emphasizing privacy measures.

#ElonMusk #Apple's #TheAfricanCrypto

Bitcoin ETFs experienced a remarkable surge, acquiring nearly two months' worth of Bitcoin mining supply in the first week of June.

Sam Trabucco supports Ryan Salame during his sentencing after FTX's collapse. Why did he stay silent until now? What does this mean for Sam Bankman-Fried's circle?

Sam Trabucco, a prominent figure in Sam Bankman-Fried’s inner circle, has reappeared publicly following the collapse of FTX in late 2022. He has come forward to support his former colleague, Ryan Salame, as Salame faces sentencing.

Trabucco wrote in a letter of endorsement, “I will be missing the funniest, most passionate, most supportive friend I’ve ever had.” This letter, included in recent court filings, represents Trabucco’s first public statement since FTX declared bankruptcy in November 2022.

Read more on this at www.theafricancrypto.com

Uniswap recently announced that candlestick charts are now available on their platform, enhancing users’ ability to make informed financial decisions. This new feature visually represents an asset’s trading activity, aiding investors in analyzing price movements and market sentiment.

The announcement of candlestick charts on Uniswap was made via a post on the official Uniswap Labs X page and has generated excitement and interest within the cryptocurrency community.

Binance conducts periodic reviews of all listed spot trading pairs, and may delist selected spot trading pairs due to multiple factors, such as poor liquidity and trading volume.

Based on our most recent reviews, Binance will remove and cease trading on the following spot trading pairs:
At 2024-03-29 03:00 (UTC): GNS/BTC, XVG/TUSD

Bitcoin Nears Pre-Halving Danger Zone as Analysts Predict Price Volatility

Bitcoin, the world’s leading cryptocurrency, is approaching what analysts term the “Danger Zone” as it gears up for its upcoming halving event. Analysts suggest that Bitcoin’s price could face a downturn in the weeks leading up to the halving, based on historical trends.

Crypto analyst Rekt Capital shared an analysis indicating that BTC typically undergoes price retracements within 14 to 28 days before its halving events. This trend was evident in both the 2016 and 2020 halvings, with price drops of 40% and 20% respectively during these periods.

In January, Rekt Capital made a prediction about Bitcoin’s behavior before its upcoming halving event. They anticipated a surge in value, which they termed a “pre-halving rally,” roughly two months before the halving.This would entail a slight drop, known as a “pre-halving retrace,” occurring about one to three weeks before the halving itself.

Their prediction proved accurate when Bitcoin indeed started to climb in mid-February. Then, in March, it surprised many analysts by surpassing its previous record high from the last cycle, reaching $68,990. This was the first time Bitcoin had achieved such a feat before a halving event.

Looking ahead, the next halving is expected to take place in approximately 33 days, on April 20, as reported by CoinMarketCap. However, Bitcoin’s price has already experienced a decline of 8.5% from its peak of $73,835 on March 14, now standing at $67,537.

Leaders of Crypto.com and Binance are optimistic about Bitcoin’s future. Richard Teng, the CEO of Binance, shared his belief at an event in Bangkok on March 17 that Bitcoin’s value will keep soaring, possibly exceeding $80,000 by year-end. 

He emphasized that Bitcoin’s journey is just beginning, highlighting significant investments by institutional players in cryptocurrency, particularly through new US exchange-traded funds (ETFs) managing a hefty $57 billion, according to Dune Analytics data.

Strategies for Maximizing Bitcoin Halving Opportunities

The upcoming Bitcoin halving, slated for April 2024, coinciding with the creation of the 740,000th block, will mark a significant milestone. The block reward will be halved from 6.25 bitcoins to 3.125 during this event.

1. Understanding Market Dynamics: Bitcoin typically experiences significant price fluctuations before and after a halving event. While this can be volatile, conducting technical analysis can aid in making informed investment decisions.

2. Timing the Market: One approach is to "buy the rumor, sell the news." This means following market sentiment and making moves based on trading signals. However, timing the market perfectly can be challenging.

3. Short-term and Long-term Planning: Determine your risk tolerance and investment goals. Short-term traders aim for quick gains through technical analysis and trend identification. Long-term investors, also known as "hodlers," focus on holding Bitcoin over time, often through strategies like dollar-cost averaging (DCA).

4. Dollar-Cost Averaging (DCA): With DCA, investors regularly invest fixed amounts regardless of Bitcoin's price. This strategy helps reduce the impact of market volatility and can be effective during halving events.

5. Diversification: Don't put all your eggs in one basket. Diversifying your portfolio across different assets can mitigate risk. Even if Bitcoin is your primary investment, consider other cryptocurrencies or traditional assets.

6. Bitcoin Derivatives Trading: Derivatives, like options and futures, allow traders to speculate on Bitcoin's future price movements during halving events.

Options: Traders can buy call options if they expect Bitcoin's price to increase post-halving or put options if they anticipate a decline.

Futures: These contracts enable traders to buy or sell Bitcoin at a predetermined price on a specified date, providing opportunities to hedge against price fluctuations.

Bitcoin's $57,000 Rally

Bitcoin's price surged beyond $57,000, marking its highest level since December 2021. The rally was fueled by MicroStrategy's substantial purchase of 3,000 bitcoins for $155 million, emphasizing its significant role as a major bitcoin holder. This uptick in Bitcoin's value had a ripple effect across the broader crypto market, positively impacting Ethereum and related equities such as MicroStrategy and Coinbase.

Tuesday was no ordinary day; it witnessed Bitcoin not just running but sprinting past the $57,000 milestone, reaching a two-year high that grabbed the attention of crypto enthusiasts and skeptics alike. This unexpected rally has injected newfound optimism into the crypto market, dispelling bearish sentiments.

Breaking through what seemed like a glass ceiling, Bitcoin peaked at an impressive $57,445.14, likely influenced by MicroStrategy's substantial investment. The company invested $155 million in Bitcoin, acquiring approximately 3,000 tokens and increasing their holdings to over $10.5 billion.

The entire crypto market is riding on Bitcoin's success. Ethereum experienced a surge, reaching highs unseen in months, while U.S. crypto-related stocks, including MicroStrategy and Coinbase, exhibited significant gains.

Amidst the weakening U.S. dollar, Bitcoin showcased resilience, contrary to traditional trends. The anticipation surrounding the upcoming Bitcoin halving event adds to the positive sentiment. Spot Bitcoin ETFs witnessed $3.3 billion in trades yesterday.

However, it's essential to temper excitement. While the rally is noteworthy, the crypto market is known for its unpredictability. A minor correction may be imminent, a gentle reminder that what goes up must come down, if only briefly. Nevertheless, the overall outlook remains bullish, with Bitcoin displaying no indications of slowing down. Brace yourselves for a wild ride; if this rally is any indication, it's poised to become a historic moment.

400 Million Dogecoin Vanish Suddenly

The digital currency world is buzzing with the recent revelation of a staggering 400 million DOGE tokens zipped between secret wallets, shaking up the market! But hold onto your seats because there's more!

Upon further investigation into on-chain explorer data, an even more massive transfer has emerged, clocking in at a whopping 512.68 million tokens, worth about $43.39 million. 🤯💰

This development underscores the dynamic nature of cryptocurrency and its impact on the global financial landscape. As we witness these significant movements, it's crucial to stay informed and adapt to the ever-evolving trends in the digital asset space. Stay tuned for more updates as the crypto saga unfolds!

Bitcoin Skyrockets to New Heights, Breaking Past $50,000 Mark

Bitcoin has surged to a new yearly high in a stunning turn of events breaking past the $50,000 mark. BTC has instilling a wave of optimism throughout the cryptocurrency market. As of the latest update, Bitcoin is trading at an impressive $50,216, marking a significant milestone in its tumultuous journey.

Investors and enthusiasts alike are buzzing with excitement as BTC continues its upward trajectory, defying skeptics and naysayers who had predicted its demise. The cryptocurrency’s resilience and enduring appeal have once again been reaffirmed. Drawing attention from both seasoned traders and newcomers seeking to capitalize on its potential.

Get AI Resume Builder for only $30

In today's fiercely competitive job market, having a standout résumé is more crucial than ever. It's the golden ticket to securing your ideal job or climbing the career ladder. But crafting that perfect résumé? It often feels like a daunting task that eats up time and tests your patience. That's where the AI Résumé Builder comes into play, transforming the job application process.

Now, for a remarkably affordable one-time fee of just $29.97—significantly reduced from its usual price of $468—you can get a lifetime subscription to the AI Résumé Builder. This special deal is available until 11:59 p.m. PT on February 4th, making it the perfect time to invest in your career's future.

Thanks to its sophisticated AI technology, the AI Résumé Builder simplifies the résumé crafting process, ensuring your application is not only top-notch but also compatible with Applicant Tracking Systems (ATS). This means you can create a professional and appealing résumé quicker and more efficiently, giving you an edge in the job market.

Exclusive Binance Airdrop: Claim Your Share of $100,000 in WOO Tokens!

Binancians, prepare for an exciting opportunity as Binance hosts an exclusive airdrop, offering members the chance to claim their share of $100,000 in WOO tokens. It's time to dust off those Binance Web3 Wallets and prepare for thrilling missions.

🚀 How to Participate:

To secure a portion of the WOO token giveaway, participants should follow these steps:

1. Click 'Join Now':

   - Head over to the activity page and click 'Join Now' to initiate their participation in this exciting event.

2. Complete Missions:

   - During the Activity Period, they should use their Binance Web3 Wallet to complete the following missions. Completing each mission will earn them a share of $20,000 in WOO tokens.

3. Cross-chain Swap on Arbitrum:

   - They should execute a cross-chain swap from any token to 100 WOO on Arbitrum via WOOFi.

4. Stake 100 or More WOO on Arbitrum:

   - Stake 100 or more WOO tokens on Arbitrum through WOOFi to secure another portion of the reward.

5. Deposit 0.01 ETH into WOOFi’s Vault on Arbitrum:

   - Deposit at least 0.01 ETH into WOOFi's vault on the Arbitrum network to increase their WOO tokens' share further.

6. Deposit 25 USDC onto WOOFi Pro via Arbitrum:

   - Deposit a minimum of 25 USDC onto WOOFi Pro using the Arbitrum network.

7. Trade $250 or More Volume on WOOFi Pro:

   - Engage in trading activities on WOOFi Pro with a total volume of $250 or more.

📅 Activity Period:

This exciting opportunity runs to February 5, 2024, at 23:59 (UTC). Participants should mark their calendars and take full advantage of this limited-time offer.

Binancians are urged to take advantage of their share of the $100,000 in WOO tokens. Joining the exclusive Binance airdrop today and completing the missions using their Binance Web3 Wallet is crucial to securing their portion of the prize. With various missions, there's something for every Binancian to enjoy.

It's time to dive in and claim a share of the exciting WOO token giveaway!

Bitcoin Whales Reap $3 Billion Amidst FUD and
Market Volatility

Bitcoin whales, the heavyweights of the crypto world, have been making waves. The Whales have accumulated a staggering $3 billion worth of Bitcoin in January. In a tumultuous period marked by Fear, Uncertainty, and Doubt (FUD), they have emerged as formidable players. They are navigating the storm with finesse.

Data from on-chain analytics firm IntoTheBlock reveals a notable accumulation trend among Bitcoin whales. Wallets holding over 1,000 BTC have grown by approximately 76,000 BTC, now collectively housing about 7.8 million BTC. This accumulation comes after the introduction of spot exchange-traded funds (ETFs). In the United States, propelling BTC prices to heights exceeding $48,900.

Read full article by theafricancrypto.com

https://theafricancrypto.com/bitcoin-whales-3-billion-accumulation-gbtc-outflows/