May 19, 2024

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The price of Bitcoin (BTC) has risen as the halving approaches

The price of Bitcoin (BTC) has risen as the halving approaches

Bitcoin has recovered a bit as it were Half The event is approaching, adding 5% over 24 hours. Ether also rose 4% to $3,000. According to Laurent Kisses, exchange-traded cryptocurrency specialist at CEC Capital, Bitcoin will continue to rise in US markets and then adjust and return to previous levels. Bitcoin hit a weekly low of $58,800 this week and is currently approaching the $65,000 level. Half is expected to happen Late Friday or Early Saturday UTC. This event, which takes place every four years, slows the growth rate in the supply of Bitcoin by 50%. Altcoins were also up, with Dojoyfat (WIF) jumping 18%, ENA from Ethena Labs up 16%, and SEI from Sei Networks up 14%.

US based Bitcoin spot (btc) Exchange Traded Funds (ETFs) registered Total outflows reached $4.3 million on Thursday, extending a four-day series of withdrawals ahead of the expected halving of the mining reward.. Since April 12, ETFs have seen a cumulative net outflow of more than $319 million, with Grayscale's GBTC accounting for a significant share of withdrawals, interim data published by Farside Investors showed. On Thursday, GBTC lost $90 million in outflows, which were partially offset by inflows into FBTC from Fidelity and IBIT from BlackRock. The Grayscale ETF has seen outflows since day one for several reasons, including the fund's relatively expensive fees. So, while outflows from GBTC may not be a cause for concern, recent slow flows into other ETFs may be.

Cryptocurrency exchange Kraken is acquisition TradeStation Crypto, the digital asset-focused division of online brokerage TradeStation, intends to expand its regulatory licenses in the US. “We can confirm that Kraken has recently purchased TradeStation’s cryptocurrency business,” a Kraken spokesperson said via email. “This deal is part of our efforts to accelerate our presence in the US and will open up further growth and new product opportunities for Kraken in the US.” The company declined to disclose the amount paid. The acquisition has not been previously disclosed publicly. Florida-based TradeStation Crypto has taken over money transmitters and other types of regulatory bodies Licenses in most US states Over the past few years.

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