Fidelity

Fidelity Digital Assets ‘Signals’ Report Revises Bitcoin Outlook to ‘Neutral’

April 23, 2024 Bitcoin.com

Bitcoin

The latest quarterly report from Fidelity Digital Assets (FDA) Research reveals key insights into the bitcoin and ethereum markets as of Q1 2024. With a detailed analysis of market conditions and future outlooks, FDA’s research report provides several predictions for short and long-term trends. Fidelity Digital Assets Spotlights Bitcoin and Ethereum Market Shifts in New […]

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Pantera Capital to raise $1 billion for new crypto fund

Bitcoin ‘no longer cheap’ — Fidelity revises medium-term outlook for BTC

April 23, 2024 Coin Telegraph

Bitcoin

Fidelity Digital Assets maintained its positive short-term outlook for Bitcoin following the first quarter but revised its medium-term outlook based on several metrics.

Fidelity Digital Assets has revised its medium-term outlook for Bitcoin (BTC) from “positive” to “neutral” following the first quarter, citing several metrics that suggest Bitcoin is no longer considered “cheap” amid a potential build up of sell pressure. 

In its latest Signals report released on April 22, Fidelity Digital Assets cited the Bitcoin Yardstick, or Hashrate Yardstick, which works in the same way as the Price-to-earnings ratio is used in stocks, except in this case, it is used to determine if Bitcoin is undervalued. 

Fidelity noted that the Yardstick remained between a negative one and zero deviations from the mean of 51% in the first quarter, meaning there were “zero days on Q1 where Bitcoin was considered 'cheap.'”

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Pantera Capital to raise $1 billion for new crypto fund

Spot Bitcoin ETFs Secured Inflows on Friday While GBTC Struggles to Hold 300,000 BTC

April 23, 2024 Bitcoin.com

Bitcoin (BTC)

Following a sequence of five days of net outflows, U.S. spot bitcoin exchange-traded funds (ETFs) experienced modest inflows on Friday, capturing nearly 900 bitcoins from the market, totaling $59.7 million. Concurrently, Grayscale’s Bitcoin Trust (GBTC) teeters on the brink of falling below the 300,000 mark, as it recorded a holding of 304,970.43 bitcoins as of […]

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Pantera Capital to raise $1 billion for new crypto fund

Spot Bitcoin ETFs Record 5 Consecutive Day of Outflows; Analyst Declares Cool-Off ‘Totally Normal’

April 19, 2024 Bitcoin.com

Bitcoin (BTC)

U.S. spot bitcoin exchange-traded funds (ETFs) have seen outflows for the fifth consecutive day since April 12, with a reduction totaling $4.3 million during Wednesday’s trading sessions. ETF Analyst’s Perspective: Recent Bitcoin ETF Outflows Within Expected Norms The newly launched spot bitcoin ETFs have been active on the stock market for 99 days, having commenced […]

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Pantera Capital to raise $1 billion for new crypto fund

Blackrock Closes in on Grayscale in the Battle for the ‘World’s Largest’ Bitcoin ETF

April 17, 2024 Bitcoin.com

Bitcoin (BTC)

U.S. spot bitcoin exchange-traded funds (ETFs) experienced three consecutive days of net outflows, with a loss of $58 million on Tuesday. Leading the outflow for the day was Grayscale’s GBTC. After Another Day of Outflow, IBIT Nears GBTC as Potential Leader in Spot Bitcoin ETF Market Grayscale’s GBTC continued to report reductions in its bitcoin […]

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Pantera Capital to raise $1 billion for new crypto fund

Monday’s Market Action Sees $36.7 Million Outflow From US Spot Bitcoin ETFs

April 16, 2024 Bitcoin.com

Bitcoin (BTC)

On Monday, U.S. spot bitcoin exchange-traded funds (ETFs) experienced another round of outflows, shedding $36.7 million since the outflows on Friday. Additionally, after the close of Monday’s market, Grayscale’s Bitcoin Trust (GBTC) offloaded 2,524.1 bitcoins valued at $159.25 million. Blackrock’s IBIT and Fidelity’s FBTC Lead in Bitcoin Accumulation as GBTC Sells Off Since the trading […]

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Pantera Capital to raise $1 billion for new crypto fund

US Spot Bitcoin ETFs See $55.1M Outflow; GBTC Divests 2,048 BTC Amid Market Volatility

April 14, 2024 Bitcoin.com

Bitcoin (BTC)

Data shows that U.S. spot bitcoin exchange-traded funds (ETFs) experienced negative outflows on Friday, totaling $55.1 million, with Grayscale’s Bitcoin Trust (GBTC) seeing another notable decrease. Metrics from Thursday reveal GBTC held 316,193.43 bitcoins, but after a decline of 2,048.23 bitcoins, the fund’s holdings reduced to 314,145.2 bitcoins. Blackrock and Fidelity Absorb Bitcoin Despite GBTC’s […]

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Pantera Capital to raise $1 billion for new crypto fund

Fidelity’s FBTC Gains Ground, Absorbing Over 1,000 BTC Amid Wednesday’s $123M Inflow

April 11, 2024 Bitcoin.com

Bitcoin (BTC)

U.S. spot bitcoin exchange-traded funds (ETFs) garnered $123.7 million in positive inflows during Wednesday’s trading. Grayscale’s Bitcoin Trust (GBTC) experienced a decline in its bitcoin holdings, decreasing from 318,451.70 to 316,193.43 bitcoins. ETF Analyst Notes Historical Inflow Streak in 2 Bitcoin ETFs, Eyeing Record On Wednesday, U.S. spot bitcoin ETFs reversed a two-day trend of […]

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Pantera Capital to raise $1 billion for new crypto fund

US Spot Bitcoin ETFs Record $19.4 Million in Outflows, GBTC Holdings Decline

April 10, 2024 Bitcoin.com

Bitcoin (BTC)

U.S. spot bitcoin exchange-traded funds (ETFs) experienced another round of net withdrawals, documenting a $19.4 million decrease. The holdings of GBTC diminished from 322,697.17 bitcoins to 318,451.70. U.S. Spot Bitcoin ETF Landscape: Outflows Continue to Persist On April 8, 2024, the U.S. spot bitcoin ETFs saw a substantial $223.8 million in outflows, and on April […]

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Pantera Capital to raise $1 billion for new crypto fund

GBTC Drops Nearly 3,000 BTC in a Day as Blackrock, Fidelity Command Record Inflow Streaks

April 9, 2024 Bitcoin.com

Bitcoin (BTC)

Recent market data highlights that spot bitcoin exchange-traded funds (ETFs) in the United States experienced a net outflow of $223.8 million on April 8, while Grayscale’s Bitcoin Trust (GBTC) saw a substantial outflow of $303 million. GBTC Continues to Face Steep Outflows As of yesterday, GBTC possessed 325,686.78 BTC, but as per Grayscale’s website, this […]

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Pantera Capital to raise $1 billion for new crypto fund