April's VC investments in crypto startups totaled $935 million, with a focus on blockchain infrastructure and DeFi sectors.
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Markets
Price analysis 5/3: BTC, ETH, BNB, SOL, XRP, DOGE, TON, ADA, AVAX, SHIB
Altcoins showed impressive double-digit gains after Bitcoin bulls successfully pulled BTC price back above the $61,000 level.
Bitcoin (BTC) bulls are trying to stage a comeback by pushing the price above the psychologically crucial level of $60,000. Veteran trader Peter Brandt said in a X post that if Bitcoin holds the most recent lows and moves higher, it will be considered a “very common bull market continuation chart construction.”
Analysts are bullish on the long-term prospects of Bitcoin but do not expect the uptrend to start in a hurry. Bitfinex Alpha market report said that Bitcoin could stay range-bound for one to two months “with swings of $10,000 on either side.”
Traders are likely to keep a close watch on the spot Bitcoin exchange-traded funds. According to Farside Investors data, the Bitcoin ETFs witnessed outflows of $563 million on May 1. The sentiment is likely to pick up after the Bitcoin ETFs witness net inflows for a few successive days. Former BitMEX CEO Arthur Hayes believes the sell-off has ended, and the crypto markets may head higher.
Bitcoin enters ‘a new era’ as whales scoop up over 47K BTC during price pullback
Bitcoin whales have added over $2.9 billion worth of BTC, which helped it recover above the $60,000 mark, but can Bitcoin price close the week above $60,000?
Following the post-halving price dip, Bitcoin whales have started accumulating Bitcoin (BTC) once again. Can whales push Bitcoin’s weekly close above $60,000?
Bitcoin whales, which are large wallets holding at least 100 BTC, have accumulated over 47,000 BTC worth over $2.9 billion at current prices, noted Ki Young Ju, the founder and CEO of CryptoQuant, in a May 3 X post:
The chart excludes wallets related to centralized exchanges (CEXs) and mining firms. While the metric includes spot Bitcoin exchange-traded funds (ETFs), they are not the reason behind the uptick, according to CryptoQuant’s founder:
Bitcoin bottom in, now headed for a ‘slow grind higher’ — Arthur Hayes
This week’s 12% Bitcoin retreat was a “well-needed market cleansing,” said the former BitMEX boss.
Former BitMEX CEO Arthur Hayes believes Bitcoin has hit a local bottom and will slowly grind back up over the next few months.
In a blog post on May 3, Hayes commented on the recent market slump, claiming that “The price action played out as I expected.”
Bitcoin (BTC) hit a local low of around $58,600 earlier this week but will rally to above $60,000 and then remain rangebound between $60,000 and $70,000 until August, he said.
Dogs and cats coins lead gains in today’s market rebound
Bitcoin's slight recovery leads to a surge in altcoins like TRB and KMNO, with notable gains in meme coins POPCAT and OMNOM.
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Coinbase reports $1.64 billion in revenue on Q1
Coinbase Q1 earnings reveal a revenue of $1.64 billion, surpassing expectations with a significant increase in consumer transaction revenue.
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‘Mr. 100’ buys the Bitcoin dip for the first time since halving — Is the BTC bottom in?
Mr. 100, an entity previously identified as Upbit, has bought over $147 million worth of Bitcoin for the first time since the halving, suggesting an end to the current retracement.
The Bitcoin whale entity nicknamed “Mr. 100” has bought the Bitcoin (BTC) dip for the first time since the Bitcoin halving. Meanwhile, multiple market analysts suggest that the local Bitcoin bottom may be in as the price bounces from $56,000-lows.
The Mr. 100 whale wallet has added 2,500 BTC worth over $147 million, around the $58,000 mark, according to a May 2 X post by HODL15Capital.
This represents the wallet’s first Bitcoin purchase since April 19, the day before the 2024 Bitcoin halving.
Price analysis 5/1: BTC, ETH, BNB, SOL, XRP, DOGE, TON, ADA, AVAX, SHIB
Bitcoin’s drop to $56,500 crushed bullish traders’ sentiment and took a heavy toll on altcoin prices but are generational buying opportunities emerging?
Bitcoin (BTC) sliced through the $60,000 support on May 1, signaling that the uptrend has weakened. While the fall has muddied the short-term picture for Bitcoin, the analysts remain bullish for the long term.
Traders latch on to every bit of negative news when the price action turns bearish. Investor sentiment received a beating on the muted response to the Hong Kong spot Bitcoin and Ether (ETH) exchange-traded funds (ETFs) that debuted on April 30. Continued outflows from the United States-based spot Bitcoin ETFs for the fifth consecutive day also did little to soothe nerves.
Every bull phase witnesses sharp corrections, which shake out the weak hands. The lower levels give an opportunity to the long-term investors to add to their portfolios. However, it is better to wait for the price to confirm a bottom before initiating large bets.
Bitcoin down 20%+ from all-time highs — Is BTC price headed to $50K?
While the current correction remains in line with historical price corrections, Bitcoin could briefly fall to the $50,000 mark after losing the average ETF inflow mark of $59,000.
Bitcoin’s price is down around 21% from its all-time high. But while this remains in line with previous bull market corrections, Bitcoin could still fall to the $50,000 mark in the near term, based on historic patterns.
Bitcoin (BTC) price fell over 12% on the weekly chart to $57,780 as of 1:10 p.m. in UTC, which is 21.6% lower thatn its all-time high of $73,750, reached on March 14, according to CoinMarketCap data.
The current correction is the deepest retrace of this cycle, according to popular Bitcoin analyst Rekt Capital, who wrote in a May 1 X post:
Bitcoin momentarily drops below $57K hours ahead of Fed interest rate decision
Bitcoin has dropped 7% to $57K and Ethereum is down 6% to $2.9K ahead of the FOMC meeting to decide on interest rates.
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