BlackRock Renews ETF Prospectus
BlackRock renewed its ETF prospectus and added Citadel, Goldman Sachs, UBS and Citi, which are considered giant companies in the financial sector, as participants. It can be considered important for companies of this size on a global scale to be involved in the spot Bitcoin ETF process. Additionally, adding these companies as participants will also increase the liquidity in the IBIT fund.
Spot Bitcoin ETF Application from Australian Asset Manager
Australian asset manager Monochrome has stated that it wants to launch spot Bitcoin ETFs by July 2024 to list on Cboe Australia. If this application is approved, Monochrome Bitcoin ETF will be Australia’s first Bitcoin fund to invest directly in Bitcoin. Cboe Australia does not have an investment product directly sensitive to Bitcoin, although there are two ETPs sensitive to crypto investment assets.
Ripple CEO Expects Total Market Cap to Double
Ripple CEO Brad Garlinghouse said the value of the entire cryptocurrency market will likely double by the end of 2024, according to a report published on CNBC on Sunday. At the time of this news, the total market value was 2.59 trillion dollars, and according to Garlinghouse, it is expected to reach 5 trillion. Garlinghouse attributed this prediction to spot Bitcoin ETFs and the upcoming halving event and emphasized that he was ‘very optimistic’ for cryptos.
Grayscale Removes Cardano and Cosmos from Multi-Asset Funds
Crypto asset management firm Grayscale announced that it has removed Cardano and Cosmos from its multi-asset funds. According to the statement, the company removed Cardano from the Grayscale Digital Large Cap (GDLC) fund and Cosmos from the Grayscale Smart Contract Ex-Ethereum (GSCPxe) fund. With this change, the weight of Bitcoin in the GDLC fund rose above 70%. In another fund, the GSCPxE fund, Solana’s weight reached 58.4%.
dYdX Community Decided to Stake Worth $60 Million
The community of decentralized derivatives exchange dYdX has decided to stake 20 million dYdX Chain tokens, worth approximately $60 million at current prices, with Cosmos staking provider Stride, in order to increase the economic security of the network and promote staking diversity among the community. The staked tokens will earn USDC rewards, which will automatically be converted into more dYdX tokens, creating a wheel effect for those who stake.
Cardano’s Charles Hoskinson Points Out Two Major Upgrades
Cardano co-founder Charles Hoskinson announced plans for two major upgrades to the Cardano network, at least one of which is due this year, following criticism of ADA and the ecosystem. Hoskinson attributed this optimism to the Chang hard fork, which is considered one of the largest hard forks of the network since the Vasil upgrade in 2022 and is planned for the second quarter of this year.
South Korean Opposition Party Promises Access to Spot Bitcoin ETFs for Votes
South Korea’s major political parties are promising crypto-related incentives to ensure support from voters ahead of the country’s upcoming parliamentary elections. According to an April 5 report from Bloomberg, the opposition Democratic Party has vowed to lift restrictions on domestic and international ETFs that directly hold cryptocurrencies, including spot Bitcoin ETFs based in the United States. “We will allow ETFs, whether domestic or international,” the Democratic Party’s Hwanseok Choi told Bloomberg, referring to the group’s manifesto. said.
Strong Performance in the First Quarter from Crypto Hedge Fund Pantera Capital
The Liquid Token fund of crypto hedge fund Pantera Capital, which has over $5 billion in assets under management, gained 66% in value in the first quarter of 2024. According to the report published by Bloomberg, Pantera Capital’s $300 million crypto fund showed a strong performance in the first quarter of 2024, with the rise of other crypto assets, especially Solana. The reason behind this success of Pantera Capital’s Liquid Token fund is thought to be reducing BTC and ETH risk and turning to altcoins with smaller market value.
Genesis Completes Sale of GBTC Shares and Purchases Bitcoin
According to court information on Friday, bankrupt crypto lender Genesis completed the sale of GBTC shares and used the proceeds to buy 32,041 Bitcoins. According to the court filing, the sale of GBTC shares was completed on April 2.
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BITCOIN (BTC)
As of the morning hours, BTC is priced at $69,584 with a 0.32% gain in value. When we examine the four-hour chart, we see that the $ 70,000 level is important as a resistance zone. If we see a breakout movement above this region, first the $70,700 level and then the $71,300 level may be tested. In case of a withdrawal, the $69,000 level can be followed as support in the short term.
ETHEREUM (ETH)
ETH is priced at $3430 with a 0.68% loss of value as of the morning hours. When we examine the hourly chart, we see that there is an upward reaction movement from the support zone of $ 3410. If this movement continues, the $ 3460 level can be followed as resistance. If the resistance zone is broken, the $ 3500 level can be tested. In case of withdrawals, a downward break of the $3410 level, which is the support zone, and the $3380 level can be followed as support.
RIPPLE (XRP)
As of the morning hours, XRP is priced at $0.5918 with a 0.44% loss in value. When we examine the four-hour chart, we see that the $0.60 area is an important resistance zone. If this area breaks upwards, the $0.61 level can be tested. In case of withdrawals, the $ 0.5850 region can be followed as support.
AVALANCHE (AVAX)
AVAX is priced at $49.22 with a 0.24% loss in value as of the morning hours. When we examine the four-hour chart, we see that the $49.50 level is an important resistance level. If this zone is crossed, the $50 level can be followed. In case of withdrawals, the $48 level can be followed as a support zone.
SOLANA (SOL)
SOL is priced at $176.7 with a 1.58% depreciation as of the morning hours. When we examined the four-hour chart, we saw that the $ 168 support zone was tested last Friday and there was a movement up to the $ 180 level with the reaction movement from this zone. With the price movement over the weekend, the $180 level, which we followed as a resistance zone, could not be passed and a slight retreat occurred. If this retreat continues, the $170 level can be followed as support. In upward movements, the $185 level can be tested by ensuring persistence above the $180 level.
CHAINLINK (LINK)
As of the morning hours, LINK is priced at $17,654 with a 1.45% loss in value. When we examine the hourly chart, we see that there is a price movement within the ascending channel movement. LINK, which is currently traded at the bottom of the channel, may first test the channel mid-band level of 17,800 and then the $18 region if it receives an upward reaction from this region. In case of a withdrawal, the $17 level can be followed as support with a downward break of the channel movement.
PNG
As of the morning hours, PNG is priced at $0.5182 with a 10.04% gain in value. When we examine the four-hour chart, we see that the $0.55 level is being tested with the upward break of the $0.49 – $0.50 level, which we follow as the resistance zone. In case of a withdrawal, the previous $0.50 region can be followed as support. In upward movements, the $0.58 region can be tested with a break of the $0.55 level.
NEAR
NEAR is priced at $7,100 with a 2.67% gain in value as of the morning hours. When we examine the hourly chart, we see that the descending channel movement has been broken upward. If this move continues, the $7.20 level could be tested. In case of a withdrawal, the $7 level can be followed as support.
