Record Outflow in Spot Bitcoin ETFs
According to data, there was a total outflow of $563.7 million from spot Bitcoin ETFs on Wednesday. Thus, the highest outflow was achieved since the first trading day. When we examined it on an ETF basis, FBTC ranked first among the outflows with 191 million dollars. GBTC ranks second with 167.3 million dollars. In addition, there was a debut on the IBIT side with $36.9 million.
Fed Leaves Interest Rate Steady
With the decision announced yesterday, the Fed kept interest rates unchanged at its sixth meeting and kept them constant at 5.50%. Powell said it will take longer than expected to be confident that inflation will return to the Fed’s 2% target. Additionally, Powell refrained from predicting how likely rate cuts are this year, stating that monetary policy is currently restrictive. He talked about the importance of following the data regarding interest rate cuts.
Collaboration Between Ripple and Hashkey DX
Ripple announced a strategic partnership with Hashkey DX, a Tokyo-based consulting firm specializing in blockchain technology. This collaboration aims to use XRP Ledger-based solutions to improve supply chain financing for Japanese businesses. Leveraging the XRP Ledger, known for its efficiency and low transaction costs, Ripple and HashKey DX plan to offer innovative solutions that will address the complexity of institutional-level financial transactions in Japan, especially supply chain finance.
Earning $4.52 Billion from Tether in the First Quarter
Despite experiencing a significant decline in market share, Tether made a profit of $4.52 billion in the first quarter. The largest share of this gain came from Bitcoin and gold investments. “The high amount of earnings reflects the financial strength and stability of the company,” Tether CEO Paolo Ardoino said. said.
MicroStrategy Launches Decentralized Identity Solution
In an influencer’s X post, MicroStrategy said that it stores users’ personal information using UTXO called Orange. This solution is designed to enable decentralized identity services for a discounted fee while minimizing block consumption. It is not yet clear when the project will start.
AAVE Labs Introduces V4 Roadmap
Aave’s in-development V4 roadmap suggests several improvements to its lending platform. These improvements include better support for the native GHO stablecoin, lower transaction fees, and automatic calculation of the protocol’s interest rates for lending. Additionally, the developers plan to automate some of the DAO management process.
Robinhood Partners with Uniswap
Eligible Robinhood users will be able to use Robinhood Connect as their Uniswap payment method. This feature is available to US customers only. A new payment system has been integrated in Uniswap, other than Coinbase Pay and Moonpay.
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BITCOIN (BTC)
BTC is priced at $57,270 with a 1.88% loss of value as of the morning hours. There was a horizontal band between $72,800 and $60,800, but a breakout occurred. The lower region of the horizontal band, $60,790, is a critical region, and if there is a close above this level, increases up to $67,000 may be seen. For now, this area is working as resistance and the pullback continues. $56,500 is currently working as support. If there is a break below this level, a decline may occur up to $52,000.
ETHEREUM (ETH)
ETH is priced at $2902 with a 2.43% loss of value as of the morning hours. After rising to $3350, a retreat was observed. The $3000 level was lost. $2865 worked as support but it does not stand very solid. If $ 2865 is lost, there may be a withdrawal up to $ 2700. If it receives support from here, it may rise up to $3000.
RIPPLE (XRP)
As of the morning hours, XRP is priced at $0.5105 with a 1.40% loss in value. There is a horizontal channel between $0.46 and $0.55. There was a wick movement to the $0.48 level, but it could not be permanent. $0.50 is a critical level, and if it closes below this level, there may be a drop to $0.48. If $0.50 works as support, areas that could be resistance include $0.55 and $0.58. We see that $0.50 is currently working successfully as support.
AVALANCHE (AVAX)
AVAX is priced at $32.44 with a 2.64% loss in value as of the morning hours. There is a horizontal line between $40 and $31. It rose to $40 and was rejected. If a breakout of $39 occurs and persistence is achieved, a rise to $45 can be seen. If the pullback continues, pullbacks up to $30 and then up to $28 may be seen. $31 is a critical zone and holds the price as support for now. If there is a loss here, a movement towards the 29 dollar level may be seen.
SOLANA (SOL)
SOL is priced at $128.93 with a 4.34% loss in value as of the morning hours. When we examine the daily chart, we see that the $ 125 area is an important support zone. Yesterday, there was an upward reaction movement from this region and there was a movement up to the $ 135 level. In upward movements, the 135 – 140 dollar region appears as resistance. If this region is crossed, the $150 level can be tested. In downward movements, the $125 region can be followed as support.
CHAINLINK (LINK)
As of the morning hours, LINK is priced at $ 13,198, with a 1.11% loss in value. When we examine the daily chart, we see that the $13 level is an important support area and there are upward reactions from this area. In case of persistence above the support zone, 13,500 and 14 dollars levels can be followed as resistance. In downward movements, the $ 12,600 level can be followed as support with a closing below the $ 13 support area.
PNG
As of the morning hours, PNG is priced at 0.37748 dollars with a 2.28% gain in value. When we examine the four-hour chart, there was a strong reaction movement from the $ 0.33 region and selling pressure was seen from the $ 0.38650 resistance area in the short term. If there is a break above this resistance area, a move towards the $0.40 and then $0.42 area may be possible. In case of withdrawals, $0.36 can be followed as support.
MKR
MKR is priced at $2690 with a 1.32% depreciation as of the morning hours. When we examine the hourly chart, we see that there is a horizontal movement between the $2585 and $2730 levels. These two levels can be followed as main support and resistance levels. If the $2730 level, which is the resistance zone in upward movements, is broken, the $2800 zone can be tested. In case of withdrawals, the $2640 region can be followed as support.
OUNCE OF GOLD
As of the morning hours, ounce gold is priced at 2315 dollars with a 0.18% loss in value. When we examine the four-hour chart, we see that there is no persistence above the $ 2400 level and at the same time, the short-term rising trend line is broken downwards. If this withdrawal movement continues, the $ 2300 level and then the $ 2280 level can be followed as support. In upward movements, the 2380 and 2400 dollar areas appear as resistance. $2300 is working as support for now. If this level is lost, there may be a decline to 2260 dollars.
OUNCE OF SILVER
As of the morning hours, silver is priced at $26.54 with a 0.37% loss in value. When we examine the four-hour chart, we see that the upward reaction from yesterday’s $ 26.25 level continues to the $ 26.80 region and there is a retreat from this region. If the downward movement continues, the $26.30 level can be followed as support. If the resistance zone of $26.80 is broken, the $27 level can be tested.
