Is this the end of the bull run ?

These factors contribute to the current surge in the crypto market, indicating a strong investor interest and potential for further expansion.

Money Talks & Joe G
May 03, 2024 • Estimated Reading Time: 5 minutes

What we will talk about today...

ALL BITCOIN ETFS ARE DROPPING THEIR HOLDINGS

WHY IS THE CRYPTO MARKET UP TODAY?

BLACKROCK’s $47M BET ON TOKENIZATION

Holdings Decrease: Major Bitcoin ETFs, including those by BlackRock, Fidelity, and Grayscale, have cut their Bitcoin holdings by 8,107 BTC, worth about $478 million.
Market Shift: The sell-off aligns with Bitcoin’s fall below $60,000, prompting investor caution due to increased market volatility.
Current Trading: Bitcoin is trading just over $59,375, after finding support near $52,107, indicating a possible new low.
Recovery Hopes: To regain trust, Bitcoin must stay above $52,107 and break past the $61,018 resistance.
Looking Ahead: Bitcoin’s future hinges on its stability and ability to surpass key resistance levels, with $50,000 as a potential support if it fails.

Investors and market watchers remain vigilant, tracking Bitcoin’s performance and ETF trends to understand the market’s direction.

Fed’s Softer Approach: The Federal Reserve’s less hawkish outlook post-FOMC meeting is boosting confidence, with a rate cut expected in November.
U.S. 1 and US10Y versus TOTAL crypto market capitalization daily performance chart.
PayPal’s Crypto Move: PayPal’s partnership with MoonPay introduces over 110 cryptocurrencies to its users, enhancing crypto market credibility.
TOTAL market capitalization four-hour performance chart.
Bitcoin’s Post-Halving Effect: Following Bitcoin’s halving, the market is showing typical growth patterns, with new spot Bitcoin ETFs in the U.S. and Hong Kong adding to the positive momentum.
Price performance of top crypto assets in the last 24 hours.
Technical Indicators: Bullish signals are evident, with the market cap bouncing off a key trendline, suggesting a continuation of the upward trend.
TOTAL crypto market capitalization daily performance chart.

These factors contribute to the current surge in the crypto market, indicating a strong investor interest and potential for further expansion.

₿itcoin reached $59,179. +1.40%

♢Ethereum reached $2,971. +0.23%

Investment in Innovation: Blackrock leads a $47 million investment in Securitize, showcasing its belief in tokenization’s future in finance.
Broad Support: The funding round includes major financial and crypto firms, highlighting widespread interest in tokenization.
Securitize’s Growth: The investment will help Securitize expand its blockchain-based asset digitization services.
Strategic Direction: Blackrock’s Joseph Chalom joins Securitize’s board, indicating a strategic focus on digital assets.
BUIDL Fund Access: Securitize grants access to Blackrock’s BUIDL fund, merging traditional and digital finance.

Blackrock’s move into tokenization with Securitize represents a significant step towards integrating blockchain in capital markets.

CAN YOU PREDICT THE PRICE?

HOW DID WE DO? 🤷

Stay tuned for more twists and turns in the crypto world & Happy Investing🚀💎