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Cathie Wood’s Ark Invest Buys Over 32K Reddit (RDDT) Shares, Sells ARKA

Cathie Wood's Ark Invest has acquired over 32,000 Reddit (RDDT) shares and sold 50 ARKA ETFs, reflecting a strategic shift in its portfolio.

• Main Points:

  • Strategic Shift: Purchased 32,677 Reddit shares, and sold 50 ARKA ETFs.

  • Diverse Investments: Bought shares in biotech, IT, and aerospace companies.

  • Market Impact: Reddit's price dip may have influenced the purchase.

  • ARKA Performance: ETF shows positive momentum despite sales.

• Detailed Insights:

  • Reddit Focus: Major buy of Reddit shares amid its price decline to $54.50.

  • Broad Portfolio: Acquisitions include:

    • 173,927 Intellia Therapeutics shares.

    • 83,537 10x Genomics shares.

    • 103,952 Pagerduty shares.

    • 65,163 Rocket Lab USA shares.

    • 43,110 Adaptive Biotechnologies shares.

    • 11,228 Markforged Holding shares.

  • Sales Activity: Sold 50 ARKA ETFs and significant Zoom shares.

  • Market Sentiment: Optimism for Reddit’s future; ARKA ETF gains momentum.

Related: Edward Snowden's Iconic Bitcoin Remark as Berkshire Hathaway Falls 99.97%

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Bitcoin ETFs Drive BTC Surge as Price Passes $71K

Bitcoin hits two-week highs at $71K as fresh interest in Bitcoin ETFs fuels institutional inflows.

• Main Points:

  • BTC Price Surge: Bitcoin reaches $71,286 on June 5.

  • ETF Influence: U.S. spot Bitcoin ETFs see a $900 million inflow.

  • Global Trends: Thailand and Australia approve new Bitcoin ETFs.

  • Market Analysis: Resistance is seen at $73,800, key support at $69,000.

• Detailed Insights:

  • BTC Price Reaction:

    Bitcoin (BTC) traded at two-week highs of $71,286 on June 5, driven by fresh institutional interest in Bitcoin ETFs. Data from Cointelegraph Markets Pro and TradingView showed BTC maintaining gains during the Asia session, with Wall Street opening now in focus.

  • ETF Inflows:

    Trader Skew linked the price action to nearly $900 million in net inflows to U.S. spot Bitcoin ETFs on June 4. Skew highlighted consistent buying on Coinbase as a sign of ETF-related activity. Binance’s role in reinforcing the uptrend was also noted.

  • Market Resistance:

    Material Indicators pointed out significant resistance between the current spot price and the all-time high of $73,800. Liquidity is being placed above $69,000 to support the price, with resistance stacked above $71,500 and dense around $72,000.

  • Global ETF Approvals:

    QCP Capital noted broader bullish momentum for Bitcoin due to institutional investments globally. BlackRock’s BTC spot ETF reached $20 billion quickly, while Thailand and Australia launched new BTC spot ETFs. QCP expects further boosts from U.S. unemployment data.

Related: Musk vs. Nakamoto

3 Bitcoin Mining Pools Wield 69% of Total Hashrate, Discovering 301 Blocks in 72 Hours

In 72 hours, three Bitcoin mining pools discovered 69% of 436 blocks mined. Foundry USA and Antpool dominate with 55.5% of the hash rate.

• Main Points:

  • Major Players: Foundry USA and Antpool control 55.5% of Bitcoin’s computational power.

  • Block Discovery: 301 of 436 blocks were found by Foundry USA, Antpool, and Viabtc.

• Detailed Insights:

  • Foundry USA: 28.9% of hash rate, 168.05 EH/s, 124 blocks.

  • Antpool: 27.1% of hash rate, 159.92 EH/s, 118 blocks.

  • Viabtc: 13.3% of hash rate, 79.96 EH/s, 59 blocks.

Related: Bitcoin Sees Best May Since 2019 Despite 3% Price Dip

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This article is not financial advice. Market conditions can change rapidly, and past performance does not guarantee future results