Category: News

Gate.io Staking officially launched the BTC staking product, with a base APR of 2%. This product provides investors with a secure and stable way to grow their digital assets. By staking BTC, users can earn corresponding returns, which will be distributed in the form of GTBTC. The exchange ratio between GTBTC and BTC is 1 to 1. The amount of return is directly related to the amount of BTC staked by the user.

Web3 Wallet Tasks Help Users Enjoy Higher Returns

At the same time, Gate.io Staking has launched a special 90-day Web3 wallet incentive campaign. During the event, users who complete designated Web3 wallet tasks will receive an additional 1% reward the next day. The event runs from April 22 to July 20.

Users can click “Bonus” on the BTC staking page to view specific task information, or click the “Go to Web3 Tasks” button on the staking complete page to join the campaign and enjoy up to 3% APR easily.

Strict Project Selection Ensures Investment Security

Gate.io Staking is committed to providing users with safe and reliable mining products. Through rigorous protocol reviews and professional risk assessments, the platform conducts in-depth audits of each PoS project. Every staking project is carefully selected. This rigorous selection mechanism provides a solid guarantee for the safety of user assets, allowing users to participate with peace of mind.

Flexible Staking and Redemption Mechanism Empowers User Freedom

The BTC staking product on Gate.io Staking features a flexible staking and redemption mechanism. Users can adjust their asset allocation at any time according to their own needs, without worrying about long-term lock-up of funds. The flexible operation mechanism gives users greater autonomy, enabling them to better respond to market changes and achieve optimal asset allocation.

100% Proof of Reserve Mechanism Secures Asset Safety

To further protect user asset security, Gate.io Staking adopts a 100% Proof of Reserve mechanism, ensuring that each user’s funds are fully backed by sufficient reserves, effectively reducing investment risks. Meanwhile, the platform automatically distributes returns on a daily basis, allowing users to track asset growth in real time and ensuring clear and transparent earnings.

Join Now to Seize the Opportunity for Asset Growth

Gate.io Staking’s new BTC staking product is now officially live, and the Web3 wallet incentive campaign is also underway. Users only need to update their app to version 6.60.0 to access the BTC product and start staking. After completing the Web3 wallet tasks, users can enjoy additional rewards.

With advantages such as professional project selection, a flexible staking and redemption mechanism, and a 100% proof of reserve mechanism, Gate.io Staking provides users with a secure, efficient, and transparent digital asset financial service. Gate.io looks forward to the participation of users worldwide to jointly seize this new opportunity for digital asset growth.

Disclaimer: This content does not constitute an offer, solicitation, or recommendation. You should always seek independent professional advice before making investment decisions. Gate.io may restrict or prohibit certain services in specific jurisdictions. For more details, please read the User Agreement.

The post Gate.io Staking: BTC Staking Product Newly Launched, Complete Web3 Wallet Tasks to Gain Bonus Returns appeared first on BeInCrypto.

Coinstore, the leading cryptocurrency exchange, has reached 10 million registered users worldwide, marking a significant milestone in its growth journey. This achievement is more than just a number—it reflects Coinstore’s rapid momentum and expanding presence in the crypto industry. To commemorate this extraordinary achievement, Coinstore will host a grand celebration event featuring a $100,000+ prize pool and exclusive rewards for both new and regular users.

When Coinstore reached 10,000,000 users, it marked a pivotal moment in history. Coinstore had already demonstrated its commitment to user security, intuitive design, and responsive customer service. This foundation helped propel Coinstore from a promising newcomer to an established builder in the crypto industry.

“Reaching 10 million users is an extraordinary milestone for Coinstore, but this is just the beginning,” said Johnson, CEO at Coinstore. “While we’re proud of this achievement, we see it as merely the first chapter in our story. Moving forward, we will continue to put our users first in everything we do, from enhancing security and improving user experience to expanding our services and entering new markets. Our users’ trust is the foundation of our success, and we’re committed to building a platform that serves their needs not just today, but well into the future.”

To commemorate this historic 10 million user milestone, Coinstore is unveiling an extensive 10M Celebration campaign running from April 21st to May 8th, 2025. The celebration features an unprecedented lineup of incentives and events with a $1000,000 rewards pool.

Celebrate with Coinstore, $10,000 Giveaway: Celebrate this milestone with Coinstore’s partners while exploring exciting crypto projects and sharing in a $10,000 prize pool. Simple tasks, generous rewards!

10M Users, the Celebration Starts Now: Join our platform campaign to share $100,000 prize pool from 22nd April to 8th May.

Social Media $15,000 airdrop: Join the excitement across our social media channels! With a combined prize pool of $15,000, everyone has a chance to win big. Participate in giveaways, joint airdrops with KOLs, create content for Cointore’s milestones, and test your knowledge in weekly quizzes and polls. Don’t miss these opportunities to engage and win!

A series of exciting spaces in collaboration with our partners and renowned projects awaits! Join us as we dive into meaningful discussions, explore innovative crypto projects, and share insights that shape the future of the industry. To make it even more exciting, there’s a generous prize pool of $6,000 for grabs. Don’t miss this opportunity to connect, learn, and win big!

The two weeks long celebration window ensures maximum participation opportunity for Coinstore’s global community, allowing users across all time zones and schedules to take full advantage of these unprecedented offerings.

This campaign invited ecosystem partners from the Coinstore, including My First Million, RECON, ANTY, Zarraz Dollar, Anryton, Xphere, Airdao, Oxygen Hunters, $GOHOME, RedBelly Network, PussFi, NexBridge, and First Digital to participate together.

Media coverage for the event is supported by partners including BeInCrypto, Coinpedia, M post , Coinedition, Voice Of Crypto, Cryptonite, Coinscapture, TheNewsCrypto, CoinGabbar, Blog Tiền Ảo, DroomDroom, BitPinas, Cryptic Web3, Connect Web 3, The Blockopedia, BitDigest, Geekmetaverse.com, Lydian Labs, Allconfs, TokTimes, 36 Crypto, KTRO Media, AZCoiner, Tiendientu, and Lcadamey.

Coinstore expresses its deepest gratitude to all users for their unwavering support and trust. Reaching 10 million users represents not just a company milestone but a testament to the growing global crypto community. Coinstore pledges to stay at the forefront, developing  solutions that empower users to thrive in this dynamic environment. 

About Coinstore

Accessibility. Security. Equity.

As a leading global platform for cryptocurrency and blockchain technology, Coinstore seeks to build an ecosystem that grants everyone access to digital assets and blockchain technology. With over 10 million users worldwide, more than 1,100 listed tokens including 100+ premium digital assets. Coinstore is dedicated to providing secure, professional, and accessible digital asset trading service.

As a pioneer in Launchpad, Coinstore’s Launchpad have shown remarkable performance, with  an average ROI of prime exceeding 1,200%. Coinstore, the first choice for the initial launch.

Official website | Linkedin | Telegram | X

The post Coinstore Hits 10 Million Users Milestone, Join Grand Celebration with $100,000+ Prize Pool appeared first on BeInCrypto.

Onyxcoin (XCN) experienced an impressive rally earlier this month but has struggled to recover from subsequent declines. Despite initial optimism, the altcoin has failed to regain its momentum, leaving XCN holders increasingly impatient. 

As the market sentiment turns uncertain, XCN enthusiasts are questioning the potential for a price uptrend.

Onyxcoin Investors Are Uncertain Of Returns

The current market sentiment for Onyxcoin is largely negative, as reflected in its funding rate. The negative funding rate indicates that more traders are betting against the coin by placing short contracts in the futures market. 

This growing dominance of short positions signals skepticism among investors, who are primarily aiming to profit from a potential price drop rather than expecting upward movement. The market is currently more inclined toward caution, and the lack of confidence in a price uptrend has led to increased bearish sentiment among traders.

Onyxcoin’s macro momentum also presents challenges for investors. The Chaikin Money Flow (CMF) indicator, which measures the volume-weighted average of accumulation and distribution, is currently in negative territory, signaling that outflows are still dominating the market. Although the CMF is slightly rising, it has not been able to sustain any meaningful upward movement. This continued dominance of outflows suggests that XCN is still struggling to maintain bullish momentum.

Until the CMF consistently rises above the zero line, the overall sentiment remains cautious. This inability to gain traction could hinder XCN’s potential to break past key resistance levels, leaving the altcoin vulnerable to further declines.

XCN Price Needs A Boost

XCN price is currently trading at $0.0186, showing a modest 11% increase over the last 24 hours. While the broader crypto market has experienced an uptick, XCN may struggle to hold above its support at $0.0182.

If the altcoin fails to maintain this level, a drop to $0.0150 is likely, marking a two-week low for the token. This would wipe out the recent gains and could trigger further selling as investors look to minimize their losses.

On the other hand, if XCN successfully secures $0.0182 as a support floor, it could signal a potential recovery. In this scenario, the altcoin might rise to $0.0237, invalidating the bearish outlook and providing an opportunity for further gains. However, this will require stronger investor confidence and broader market support.

The post Onyxcoin (XCN) Price’s 11% Rise In 24 Hours May Not Survive For Too Long appeared first on BeInCrypto.

Immutable (IMX) has emerged as the market’s top gainer over the past 24 hours, rallying more than 40% as bullish sentiment strengthens across the crypto market. 

The surge comes as Bitcoin (BTC) reclaims the key psychological level of $90,000, fueling a broader market rebound that has lifted several altcoins.

IMX Surges 41% to 27-Day High

IMX currently trades at a 27-day high of $0.65, noting a 41% price hike over the past day. During the same period, its trading volume recorded a surge of 761%, confirming the uptick in IMX’s trading activity.

When an asset’s price and trading volume rise simultaneously, it signals strong market interest and increased buying pressure. The combination confirms the strength of IMX’s bullish trend, as more traders are entering positions at higher prices. This indicates the potential for continued upward momentum.

On the daily chart, IMX trades above its 20-day exponential moving average (EMA), highlighting the bullish bias among its spot market participants. This key moving average measures an asset’s average trading price over the past 20 trading days, giving more weight to recent prices. 

When an asset’s price climbs above this level, it suggests a shift toward short-term bullish momentum. This crossover confirms that IMX buyers are gaining control, and the asset is entering an uptrend. 

Further, readings from the token’s Moving Average Convergence Divergence (MACD) support this bullish outlook. At press time, the MACD line (blue) rests above the signal (yellow) and zero lines.

An asset’s MACD indicator identifies trends and momentum in its price movement. It helps traders spot potential buy or sell signals through crossovers between the MACD and signal lines. 

When the MACD line rests above the signal line, buying activity dominates the market. For IMX, this setup reinforces the recent price surge and suggests that upward pressure may continue as traders build confidence in the asset’s short-term trajectory.

IMX Bulls in Control: Rally Could Extend to $0.87

IMX’s Balance of Power (BoP) currently rests above zero at 0.54, signaling that buyers control the market. A BoP reading above zero reflects strong accumulation, indicating demand outweighs selling pressure. 

This reading supports the broader bullish outlook for IMX, suggesting that the recent price rally is backed by sustained investor interest. In this case, IMX could extend its rally to $0.79. 

However, if traders begin profit-taking, IMX could reverse its current uptrend and fall to $0.34.

The post Immutable (IMX) Hits 27-Day High as Token Leads Market Gains appeared first on BeInCrypto.

Tesla’s Q1 2025 financial report reveals that despite missing revenue expectations, the company still holds over $951 million worth of Bitcoin.

After its initial purchase in February 2021 and the sale of 75% of its Bitcoin holdings in July 2022, Tesla currently holds approximately 11,509 BTC.

Bitcoin Remains a Strategic Asset for Tesla

According to a filing with the US Securities and Exchange Commission (SEC) on April 22, 2025, Tesla’s Q1 revenue reached $19.34 billion. This figure falls significantly short of market expectations, which stood at $21.37 billion.

The electric vehicle segment, Tesla’s primary revenue stream, posted a 20% year-over-year decline. The main reason is a 13% drop in deliveries and a 16% reduction in production.

Despite this, Tesla’s stock price has dropped 41% since the beginning of 2025, under pressure from controversies surrounding CEO Elon Musk’s involvement in government roles and ongoing protests against the company.

A key point of interest in Tesla’s Q1 2025 financial report for the crypto community is the company’s Bitcoin holdings. As of March 31, 2025, Tesla owns 11,509 Bitcoin, valued at approximately $951 million, according to data from Bitcointreasuries.net.

Bitcoin’s 12% decline in Q1 2025 slightly reduced the value of Tesla’s BTC stash from $1.076 billion at the end of 2024. However, today, with Bitcoin prices rising 6% to $93,000, the value of Tesla’s Bitcoin holdings has again exceeded $1 billion.

New regulations by the Financial Accounting Standards Board (FASB) require companies to mark digital assets to market value each quarter, impacting Tesla’s financial reporting. Previously, this rule enabled Tesla to record a $600 million profit from Bitcoin in Q4 2024 due to market appreciation.

Thus, Tesla did not make any Bitcoin-related transactions during this quarter. This indicates the company is sticking with a HODL strategy, treating Bitcoin as part of its strategic investment portfolio. Other major firms, like Strategy and Metaplanet, are also following this long-term holding approach.

Elon Musk Refocuses on Tesla

Tesla’s continued Bitcoin holding amid market volatility shows Elon Musk’s confidence in the cryptocurrency’s long-term potential. However, it also raises questions about the fate of Tesla’s BTC stash, especially as Musk is expected to reduce his focus on DOGE and shift more attention back to Tesla starting this May.

“Not stepping down, just reducing time allocation now that @DOGE is established,” Musk stated.

Tesla now stands at a critical crossroads, with Dan Ives, an analyst at Wedbush, calling it a “code red situation.” If the current scenario persists, Musk may be forced to restructure Tesla’s financial strategy, including its Bitcoin holdings.

BeInCrypto reported that the cryptocurrency market will be volatile in the short term until mid-May 2025, citing economic pressures and trade policy uncertainty. The market might stabilize in mid- to late-Q2, supported by historical trends and loose monetary policy. Strong growth is expected in Q3, driven by Bitcoin’s post-halving cycle, institutional adoption, and clearer US crypto regulations.

The post Tesla Misses Q1 Revenue Targets but Still HODLs 11,509 BTC—Now Worth $1 Billion Again appeared first on BeInCrypto.

The US Securities and Exchange Commission (SEC) has charged Ramil Palafox, a dual US-Philippine national, with orchestrating a $198 million crypto scam.

From January 2020 to October 2021, Palafox ran a Ponzi-style scheme through his company, PGI Global, defrauding many investors.

SEC Cracks Down on Massive Crypto Scam 

According to the press release, the regulator claims that Palafox raised about $198 million from investors globally. He promised them substantial returns from crypto and foreign exchange trading.

Nonetheless, the SEC alleges that Palafox misused over $57 million of the funds for personal purchases.

“As alleged in our complaint, Palafox attracted investors with the allure of guaranteed profits from sophisticated crypto asset and foreign exchange trading, but instead of trading, Palafox bought himself and his family cars, watches, and homes using millions of dollars of investor funds,” Associate Director of the SEC’s Philadelphia Regional Office Scott Thompson stated.

Furthermore, the company operated with a multi-level marketing (MLM) structure. Palafox attracted investors by claiming expertise in the crypto sector and offering an artificial intelligence (AI)-driven trading platform. Yet, both of these claims proved to be fraudulent.

The scheme eventually collapsed in 2021, resulting in significant financial losses for investors.

“The SEC’s complaint, filed in the US District Court for the Eastern District of Virginia, charges Palafox with violating the anti-fraud and registration provisions of the federal securities laws,” the press release detailed.

The SEC demands that Palafox return ill-gotten gains and pay civil penalties. The regulator has also asked for a permanent injunction to prevent Palafox from engaging in similar activities in the future. Additionally, the US Attorney’s Office has filed criminal charges.

Iranian National Charged for Running Dark Web Marketplace

Meanwhile, in a separate case, a federal jury indicted Iranian national Behrouz Parsarad for founding and operating a dark web marketplace. According to the US Office of Public Affairs, the Nemesis market facilitated the illegal sale of drugs, including fentanyl and other controlled substances. The marketplace was also involved in criminal activities like stealing financial data and distributing malware. 

Between 2021 and 2024, Nemesis processed over 400,000 orders. In addition to drug trafficking, Parsarad is also charged with money laundering for using crypto to conceal the proceeds of illegal activities.

“Nemesis users were not allowed to conduct transactions in official, government-backed currencies,” the press release read.

The accused now faces a mandatory minimum sentence of 10 years in federal prison, with a maximum penalty of life if convicted.

Previously, BeInCrypto highlighted that the FBI arrested Anurag Pramod Murarka for laundering over $24 million using the dark web. The cases highlight the US government’s intensified focus on regulating the cryptocurrency sector and combating cybercrime.

The post Crypto Scam Fallout: SEC Charges Ramil Palafox with $198 Million Fraud appeared first on BeInCrypto.

The saying “A rising tide lifts all boats” perfectly captures the current state of the crypto market, as Bitcoin’s rise has propelled altcoins higher. Among the beneficiaries are the crypto tokens within the SUI network.

BeInCrypto has analyzed three such SUI ecosystem tokens to watch this week and their potential for further gains.

Walrus (WAL)

WAL has experienced a notable 22% increase over the last 24 hours, now trading at $0.504. This surge is a result of heightened market volatility throughout the month.

WAL is attempting to break through the $0.505 barrier for the second time this month. If successful, it could continue its bullish momentum.

If WAL manages to break and sustain above $0.505, it could push toward the $0.547 resistance level. However, for a continued rise, investor confidence and stable market conditions will be crucial. A sustained rise beyond $0.547 could propel the SUI ecosystem token toward $0.600, further supporting bullish sentiment for the token.

However, if WAL fails to breach $0.505, it may fall back to $0.447. This would challenge the altcoin’s recent momentum and could potentially invalidate the bullish outlook. If the decline continues and the price slips below $0.447, WAL could drop further to $0.389, marking a significant setback.

DeepBook (DEEP)

DEEP has seen impressive growth, skyrocketing by 116% over the last 24 hours, now trading at $0.194. This surge makes DEEP the best-performing token in the SUI ecosystem. The altcoin is showing strong potential, targeting a break above $0.230 in the near future, suggesting a bullish outlook.

If DEEP successfully breaches $0.230, it would mark a two-and-a-half-month high, further solidifying its upward momentum. The altcoin could test $0.170 as support before pushing toward $0.304. This would indicate a sustained rally, with continued bullish sentiment and the potential to unlock further growth within the SUI ecosystem.

However, if market sentiment shifts and investors decide to take profits, DEEP could lose its support at $0.170. A drop below this level would open the door for a decline to $0.128. This would invalidate the current bullish thesis, potentially signaling the end of the rally and a substantial setback for the token.

Cetus Protocol (CETUS)

CETUS price surged by 38% over the past 24 hours, reaching a two-and-a-half-month high of $0.142. This substantial rise indicates strong momentum for the altcoin. At this point, CETUS aims to hold above $0.142, establishing it as a reliable support level for potential further gains.

The next major resistance level for CETUS is $0.150, a crucial barrier for the altcoin’s continued upward trajectory. Successfully breaking this resistance will solidify the SUI ecosystem token’s bullish outlook and help the token secure its recent gains. Positive market sentiment and sustained demand will play key roles in this potential breakout.

However, if CETUS fails to maintain the $0.142 support level, the altcoin could face a decline toward $0.131. Further losses may push the price down to $0.120, invalidating the current bullish scenario.

The post 3 SUI Ecosystem Tokens To Watch in the Forth Week of April 2025 appeared first on BeInCrypto.

Bitcoin (BTC) price is trading with a bullish bias, confronting the resistance at $94,000 with prospects for more gains. However, a renowned analyst says to temper Bitcoin rally hopes, citing a crucial indicator.

For a sustained rally, capital needs to enter the market consistently, as this provides the liquidity needed for further upside.

Lagging Stablecoin Indicator Threatens Bitcoin’s $100,000 Target

The Bitcoin price outlook was bullish on Wednesday during the early hours of the Asian session. Bullish technical formations, including the falling wedge pattern, hinted at further upside for the pioneer crypto.

As of this writing, Bitcoin was trading for $93,714, with up to 9% of a 20% potential rally still in the cards. The falling wedge pattern’s target objective is the 20% climb, determined by measuring the longest height of the wedge and superimposing it at the breakout point.

This bullish reversal is already in action after Bitcoin price flipped the critical resistance at $85,000 into support and converted the support zone into a bullish breaker.

Based on the daily chart above for the BTC/USDT trading pair, a daily candlestick close above $91,575 could set the tone for Bitcoin’s price to move further upside.

Increased buying pressure beyond the immediate resistance at $94,000 could see Bitcoin price eye $100,000 next. BTC could extend to the $102,239 target objective in a highly bullish case.

Technical indicators align with this outlook. The Relative Strength Index (RSI) is rising, recording higher highs, suggesting growing momentum. Its position below 70 indicates there was still more room upward before BTC was overbought and at risk of correction.

Similarly, the Awesome Oscillator (AO) histograms flashed green, indicating bullish control. Their position above the midline (in positive territory) adds credence to the bullish thesis.

However, 10x Research’s head of research, Markus Thielen, urges caution, citing the lagging stablecoin minting indicator.

“Given that our stablecoin minting indicator has yet to return to high-activity levels, we remain cautious about the sustainability of the current Bitcoin rally,” Thielen wrote in the latest 10X research.

The stablecoin minting indicator refers to the issuance or creation of new stablecoins, such as Tether (USDT) or USD Coin (USDC). Stablecoin minting often signals capital entering the crypto market, and it can have several implications for Bitcoin’s price.

Among them are increased liquidity and confidence in the market as investors anticipate profitable opportunities. Both of these are signs of potential bullish pressure.

According to the analyst, the absence of strong stablecoin inflows “raises questions about follow-through.” Bitcoin’s rally to the $100,000 psychological level remains under threat.

It is worth noting that stablecoins are less significant as a leading indicator for Bitcoin’s price. Analysts cite other factors like institutional inflows via ETFs (exchange-traded funds) or Strategy (MSTR) purchases.

Nevertheless, if profit-taking commences, a candlestick close below the midline of the bullish breaker at $86,562 could reverse the trend. This could plunge Bitcoin back into consolidation below the crucial level of $85,000.

The post Analyst Says To Temper Bitcoin Rally Hopes As Stablecoin Minting Indicator Lags appeared first on BeInCrypto.

Bitcoin (BTC) reclaimed the $93,000 threshold during the early hours of the Asian session on Wednesday. The show of strength came after President Trump articulated his position about Federal Reserve (Fed) chair Jerome Powell’s replacement talks.

Over the past several months, the pioneer crypto has demonstrated increased correlation with broader economic and political issues. This suggests that macroeconomics is growing in influence on Bitcoin.

Trump Has No Intention To Fire Fed’s Powell

Barely a week ago, BeInCrypto reported that a Fed chair change was imminent. This was amid the economic strain caused by Trump’s Tariffs.

The report followed Treasury Secretary Scott Bessent’s announcement that the Trump administration was planning to interview candidates to replace Jerome Powell.

Reports of opposing views between Trump and Powell concerning interest rate cuts exacerbated the idea. On the one hand, Trump wants the Fed to cut interest rates to cushion Americans from the effects of the trade wars.

“The Fed would be much better off cutting rates as US Tariffs start to transition (ease!) their way into the economy. Do the right thing,” Trump wrote on Truth Social.

On the other hand, Powell insists on a cautious approach to monetary policy decisions, rejecting further interest rate cuts. The Fed also made significant downward revisions to its 2025 economic projections.

These opposing views fanned speculation that Jerome Powell’s job as Fed chair was at risk. In a recent development, however, Trump stated that he has no plans to fire Powell.

“I have no intention of firing him…I would like to see him be a little more active in terms of his idea to lower interest rates,” Reuters reported, citing Trump telling reporters in the Oval Office on Tuesday.

In the immediate aftermath, Bitcoin shattered past the $93,000 threshold. As of this writing, BTC was trading for $93,136, representing a surge of almost 6% in the last 24 hours.

Notably, there are about 13 months left in Jerome Powell’s tenure as chair of the Federal Reserve.

Bitcoin Benefits From Eroded Trust in Government

BitMEX founder and former CEO Arthur Hayes commented on the swift reaction to this topic on the Bitcoin price chart.

“Trump says he wants to fire JAYPOW – dollar dips, BTC rips Trump says he has no intention of firing JAYPOW – dollar rips, BTC rips some more,” Hayes quipped.

This comment highlights market sensitivity to political uncertainty in 2025. In hindsight, the US Dollar Index (DXY) recently dropped to a 3-year low, fueled by President Trump’s push to oust the Fed chair.

In tandem, Bitcoin rallied as investors viewed it as a potential hedge against a weakening dollar and inflationary pressures.

As Trump’s stances cause market volatility, fluctuations in the dollar are bullish for Bitcoin, reflecting its appeal as a hedge against traditional financial (TradFi) instability.

BeInCrypto reported this status in a recent US Crypto News publication, citing Geoff Kendrick, the Head of Digital Asset Research at Standard Chartered.

According to Kendrick, Bitcoin is increasingly seen as a hedge against TradFi and US Treasuries risks.

“I think Bitcoin is a hedge against both TradFi and US Treasury risks. The threat to remove US Federal Reserve Chair Jerome Powell falls into Treasury risk—so the hedge is on,” Kendrick told BeInCrypto.

Meanwhile, Nate Geraci, the president of the ETF Store, says Bitcoin is benefiting from the erosion of trust in governments and politicians, which is pushing people towards alternatives.

“Bitcoin is one of the biggest winners from events over the past several weeks IMO, at least from a philosophical standpoint. Further erosion of trust in governments and politicians will push people towards alternatives. Not saying that is good or bad, but think logically,” Geraci remarked.

The post Bitcoin Reclaims $93,000 After Trump Quells Fed Chair Jerome Powell Firing Talks appeared first on BeInCrypto.

Yesterday, Bitcoin exchange-traded funds (ETFs) saw significant inflows, marking the third consecutive day of net positive flows. 

With BTC now trading back above the $90,000 mark, signs point to renewed institutional interest, as major players appear to be piling back into the market after weeks of caution.

BTC ETF Inflows Jump 146% in a Day

On Wednesday, net inflows into US-based spot Bitcoin ETFs surged to $936.43 million, a 146% jump from the $381.40 million recorded the previous day. 

This also represented the largest single-day inflow since January 17, signaling a notable resurgence in institutional demand for BTC exposure.

Ark Invest and 21Shares’ ETF ARKB led the inflow charge, recording the highest daily net inflow of $267.10 million, bringing its total cumulative net inflows to $2.87 billion.

Fidelity’s ETF FBTC followed with a net inflow of $253.82 million. The ETF’s total historical net inflows now stand at $11.62 billion.

BTC’s Price Pumps, But Derivatives Traders Bet on a Fall

On the derivatives side, open interest in BTC futures has also climbed, reflecting the increased trading activity and speculative positioning as the coin attempts to stabilize above $90,000. 

BTC trades at $93,548 at press time, noting a 6% price surge over the past day. During the same period, its futures open interest has also risen by 16%. As of this writing, it stands at $67.19 billion, its highest level since January 24. 

When an asset’s price and open interest rise simultaneously, it signals strong conviction behind the move. It means more capital is entering the market to support the uptrend.

However, not all indicators point to bullish sentiment.

Despite BTC’s price surge over the past day,  the funding rate remains negative, suggesting that traders are paying a premium to short the coin in the futures markets. The coin’s funding rate is currently at -0.01%.

BTC’s negative funding rate means that shorts are paying longs to keep their positions open. This indicates that more traders are betting against BTC’s current rally and are anticipating a bearish reversal. 

Additionally, the put-to-call ratio leans bearish. This confirms waning investor confidence and expectations of downward price movement among BTC options traders.

With BTC hovering above a key psychological level and institutional inflows rising, the coming days could reveal whether this momentum holds.

The post Bitcoin ETF Inflows Hit 3-Day Streak: Smart Money or Bull Trap? | ETF News appeared first on BeInCrypto.