Crypto

Crypto Market Analysis

Market Analysis | 03 May 2024

BTC (+3.6%) seems to be in its ‘post-halving danger zone’ as it exhibits a similar trend of downside volatility as during the halving that happened in 2016. It is crucial for BTC to maintain the $58k level in order to potentially avoid an extended decline. Simultaneously, while spot BTC ETFs saw a combined outflow of $563 million on Wednesday, BlackRock predicts that there will be a new wave of inflows from different types of investors, including sovereign wealth funds, pension funds, and endowments. The company expects a pent-up demand for BTC exposure via the ETFs.

In other news, MicroStrategy (MSTR), the largest corporate holder of Bitcoin, has announced that it plans to create a decentralized identity service using Ordinals inscriptions. This service will offer secure, immutable identities via the Bitcoin blockchain.

Disclaimer: Crypto products and NFTs are unregulated and can be highly risky. There may be no regulatory recourse for any loss from such transactions. The information provided in this post is not to be considered investment/financial advice from CoinSwitch. Any action taken upon the information shall be at the user’s risk.

Share this:

IN THIS ARTICLE

Subscribe to our newsletter

Weekly crypto updates and insights delivered to your inbox.

Browse our Newsletter Archive for past editions.

SnowSnow

Thank you for subscribing!
Please verify your email to start receiving the latest issues from Switch in your Inbox.
Powered by

Build your crypto portfolio on the
CoinSwitch app today

Scan the QR code below or find us on Google Play
Store or Apple App Store.

Build your crypto portfolio on the
CoinSwitch app today

Scan the QR code below or find us on Google Play Store or Apple App Store.