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DAILY MARKET OVERVIEW
BlackRock Saves the Day

Happy Friday, crypto enthusiasts! It’s time for your weekly dose of market excitement

It’s been a wild week in the crypto world so let’s dive in.

First off, BlackRock came in clutch and saved the day by recording a massive $192 million in net inflows to its Bitcoin ETF. Just in the nick of time, as Grayscale was seeing some hefty outflows of over $124 million. Looks like BlackRock is really stepping up to be the hero the crypto markets need right now.

And speaking of ETFs, it seems the majority of the inflows have been from retail investors so far. But according to VanEck’s CEO, we could be seeing some major institutional money start pouring in next month. The Bitcoin ETF landscape is still in its infancy, but it’s about to get a whole lot more exciting!

And let’s not forget about those exchange balances – the amount of Bitcoin available for sale on exchanges is dwindling, down by over 21,000 BTC in the last two weeks. That’s a clear sign that coins are being taken off exchanges and held for the long-term. With the halving just around the corner, this could be a recipe for some serious rocket fuel for Bitcoin prices!

But wait, there’s more! BlackRock is getting even more advanced, tokenizing their BUIDL fund and allowing 24/7 conversions to USDC.

Meanwhile, El Salvador is getting in on the tokenized action, with a new Hilton hotel set to tap into tokenized debt on the Bitcoin Liquid Network. And Pepe Coin is even getting in on the fun, with Coinbase International planning to list perpetual futures for the popular meme coin

It has been quite the week! The crypto markets are truly a rollercoaster ride, but with all this innovation, big money entering, and halving hype, it’s shaping up to be one wild ride.

TWITTER SENTIMENT
Ondo Finance & Blackrock

The current mood on Twitter appears rather downbeat, likely due to the recent drop in market activity & prices.

However, interesting rumors have started spreading about transactions between Ondo Finance (ONDO) and the investment firm Blackrock.

While the details of this deal are not yet known, it seems Ondo has withdrawn 250,000 USDC from Blackrock’s BUIDL fund. The reasons behind this are unclear, leading many Twitter users to speculate about a possible connection or cooperation brewing between Ondo and Blackrock.

Bitcoin Runes

The Crypto Twitter community has been buzzing about the upcoming launch of Runes, a new token standard on the Bitcoin network.

The launch of Runes on April 20th has generated a lot of discussion and anticipation within the crypto community, especially those interested in Bitcoin-based decentralized applications and digital assets.

Runes are similar to Ordinals, a previous innovation that saw a lot of attention a few months ago. However, Ordinals have faced some technical limitations that Runes aims to fix.

Runes will allow users to store information like tokens and NFTs directly on the Bitcoin blockchain. One of the best-performing projects so far planning to utilize the Runes standard is PUPS, which is described as the first meme coin on Bitcoin.

NEWS OVERVIEW
Recent Crypto News

• Hong Kong-Listed Bitcoin ETFs Could Unlock Up To $25B In Demand

• Bitcoin Cash’s Market Behavior Offers Halving Warning To Bitcoin Traders

• FTX Founder Sam Bankman-Fried Appeals Jail Sentence

• Post-Halving Outlook: RUNE, STX, And ORDI Tokens Poised For Gains

YOUTUBE INFLUENCER SUMMARY
Ivan On Tech -BUYING BITCOIN AND ALTCOINS TODAY!!!! (12.04.2024 Summary)

Buckle up, crypto fans, because expert Ivan is back with another wild ride through the world of Bitcoin and altcoins!

In this update, Ivan is pumped about Bitcoin’s recent climb to around $71,000. But the real excitement is brewing on the Ethereum front, as the network is gearing up for some major upgrades that are about to make it way more user-friendly.

• Regular Ethereum addresses are about to become programmable, which means you’ll be able to do all kinds of crazy stuff, like automatically trading your coins or even trading multiple coins in 1 transaction.

• Ivan’s got visions of Ethereum becoming the Wild West of DeFi, with scammers lining up to drain unsuspecting wallets. But he also sees huge potential for new apps and services to flourish.

• And the institutional money is pouring in too! Ivan’s blown away that financial titans like BlackRock are now letting investors redeem their Ethereum-based funds directly on the blockchain. Talk about breaking down the barriers between Wall Street and the crypto space – this is the stuff Ivan’s been ranting about for years, and now it’s happening!

But wait, there’s more! Ivan’s also hyped about the potential for airdrops and new layer-2 blockchains to ignite an altcoin frenzy. He’s got his eyes on projects like Linea, and X-Layer, which are aiming to offer gas-free, frictionless crypto experiences.

According to Ivan, we’re not just talking about slow, steady gains here – we could be on the cusp of another crypto supernova, like the one that turned the “new Boomers” of the Bitcoin world into digital millionaires. So strap in, because this crypto rollercoaster is about to take off to the moon!

Data Dash – The FED Is Not In Control | What It Means For Crypto, Stocks & Precious Metals (12.04.2024 Summary)

In his latest video, DataDash breaks down the latest developments in the financial markets and the role of the Federal Reserve.

According to DataDash, recent economic data like inflation (CPI) and producer prices (PPI) have not matched the Fed’s forecasts.

• This suggests that inflation remains stubbornly high, and the Fed is struggling to keep it under control. DataDash notes that the Fed’s own projections for interest rate cuts have been revised, with most participants now expecting only one rate cut by September, instead of the two cuts they had anticipated just a month ago.

• This shift in the Fed’s policy outlook is concerning for DataDash. He believes it could put significant pressure on riskier assets, such as crypto. Additionally, more data suggest the economy could be headed for a potential downturn.

• DataDash also highlights the potential impact of the strong US dollar (DXY) on the cryptocurrency markets. Since Bitcoin tends to have a negative correlation with the dollar’s strength, a pullback in the DXY could lead to a prolonged rally in risky assets, including cryptocurrencies.

• In terms of his market analysis, DataDash remains cautious. He suggests that the crypto market may be in a period of consolidation, and points to mining stocks like Clean Spark and Marathon Digital Holdings as potential opportunities.

Overall, DataDash’s analysis highlights the complexities facing the markets and the Federal Reserve. With inflation remaining stubbornly high and the Fed’s policy outlook shifting, there are concerns about the potential stress on riskier assets

CRYPTO MEMES