💰 Bitcoin’s MVRV ratio shows LTHs move the market while STHs reactBitcoin's volatility often seems as unpredictable as the weather, the market value to realized value (MVRV) ratio stands out as a beacon of analytical insight. It's not just any indicator; it's a deep dive into the psyche of Bitcoin investors, splitting them into the camps of long-term holders (LTHs) and short-term holders (STHs), each with their investment strategies and market impact. Recent analysis of Glassnode data has uncovered fascinating trends in the MVRV ratio.

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💰 Fidelity’s FBTC spot Bitcoin ETF surpasses 150,000 BTC within three monthsFidelity’s FBTC spot Bitcoin exchange-traded fund has officially crossed 150,000 in assets under management. The newborn-nine spot bitcoin ETFs — excluding Grayscale’s converted GBTC fund — total more than 520,000 BTC. Fidelity’s FBTC has amassed a total of 150,563 BTC in assets — worth around $10.1 billion at current prices — according to the funds’ latest disclosure. Of the newborn-nine ETFs, BlackRock’s IBIT currently leads with 263,937 BTC ($18.5 billion) and Ark Invest 21Shares’ ARKB is third with 43,726 BTC ($3.1 billion), according to CoinGlass data.

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💰 BTC halving to fuel ‘raging firesale of crypto assets’ — Arthur HayesThe Bitcoin halving this month, combined with a “bag of tricks” from the Federal Reserve and Treasury, will “add propellant to a raging firesale of crypto assets” and depress the crypto market for weeks, says BitMEX co-founder Arthur Hayes. In an April 8 blog post, Hayes wrote he believed the Bitcoin halving would “pump prices in the medium term” but warned crypto prices “directly before and after could be negative.”.

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💰 Ark Invest’s spot bitcoin ETF sees daily net outflow of $87 millionArk Invest 21Shares’ ARKB fund saw net outflows of $87.5 million on Tuesday, the highest since its debut, according to data from SoSoValue. The amount surpasses outflows seen from Grayscale’s GBTC, which recorded $81.9 million on the same day. Just on Monday, ARKB experienced net outflows for the first time since its debut. Notably, ARKB has had a cumulative net inflow of $2.2B to date, according to SoSoValue data.

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💰 Hut8 Mining CEO says Bitcoin’s coming halving will be on a ‘different scale’Hut 8 Mining CEO Asher Genoot said the coming Bitcoin halving will be on a “different scale” in terms of impact on the mining industry. Genoot said during an interview with Bloomberg on April 2 that large scale miners must become “low-cost operators” to ensure they can survive the turbulent market conditions post-halving. Genoot added that this is a core part of Hut8’s strategy as evidenced by strong balance sheet with a substantial Bitcoin reserve of approximately 9,100 BTC, worth around $600 million as of press time.

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💰 Burkett Financial Services buys Bitcoin via ETFsBurkett Financial Services, a South Carolina-based financial planner, disclosed investments in two Bitcoin exchange-traded funds (ETFs) on April 1. Burkett’s latest Form 13F filing indicates it holds 602 shares of BlackRock’s iShares Bitcoin Trust (IBIT), a spot Bitcoin ETF. The firm’s holdings are valued at $24,363. The company also holds 630 shares of ProShares’ Bitcoin Strategy ETF (BITO), which invests in Bitcoin futures. Its BITO shares are valued at $20,344 in total.

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💰 Bitcoin ETFs break trend recording modest inflows as GBTC continues outflowAccording to data from BitMEX, the Bitcoin (BTC) ETF market experienced its first day of net inflows since March 15, collecting a modest $15.7 million, or 221.2 Bitcoin. This event paused five consecutive days of net outflows and represented the second-smallest day of inflows recorded. Despite this positive shift, the larger narrative remained overshadowed by the substantial outflows from GBTC, which amounted to $350.1 million or 4,933.7 BTC. Consequently, GBTC’s cumulative outflows have reached $14,150.6 billion, equivalent to 275,059 BTC.

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💰 BlackRock: “Bitcoin Overwhelmingly Number One Priority for Investors”

BlackRock’s journey into the world of Bitcoin began as early as 2016, marking a multi-year evolution in strategy and outlook. Robert Mitchnick highlights the growing interest among BlackRock’s clients in gaining exposure to Bitcoin, with a notable focus on the iShares Bitcoin Trust (IBIT) ETF managed by BlackRock. However, demand for other digital assets remains minimal, with Mitchnick stating, For every other digital asset, demand is “very, very little.”

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*💰 *Bitcoin bearish bias remains strongBitcoin’s (BTC) attempt to recover and reclaim its all-time high above $73,000 is facing hurdles, with the asset currently trading below the $70,000 mark amid anticipation ahead of the halving event. Recent price movements have led to Bitcoin’s bearish price predictions, with a section of the market suggesting the outlook is part of the pre-halving retrace. For instance, cryptocurrency trading expert Alan Santana, in a TradingView post on March 23, warned investors to brace for a sell-off, noting that Bitcoin’s bearish bias remains strong.

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🥇 Bitcoin halving event now just a month away, expected to occur on 4/20Bitcoin’s next halving event is now just a calendar month away with approximately 4,450 blocks to go, according to estimates from The Block’s Bitcoin Halving Countdown page. The estimated countdown is based on Bitcoin's average block generation time of 10 minutes, setting a potential date of April 20 at around 8 a.m. EDT at the current pace. Bitcoin’s next halving event will see the reward for miners on the network drop from 6.25 BTC to 3.125 BTC per block.

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