laguasiangamesindonesia| Bitcoin fell sharply! "More than 110,000 people sold out"

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Original title: big drop! "more than 110000 people explode."

China Fund News reporter Ivan

Us stock market in AprilLaguasiangamesindonesiaOn the last day of 2008, the price of Bitcoin fell below $60,000, the worst monthly performance of the cryptocurrency in nearly two years.

At the end of the day, US stocks fell below US $60,000 in intraday trading, and the trading price on some platforms fell to 5.LaguasiangamesindonesiaBelow 920 million US dollars, down more than 5000 US dollars from the daily high and down more than 8 per cent. As of press time, Bitcoin hovered around $60,000 against the dollar and has fallen more than 5% in the last 24 hours.

According to the cryptocurrency detection website coinglass, there have been about 11 in the last 24 hours.Laguasiangamesindonesia.70,000 people exploded, with a total amount of US $381 million.

It fell by about 16% in April.

Optimism is fading.

In fact, Bitcoin lost more than $10, 000 in April, or about 16%, its worst month since the collapse of FTX, the world's second-largest cryptocurrency exchange, in November 2022.

The optimism of the American exchange-traded funds (ETF) around Bitcoin is also fading.

The frenzy of Bitcoin ETF in the US pushed Bitcoin to a record high of nearly $74000 in March, but inflows into Bitcoin products have fallen sharply as expectations of Fed interest rate cuts have hit demand for risky investments. According to Bloomberg data, 11 bitcoin spot ETF had a net outflow of $182 million in the month ended April 29. Notably, these ETF had net inflows of $4.6 billion in March.

Stocks of U. S. cryptocurrency-related companies fell more than bitcoin. Bakkt Holdings is down 32.63%. MicroStrategy is down 17.63%. Bakkt Holdings is down by Marathon Digital Holdings Inc. -10.93% Magna CleanSpark-10.25% Magi Riot Platforms-8.75%.

The market had been looking forward to halving the quadrennial bitcoin, but since April 19, the impact seems to be minimal and has not continued to push up the price of bitcoin as expected.

"stagnant inflation" seems to be an important reason for the collapse of Bitcoin this month. QCP Capital, a cryptocurrency trading company, pointed out in a research report that the threat of "stagnant inflation" is very real. The weaker-than-expected US GDP data indicates a slowdown in economic growth, while a high core personal consumption expenditure (PCE) index means inflation will remain a thorn in the Fed's side, the report said.

Bitcoin analyst Murad Mahmudov predicts that Bitcoin volatility could continue into the summer, according to BeInCrypto. During this period, investors will look for clues to determine whether the current trend is bottoming out or has peaked.

Investors turn their attention to cryptocurrency products in Hong Kong market

Despite the pessimistic forecasts made by some analysts, Lark Davis, a well-known bitcoin entrepreneur, is still optimistic about the development of the industry in the future. Citing news of Morgan Stanley's participation in Bitcoin spot ETF, he pointed out that traditional financial institutions are increasingly receptive to cryptocurrencies.

He also believes that Hong Kong's approval of the listing of bitcoin and ethercoin spot ETF could arouse great interest from Asian institutional investors. Davis indicates that ifLaguasiangamesindonesiaYou are still pessimistic and you need to know that more and more institutional investors are joining in.

As of April 30, the total trading volume of the six spot ETF of virtual assets issued in Hong Kong was about HK $87.58 million, of which Huaxia products accounted for nearly 57 per cent, according to the Hong Kong Stock Exchange. When it comes to BTC spot ETF transactions, Huaxia's ETF trading volume is HK $37.16 million, Castrol HK $17.89 million and Bosch HK $12.44 million. In terms of ETH ETF transactions, Huaxia's ETF trading volume was HK $12.66 million, Castrol recorded HK $4.95 million, and Bosch HK $2.48 million.

The HKEx said the launch of spot ETF on virtual assets would increase the range of products in the Hong Kong market, provide investors with a wider range of choices and consolidate Hong Kong's position as the leading ETF market in Asia.

Rebecca Sin, an analyst at Bloomberg think-tank, estimates that ETF, a Hong Kong-listed encryption asset, could accumulate $1 billion over the next two years.