Bitcoin Bulls Welcome New Bull Cycle
In recent cryptocurrency news, Bitcoin bulls are optimistic as a new bull cycle appears to be starting post-April’s halving event. Michael Saylor’s MicroStrategy bolstered this sentiment by acquiring 119,000 BTC for $786 million, increasing its total holdings to over 226,331 tokens worth nearly $15 billion. However, analysts believe additional catalysts are needed for Bitcoin to reach higher valuations despite positive macroeconomic indicators such as increasing global liquidity and falling interest rates in Europe.
The Fear & Greed Index shows a slight decrease in market optimism, dropping from 74 (“Greed”) to 63. Meanwhile, ETF outflows have slowed, and Bitcoin remains stable above $64,000. In other developments, Japanese exchange Bitflyer acquired FTX Japan, CertiK and Kraken resolved their bug bounty dispute, and India may allow Binance to re-enter its market after paying a $2.2 million fine.
Argentinian President Javier Milei reiterated his support for Bitcoin, advocating for free currency competition. The SEC has halted its investigation into Ether as a security, potentially paving the way for Spot Ethereum ETFs in the US. Tether launched a new digital asset, Alloy (XAU₮), backed by physical gold, while the Australian Securities Exchange approved its first Spot Bitcoin ETF by VanEck.
Additionally, Tiger Brokers is expanding into crypto in Hong Kong, and Blockhead is seeking an editorial intern passionate about crypto and writing. Finally, Coinfest Asia is set to be a major Web3 event, and Blockhead’s daily newsletters are now available on LinkedIn.