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Analysts at Bernstein see the slowing spot bitcoin ETF flows as a “short-term pause” before the foremost cryptocurrency resumes its bull run toward their $150,000 target. The analysts also argued spot Ethereum ETF denials could be bullish for ether and reiterated their anticipation that the total crypto market cap would triple to $7.5 trillion.
Bitcoin has fallen below the $63,000 mark as weak U.S. GDP growth spreads rate-cut gloom. However, major stock indices have remained robust in the face of higher-for-longer rates.
SlowMist’s information security chief alerted that a hacker from North Korea’s Lazarus Group is posing as an executive member of asset management firm Fenbushi Capital. Lazarus usually impersonates an investor to target prominent DeFi projects, SlowMist said.
The week ahead will certainly not be a quiet one with a major economic report, a big Federal Reserve meeting, and a flood of earnings reports.
- 11:30A whale deposited 33,383 ETH into Binance half an hour ago, worth over $100 millionPANews reported on April 29 that according to monitoring by The Data Nerd, 30 minutes ago, a whale with the ID starting with 0x8e6 deposited 33,383 ETH (worth approximately US$106.36 million) into Binance.
- 11:29Core PCE data continues to be high, and US Treasury yields have a respiteAccording to BlockBeats, U.S. bond yields took a slight breather last Friday. The core PCE data was basically in line with analysts' high expectations. At the same time, core services increased by 0.39% month-on-month, higher than 0.19% in February. Actual personal consumption expenditures also unexpectedly rose, and the economy and price pressures were more stubborn than expected. However, with U.S. Treasury positions approaching extreme bearishness and PCE results no worse than market expectations, rates slid about 3 basis points across the board and the Nasdaq gained 2% on yield moves and strong tech earnings. The FOMC meeting will be the main focus this week, but the market will also be affected by the US JOLTS and non-farm payrolls data before and after the meeting, while CPI and Nvidia earnings are expected to be the biggest market influencers later this month. On the cryptocurrency front, none of the major ETF products saw significant buying interest, with $84 million in outflows on Friday following a $218 million outflow last Thursday. Although still well above 2023 levels, CME’s BTC futures open interest has fallen sharply from recent all-time highs, with mainstream FOMO sentiment slowing significantly.
- 11:29Opinion: Polkadot’s DOT token is bullish in the short term and is expected to rise to $15As reported by CryptoPotato, Polkadot’s DOT token, currently stable at $6.5, has received bullish short-term price predictions from analysts, who expect the price to rise to $15 due to positive market dynamics. Other traders are even predicting higher valuations in the future, predicting that it could reach $100 in a bull run scenario, with a summer peak of $20. One of them is analyst Ash Crypto (who has over a million followers), who admits to still holding his DOT reserves, with hopes growing that the price could rush to a two-year high of $15. In addition, analysts have also noted the recent “good fortune” of the Solana Meme coin, suggesting that the type of assets built on the Polkadot ecosystem could also prosper. Crypto enthusiasts Thomas Kralow and FLASH also expressed their views. The former predicted that DOT’s valuation could reach a staggering $100 during a bull run, while the latter believes that “all engines” are “fueled” for a massive buildup.
