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Bitcoin short liquidations spiked over $24 million in the past 24 hours as the price held above the $59,000 mark.Technical and fundamental bitcoin chart indicators show optimistic signs for the crypto market moving into the month of May, an analyst said.
After hitting a low under $57,000 earlier this week, BitMEX co-founder Arthur Hayes expects bitcoin to rally back to the $60,000 to $70,000 range.Hayes argues that recent policy announcements from the U.S. Federal Reserve and Treasury Department amount to “stealth forms of money printing” that will begin a slow grind higher for the crypto market.
Hong Kong’s three spot bitcoin ETFs have seen a decline in daily BTC inflows.Inflows reduced to 174.73 bitcoin on the second day from 3,910 bitcoin on the opening day.Total trading volume maintained at over $9.7 million on both days.
TON is among the most notable gainers in the past 24 hours.
- 21:17JPMorgan: MiCA Regulations May Increase Adoption of Euro StablecoinThe European Union's landmark Market for Crypto Assets (MiCA) regulation, which comes into effect on December 30, 2024, could boost the market share of euro-pegged stablecoins, according to analysts at JPMorgan Chase. Currently, euro-pegged stablecoins account for only 0.12 percent of the stablecoin market share, but MiCA could improve this by encouraging European banks and financial institutions to adopt euro stablecoins for customer needs and blockchain-based financial settlements, JPMorgan analysts said in a report. Notable examples include Société Générale's EURCV stablecoin and BBVA's plans to launch a stablecoin in partnership with Visa, analysts said.
- 20:53Mainstream CEX Cumulative Short Liquidation Strength to Reach $1.228 Billion If Bitcoin Breaks $96,000According to the data, if Bitcoin breaks above $96,000, the cumulative short liquidation strength of mainstream CEX will reach 1.228 billion; conversely, if Bitcoin falls below $92,000, the cumulative long liquidation strength of mainstream CEX will reach 630 million.
- 20:52Fed Governor Bowman: Supports seeing December rate cut as “final step” in policy recalibrationFederal Reserve Governor Bowman said on Thursday that she supports last month's rate cut as the “final step” in the Fed's monetary policy recalibration, which must be done cautiously in the future because of rising inflation risks. “We should also avoid prejudging the future policies of the new administration,” Bowman said in remarks prepared for delivery to the California Bankers Association. “Instead, we should wait for more clarity and then seek to understand the implications for economic activity, labor markets and inflation.” It was Bowman's first such comment since he became the favorite to become the Fed's next top bank regulator. Barman announced this week that he will step down as the Fed's vice chairman for supervision by the end of next month. Bowman said, “This year will see a change in leadership at the banking agencies, and I expect that will translate into a shift in priorities and approach.” She reiterated her consistent call for more targeted regulatory requirements and a more “pragmatic” approach to policymaking.