Gate News reports that on March 7th, the cryptocurrency industry experienced several positive developments on Wall Street: Morgan Stanley chose BNY Mellon as the custodian for its spot Bitcoin ETF exposure, a certain CEX was approved to access the Federal Reserve payment system, and a certain CEX was valued at $25 billion with ICE investment. However, Bitcoin, after approaching nearly $74,000, fell back below $69,000, with the total market cap evaporating about $110 billion. Macro factors such as a strong dollar, rising oil prices, and changing interest rate expectations are suppressing risk asset performance. On-chain data shows that short-term holders transferred over 27,000 BTC (about $1.8 billion) to exchanges when the price neared $74,000, taking profits and increasing short-term selling pressure. There are some positive signals in the funding market: last week, U.S. spot Bitcoin ETFs saw approximately $787 million in net inflows, marking the first positive flow since mid-January this year.
Disclaimer: The information on this page may come from third parties and does not represent the views or opinions of Gate. The content displayed on this page is for reference only and does not constitute any financial, investment, or legal advice. Gate does not guarantee the accuracy or completeness of the information and shall not be liable for any losses arising from the use of this information. Virtual asset investments carry high risks and are subject to significant price volatility. You may lose all of your invested principal. Please fully understand the relevant risks and make prudent decisions based on your own financial situation and risk tolerance. For details, please refer to
Disclaimer.
Related Articles
Bitcoin Short-Term Holders Discount Narrows to -5.7%, SOPR Signals Recovery
Gate News message, April 24 — Bitcoin short-term holders (STH) are showing signs of recovery as their discount narrowed from -21.6% to -5.7%, according to on-chain analyst Axel Adler Jr. The STH-SOPR (Spent Output Profit Ratio) 7-day moving average has climbed back above 1.0, indicating that short-t
GateNews8m ago
Bitcoin Mining Weekly Digest: TeraWulf Completes $1.035B Equity Offering
Gate News message, April 24 — During the week of April 11-17, 2026, Bitcoin's network-wide average hash rate stood at 935 EH/s, down 4.43% from the previous week's 978.9 EH/s, with peaks reaching 1,064 EH/s and lows of 815 EH/s. Bitcoin's average price was $76,048.3, up 3.9% from the prior week's $6
GateNews31m ago
ARK Invest's Bitcoin 'Conviction Buyers' Holdings Surge 69% in Q1, Hitting Highest Level Since 2020
Gate News message, April 24 — ARK Invest reported that its "Conviction Buyers" bitcoin holdings surged from 2.13 million BTC to 3.6 million BTC in the first quarter of 2026, an increase of 69% and the highest level since 2020. The growth occurred despite bitcoin's price declining 22% during the
GateNews1h ago
Largest Bank in Brazil Moves to Invest in Bitcoin Mining
Itau Unibanco, through its VC arm Itau Ventures, has made an undisclosed investment in Minter, a company that installs mobile data centers and bitcoin mining operations across Brazil. Minter’s approach allows it to take advantage of surplus energy that would otherwise be wasted.
Key Takeaways:
It
Coinpedia1h ago
Bitcoin Approaches $80,000 as ETF Inflows, Whale Accumulation Support Rally
Bitcoin is trading near $78,400 on Thursday after reaching an intraday high of $79,426 on Wednesday, according to The Block's price data. The move marks what analysts describe as an important improvement in market structure, though conviction remains tested at key resistance levels. Institutional an
CryptoFrontier2h ago
US Government Operating Bitcoin Node Without Mining, Admiral Indicates
A senior admiral has indicated that the US Government is actively operating a node on the Bitcoin network while deliberately avoiding participation in mining activities. The disclosure suggests that authorities are taking a more involved role in blockchain infrastructure for oversight and
CryptoFrontier2h ago
