🌙 Bitcoin Hits $62K as Cryptos Bounce

Bitcoin will likely trade in a range between $60,000 and $70,000 through the next few months, the former BitMEX CEO said.

Author

Mike Gavela
May 03, 2024

Crypto Roundup - May 3

Bitcoin surged to $62,000 as cryptocurrencies rebounded, with Arthur Hayes suggesting the correction might be over but a gradual ascent is expected. Meanwhile, BlackRock anticipates sovereign wealth funds and pensions to enter Bitcoin ETFs, signaling growing institutional adoption. Jack Dorsey's Block is increasing its Bitcoin holdings, setting a precedent for other companies to follow suit, potentially reshaping corporate balance sheets towards cryptocurrency investments.

Top Stories:

  • Bitcoin hits $62k as cryptos bounce, correction likely over

  • BlackRock sees sovereign wealth funds, pensions coming to Bitcoin ETFs

  • Jack Dorsey's Block adding more Bitcoin to balance sheet presents roadmap for others

TOP STORIES

Bitcoin Hits $62K as Cryptos Bounce; Correction Likely Over But Expect a 'Slow Grind Higher,' Arthur Hayes Says

Bitcoin will likely trade in a range between $60,000 and $70,000 through the next few months, the former BitMEX CEO said.

www.coindesk.com/markets/2024/05/03/bitcoin-hits-62k-as-cryptos-bounce-correction-likely-over-but-expect-a-slow-grind-higher-arthur-hayes-says

BlackRock Sees Sovereign Wealth Funds, Pensions Coming to Bitcoin ETFs

The asset manager has been helping educate pension funds, endowments and sovereign wealth funds about the new spot bitcoin ETF products, BlackRock’s head of digital assets said.

www.coindesk.com/business/2024/05/02/blackrock-sees-sovereign-wealth-funds-pensions-coming-to-bitcoin-etfs

Jack Dorsey's Block Adding More Bitcoin to Balance Sheet, Presents Road Map for Others

The company announced the news alongside its first quarter earnings report on Thursday afternoon.

www.coindesk.com/business/2024/05/02/jack-dorseys-block-adding-more-bitcoin-to-balance-sheet-presents-road-map-for-others

FUNDRAISES

OTHER HEADLINES

Trader loses $68M in address poisoning scam

The attack caused the unknown trader to lose over 97% of its total crypto holdings, in a single malicious transaction.

cointelegraph.com/news/trader-loses-68-million-address-poisoning-scam

Friend Tech Token Tanks After Shambled Debut - The Defiant

Friend Tech's airdrop ended in tears for many users, with few points holder being able to access their FRIEND tokens while its price quickly fell.

thedefiant.io/news/markets/friend-tech-token-tanks-after-shambled-debut

Hong Kong investors fall prey to new scam — fake law firms that promise to recover stolen crypto

In this week's Asia Dispatch, we report on three fake law firms allegedly allegedly scamming investors.

www.dlnews.com/articles/regulation/hong-kong-crypto-investors-fall-prey-to-fake-law-firms

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